Developer Goldfields submits DA for $250m 18-storey office tower in the Valley

A developer has submitted plans for a $250m 18-storey office tower which they say will be the `last piece of the puzzle’ for the James St precinct.

An artist’s impression of Goldfields' A-Grade office building at 88 Robertson St, Fortitude Valley.

Diversified national property developer Goldfields has lodged a Development Application for an A-Grade 18-storey commercial tower in Brisbane’s Fortitude Valley, aiming to take advantage of the city’s tightening office market.

What was the long-time home of KC Dry Cleaning, the 2000 sqm site will the be transformed into a $250m 16,000 sqm of office tower with end-of-trip facilities, a rooftop restaurant, ground floor cafe, winter rooms, and street level landscaping.

The planned tower will be 250m from James St and Melbourne-based Goldfields’ chief executive Lachlan Thompson said it will be the “last piece of the puzzle’ for one of Australia’s most prominent retail and lifestyle precincts.

“Our vision for this prime site is to create Brisbane’s best commercial office building

outside the CBD,” he said.

“88 Robertson St will be the ideal location for tenants seeking a bespoke experience focused on convenience, connectivity, and a holistic approach to health, fitness, and work.

“Goldfields is a big believer in the future of the Brisbane office market and our investment in the James St precinct will help ease the current pressure on vacancy rates by breathing new life into the undersupplied CBD fringe.”

An artist's impression of Goldfields’ 18-storey office tower at 88 Robertson St, Fortitude Valley.

The Property Council’s last survey released in July reported that the Brisbane’s CBD office vacancy rate was 9.5 per cent, the lowest since 2013, while the fringe markets also fell and was 12 per cent.

With a lack of supply coming onto the market there are expectations the Brisbane vacancy rate will tighten even further.

According to CoreLogic Goldfields paid $17.1m for the site in May this year.

Cox Architecture director Brendan Gaffney, who designed the tower, said the goal was to design a next generation Brisbane workplace hub which combines the commercial appeal of a CBD golden triangle office building with the character of the Valley and James St precinct.

“88 Robertson St will feature integrated gardens and 360-degree views complete with a cafe-focused laneway inspired ground plane, and a city-view dining experience,” he said.

Subject to planning approval and conditions, construction is scheduled to commence in September 2025 with practical completion forecast for October 2027.