Business Confidential: Brisbane property, development, business news and gossip

SOME of the likely winners of Brisbane’s space race are becoming clearer as Christmas approaches.

Banking giant Westpac; insurance giants Allianz and Suncorp; Technology One and the Australian Taxation Office are on the hunt for office space.

SOME of the likely winners of Brisbane’s space race are becoming clearer as Christmas approaches.

According to sources, banking giant Westpac’s search for 7000sq m of space has been whittled down to a shortlist of four — GPT’s Riverside Centre on Eagle St; Dexus’ premium tower at 480 Queen St; Charter Hall’s 175 Eagle St and the Shayher Group’s 300 George St, which is under construction.

Also, insurance giant Allianz is believed to be close to signing off on 8000sq m of space at Cornerstone Properties’ redeveloped A-grade tower at 310 Ann St.

Meanwhile, Technology One (15,000sq m) and Suncorp (30,000sq m plus) are sifting through their shortlists and announcements, expected early in the 2018.

There’s been no intelligence whatsoever over the ATO’s 24,000sq m requirement. That decision is to be also announced early next year.

We understand Charter Hall is working with the Brisbane City Council to get the all clear on its $450 million Brisbane Square 2 tower on George St which Q Super has a signed a heads-of-agreement to be its anchor tenant.

Last month the council voted to put a protective Temporary Local Planning Instrument on the tower site at Reddacliff Place.

Finally there are a number of State Government office requirements in limbo while counting continues — despite a very, very likely Labor victory.

KNIGHT FRANK EXPANDS BRISBANE TEAM

KNIGHT Frank’s national Project Management & Building Consultancy (PMBC) team is expanding with Claire Moran appointed to the newly-formed role as head of the division in Queensland.

Knight Frank’s Claire Moran has won a promotion.

Claire was previously director PMBC NSW at Knight Frank has won the role of senior director.

The appointment follows Richie Holligan’s move from Knight Frank’s Sydney office to Brisbane as associate director, PMBC, QLD in another newly-formed role for the business.

Knight Frank managing director QLD Ben McGrath said the strategic appointment points to the growth of the Brisbane team focusing on Occupier Solutions.

“Claire is an extremely experienced and well-respected operative and the addition of her in managing our PMBC team will see us capitalise on the increasing opportunities we are securing in our various agency businesses in Queensland,” he said.

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An artist's impression of the Specialist Rehabilitation and Ambulance Care Centre at the Herston Quarter redevelopment.

ROYAL BRISBANE HOSPITAL PROJECT A WINNER

AUSTRALIAN Unity’s $1.1 billion Herston Quarter Redevelopment, in partnership with Metro North Hospital and Health Service, was formally recognised in the Public Private Partnership awards for ‘Best Social Infrastructure Project’ and ‘Best Financial Structure’.

The Herston Quarter Redevelopment — a world-class health, aged care, medical and research precinct in Brisbane — includes the first public heath facility in Australia to be built in a real estate investment trust structure using private capital from investors.

The $1.1 billion Herston Quarter Redevelopment was formally recognised in the Public Private Partnership awards for ‘Best Social Infrastructure Project’ and ‘Best Financial Structure’.

Mark Pratt, General Manager of Property at Australian Unity, said the award marked a significant occasion for Australia.

“For the first time, private capital providers have been formally acknowledged for their part in delivering essential public health infrastructure services on behalf of communities around the country,” he said.

The cornerstone of this project is the $300 million public healthcare facility that will combine specialist rehabilitation, surgery and ambulatory care services.

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HISTORICAL LANDMARK FOR SALE OR LEASE

THE historic old Gympie post office is up for grabs in a golden double opportunity.

Ray White Commercial’s Tracey Ryan has listed the historical property for sale by private treaty with an asking price of $700,000.

Alternatively, the 22 Channon St building is available to lease.

The two-level heritage-listed building on an elevated 315sq m site at the corner of Channon and Duke streets was designed by Queensland government architect FDG Stanley.

It was built between 1878 and 1880. It was a post office until 1976 before being sold by the Widgee Shire Council for $20,000 in 1993.

The old Gympie post office at 22 Channon St.

AI IS HERE AND EXPANDING FAST

A BRISBANE-based integrated property services company is set to launch a new mezzanine product aimed squarely at Queensland developers.

Red & Co, under directors Jayden Vecchio, Keiran Foster and David Laverty. started almost two years ago as a virtual one-stop finance/property shop.

They say the new product will suit developers looking to harness Red & Co’s full suite of services with finance, development support, sales support, rentals and residual stock refinance.

IF bricks and mortar retailers think they just have competition from online shopping sites to be concerned about, then they need to think again, and fast.

DMA Partners associate Angus Jarmer says once considered the domain of the military and sci-fi films, artificial intelligence (AI) is coming at the retail sector like the “proverbial freight train”.

“AI is here and it’s expanding fast,” he says.

Angus says new devices like Google’s Home Assistant, Amazon’s Echo, and Apple’s HomePod have all created ways for both consumers and suppliers to be always ‘on’ and create a seamless connection to facilitate sales and purchasing.

“This will create a touchpoint consumer experience, which will drive the next stage of evolution in retail,” he says.

“Retailers then will have a far more complete picture of what customers want as they will consolidate the data from all those touchpoints.”

But Angus says retailers who think the future game is all about AI are making a huge mistake.

“While AI and other technologies are delivering new and critical insights to the retail sector, it’s actually the combination of this data and a red hot focus on an exceptional consumer experience which is the differentiator,” he says.

A Google Home device. Picture: James Croucher

“By using data to identify what the customer wants, when they might want it, how they might like to buy it and by customising both the product specifications and the buying experience for the purchase, AI-friendly retailers are establishing new relationships with their customers.

“Imagine having a brand new washing machine delivered to your door just a few hours after conversing online with an intelligent robot who can determine your preferences, needs and even your future needs based on a few questions about your day, your lifestyle and your weekend activities.

“AI is all about personalisation and intuitive service.”