This article is from the Australian Property Journal archive
THE iconic TAB building in Brisbane’s Albion will become the new headquarters for Queensland Fire and Emergency Services (QFES), after the state government leased the entire 10,000 sqm building.
The owner of 240 Sandgate Road owner, Alceon Queensland, is transforming the building into a modern office with views of the Brisbane CBD and Brisbane River in partnership with project architects Nettleton Tribe and construction contractor, Grayston.
QFES, soon to be Queensland Fire Department, has committed to a 10-year lease across all 10,008 sqm of office space and its surrounding 11,345 sqm parcel of land. On completion of this major refurbishment and fit-out of the building, more than 500 QFES staff will relocate to what will become the headquarters for the newly established Queensland Fire Department. The ability to consolidate business operations within a newly refurbished commercial 5-sar NABERS office building within an inner-city location supported by critical transport infrastructure and on-site parking aligned with QFES occupancy strategy, Alceon Queensland said.
The 10-storey, 1970s building’s revamp includes will take it from a zero to 5-Star NABERS energy rating.
Alceon Queensland has quickly formed a close relationship with the state’s emergency services in recent weeks. Earlier this month it snapped up a commercial car park and office building in the Brisbane CBD for $73 million that has new lease terms to the Queensland Police Service.
The new tenant at 240 Sandgate Road, Albion was introduced by Mitch Connell of Aegis Property Group.
The lease is Alceon Queensland’s largest suburban lease commitment to date.
“Alceon Queensland has been developing suburban office buildings since its inception in 2008, under the thesis that energy efficient, A-grade office buildings in suburban locations, at the nexus of major arterial thoroughfares and with access to car parking and public transport will always have demand in a growing catchment,” the group’s executive director, Todd Pepper said.
Alceon acquired the former TAB building in 2021 as part of its plans to create a $200-million mixed-use precinct called Hudson Commons.
“The former TAB building provided a unique opportunity to reposition the asset into the fabric of Brisbane social infrastructure,” Pepper said. As well as the existing building’s refurbishment, Alceon’s plans included a new seven-storey office building, 15-storey residential tower, ground-level retail, a publicly accessible plaza and four basement car parking levels.
Rising construction costs have since rendered the mixed-use scheme unfeasible but Alceon has continued its refurbishment strategy for the former TAB building.
Alceon Queensland has completed more than 100,000 sqm of greenfield office development and adaptive re-use of redundant or vacant office buildings in the suburbs and fringe, and Pepper said the group was accordingly comfortable that there was sufficient demand in the inner-northern corridor of Brisbane for a newly refurbished commercial office building credentialed with a 5 Star NABERS rating and other ESG benefits.
The centre-zoned holding is “significantly under-developed” with the existing building accounting for less than 25% site coverage, Pepper said, and about 8,000 sqm of surplus land remains that could be developed to between 15 and 20 storeys “as of right” for a multitude of uses.
Alceon Queensland has most recently completed TAFE Queensland’s new 7,600 sqm Robina campus and Wise Medical’s adjacent 2,000 sqm stand-alone emergency medical facility as well as two new buildings at 385-389 Macarthur Avenue within Brisbane’s riverfront Northshore Hamilton precinct, the site chosen for the main Athletes’ Village for the 2032 Olympic and Paralympic Games.
