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Rio on the move in Brisbane

Lucas Baird

Key Points

  • Rio Tinto will move from the 123 Albert St offices it has called home since 2009.
  • The company looks set to pay over $17 million of rent a year at its new digs.
  • The new offices at Midtown Centre are set to complete development by mid-2021.
  • The Midtown Centre project combines to vacated buildings into one super tower.

Rio Tinto has blindsided the Brisbane commercial property scene with plans to move from its "purpose-built" offices on Albert St and into the completed Midtown Centre by mid-2021.

The mining giant has signed a 10-year lease agreement for 20,000 square metres of office space at the top of the under-construction tower, which represents almost half of the 42,000 sq m the Midtown Centre will offer across its 26-storeys.

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Lucas Baird is a journalist based in The Australian Financial Review's Sydney office. Connect with Lucas on Twitter. Email Lucas at lucas.baird@afr.com

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    Original URL: https://www.afr.com/real-estate/commercial/rio-on-the-move-in-brisbane-20190320-p515t9