Big banks renewing leases in the Brisbane CBD as companies have fewer options available

The big end of town has few premium or A-grade office options available in the Brisbane CBD, with two major banks opting to stay put, as signage rights loom as a major hurdle.

Office space at a premium in the Brisbane CBD.

They’re saying it’s a bit slow in the big end of the CBD leasing market at the moment, with appropriate signage a major issue.

While ANZ (12,000 sqm to 15,000 sqm) and Telstra (6000 sqm to 8000 sqm) are still looking around for new digs others have put it in the too hard basket with a dwindling number of large premium or A-grade contiguous office options around.

According to the Property Council’s latest stats premium office vacancy was 7.3 per cent and A grade 8.3 per cent.

So it’s no wonder that CBA has renewed its lease at Daisho’s 180 Ann St tower while NAB is also understood to have opted to stay at Investa’s tower at 259 Queen St.

One rumour we keep hearing is that the Bank of Queensland is quietly looking at a potential move away from its office at the Gasworks at Newstead and into the CBD.

BOQ’s 12-year lease is set to expire in early 2027 but they could stay put.

But there is little premium office space available in the CBD – unless its backfill space for companies committed to Charter Hall/ Investa’s 33-storey 360 Queen St which is due to be completed this year.

We hear also that 360 Queen St has about 10,000 sqm not taken up, while Dexus’ North Tower at its $2.5bn Waterfront Brisbane project is half precommitted but won’t be finished until 2028. .

Timing is an issue but like most big companies BOQ will want mega signage rights which may not be available.

Only two office towers in the Brisbane CBD are under construction – 360 Queen St and Dexus’ North Tower at its $2.5bn Waterfront Brisbane development.

Honour

Kirsti Simpson has been named one of seven eminent designers to be inducted into the Design Institute of Australia Hall of Fame.

The recognition celebrates her outstanding contributions to workplace design and her role in shaping the future of Australian (and international) design.

The Woods Bagot executive chair said it was a great honour and truly humbling.

“It’s a huge reminder to me of the responsibility I have within my profession, to continue paving the way for future designers to think creatively about how to tackle projects that have positive ripple effects throughout the industry,” Simpson (illustrated) said.

“Being recognised mid-career rather than at its conclusion is particularly meaningful.

“It gives me momentum to continue pushing boundaries in our profession, especially during this unique point in history for workplace design.”

Kirsti Simpson will be inducted into the Design Institute of Australia Hall of Fame.

Simpson’s career has been defined by a series of “firsts”.

As part of the first cohort to graduate from the Bachelor of Applied Science, Built Environment program at Queensland University of Technology, she commenced her career at Bligh Voller Neild in Brisbane, where she went on to lead the Interior Design discipline in Brisbane.

She then moved on to a 25-year career at Hassell where she was the first female partner, first female managing partner and first female board member.

At Woods Bagot Simpson has been instrumental in advancing workplace design that flexibly responds to contemporary challenges.

She will be inducted into the Design Institute of Australia’s Hall of Fame on February 20.