Public servants won’t be moving after the State Government pulled out of negotiations to relocate a number of departments

Thousands of Brisbane public servants have spent the past two years uncertain of where they would be based as the State Government looked to relocate them. Now, a deal has been done and their fate has been sealed.

AFTER months of uncertainty, thousands of public servants won’t have to pack up their desks after all.

The State Government appears to have taken its 25,000sq m office requirement — that it put out to the market two years ago — off the table.

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It’s been long speculated that the Shayher Group’s new office tower at 300 George St was a lay down misere to fill the requirement.

However, we understand the Government has now exercised its option on its long-term base at Mineral House at 41 George St and an array of departmental offices will stay put.

300 George St under construction in 2018.

If you remember the 27-storey 30,000sq m tower is owned by Singapore’s AEP Investment Management who paid QIC $159.8 million for it in early 2016.

They have embarked on an extensive refurbishment which may have swayed the State Government to stay put … or perhaps it was just politics.

Interest strong for A-grade tower

MEANWHILE, there are only two tenants at the moment in 300 George St — Transurban and Urbis.

While there is about 38,000sq m of space still unaccounted we hear there’s still plenty of interest in the A-grade tower.

We understand National Transport Insurance, which is currently on level 29 at 400 George St and has a 3000sq m requirement in the market, is having a good look at the tower.

And over the years plenty have looked long and hard at the tower.

Casting our minds back to 2017 Queensland’s largest super fund QSuper signed a non-binding and non-exclusive Heads of Agreement with Shayher for a 15,000sq m space in the tower.

A few months later QSuper received an offer it couldn’t refuse and changed its mind and planned to move into Charter Hall’s proposed $450 million Brisbane Square Tower 2 at the top of the Queen Street Mall.

Council put a stop to the that and QSuper elected to slip into what will be vacant space in Charter Hall’s Brisbane Square tower when Suncorp moves into new digs at 80 Ann St.

However, with a possible merger between QSuper and Sunsuper still on the table anything can happen.

Regardless, we hear 300 George St’s two tenants Transurban and Urbis are loving their new digs.

But there is one group with a large requirement that isn’t casting its eye over 300 George St.

We hear Credit Union Australia which has a 6000sq m to 8000sq m requirement in the market has a shortlist of four likely sites — two CBD and two fringe properties.

An artist's impression of the Kaias family's Mobo commercial development at South Brisbane.

The shortlist is Dexus’ 123 Albert St and staying up at 145 Ann St, which is also owned by Dexus.

We also understand that the Kaias family’s Mobo office development on Tribune St South Brisbane, and the 14-storey Jubilee Place development in Bowen Hills, are also on the list.

Premier waterfront site on the market

ONE of Cairns’ last remaining premier secluded waterfront development sites will be on the market later this month, with potential buyers expected to range from locals to offshore

investors.

The large oceanfront land holding of 18,708sq m is at Half Moon Bay, north of Cairns, on Reed Road at Trinity Park, and has 350m of frontage to the Coral Sea.

It will be marketed exclusively via Knight Frank agents Christian Sandstrom, Dominic Ong and Greg Wood.

The 1.87ha of oceanfront land holding at Half Moon Bay, north of Cairns.

Surrounding development to the south-west of the site is Bluewater Estate, currently being developed by Brookfield Residential Properties for a number of land and house packages across three precincts including internalised private marinas.

Mr Sandstrom said the sale campaign for the Half Moon Bay property would target local, interstate and offshore development companies.

“Half Moon Bay is located in the idyllic northern beaches region of Tropical North Queensland. Occupying the mouth of Half Moon Creek, it is surrounded by an exuberant tropical environment and exclusive white sandy beaches and will draw in a huge number of visitors,” he said.

The site has an existing approval for multiple dwellings and holiday accommodation, with amenity including pools, cafes and restaurants, and more than 13ha is developable.