This article is from the Australian Property Journal archive
APH Capital Partners has put the commercial office component of Trilogy Tower in Brisbane on the market.
The commercial building to be named Trilogy is located at 480 Queen Street and forms part of APH’s $700 million development that will become Brisbane’s tallest building – Trilogy Tower.
Trilogy Tower will comprises 109 Trilogy Skyhomes and the 192-key, five-star Trilogy Hotel, Brisbane CBD’s first new five-star hotel project in more than a decade.
Trilogy is part of the 265 metre high, 70-level tower being built on the site known as the Red Cross building.
Trilogy will be located over 28 levels comprising 30,000 sqm of office space, serviced by 12 high speed elevators.
The tower’s commercial component will feature a separate and secure five-storey foyer and lift lobby off Queen Street, 170 secure underground car spaces accessed from Adelaide St.
APH’s managing director John Wilson said the decision to formally market the commercial space came at a time of great investor interest in the Brisbane market and is expected to attract significant interest at a time of severe office shortages.
“The city has a robust economy with sustained double-digit white-collar employment growth, underpinned by a booming resources sector, tourism and lifestyle-motivated population shifting.
“It is one of the fastest growing cities in the southern hemisphere and is therefore displaying exceedingly strong demand for office accommodation, which is exasperated by a lack of office development in the past decade or more,” he added.
“Prime commercial vacancy is at an all-time low in Brisbane with less than 1% availability and Trilogy – 480 Queen Street is set to deliver next-generation sustainable design and first-class accommodation facilities for office workers.” he continued.
Jones Lang LaSalle and Knight Frank have been appointed to market the space.
JLL’s managing director Stephen Conry said the building’s strategic location and targeted 5 star Green Star rating would appeal to and investors.
“I have never seen Brisbane attract so much interest from such a large range of potential investors,” he said. “With its prime site at the apex of the CBD’s highly prized ‘Golden Triangle’, Trilogy – 480 Queen Street will enable an investor to capitalise on the strong tenant demand and acquire what will be a true landmark for Brisbane.”
Knight Frank’s managing director Grant Whittaker said a formal leasing campaign for the commercial component of the tower would commence before the end of the year.
APH also announced last month that international construction firm Laing O’Rourke had been awarded the $300 million-plus contract to construct the tower.
The expressions of interest campaign will be open until on November 30.
Australian Property Journal
