This article is from the Australian Property Journal archive
CORVAL has secured four new leases totalling approximately 3,000sqm and two existing tenants expanding their footprint at 160 Ann St in Brisbane’s CBD.
In the largest lease, Central Queensland University (CQU), which already had 5,127sqm in the building, has signed a 10-year lease on an additional two floors spanning 1,633sqm.
Other deals include Healthy Waterways’ move to the building, having consolidated two separate offices to centralise its operations at 160 Ann St and Just Digital People, which secured 400sqm in the building after outgrowing its existing premises.
CBRE’s William Harburg and James Comino, together with JLL, were responsible for introducing the new tenants to 160 Ann St, whilst Wayne Barnes of JLL and CorVal were responsible for the renewal and expansion of CQU.
The fourth deal involved Queensland Health’s expansion within the building, with the government body securing a further 401sqm in addition to its existing 2,481sqm space in the building.
Gross rental rates for the building range from $550-$575psqm.
Harburg said extensive refurbishments undertaken at the property in 2016 had fuelled the recent string of leasing activity.
“We had four floors to lease, and together with JLL property management we struck agreement on almost all of the space within a few months. Once the refurbishment works were completed, the transactions with the new tenants happened rather quickly. There is only 400sqm remaining in the building,” Harburg said. “The occupier market is increasingly focused on providing an attractive workspace to attract and retain staff. A location that offers convenience, amenity and an improved working lifestyle are important factors.”
Australian Property Journal
