Commercial Confidential: Brisbane property, leasing news and gossip

Already home to the southern hemisphere’s biggest McDonald’s, Brisbane’s CBD will soon also be the setting for the largest Starbucks in the nation. See how it will look.

AUSTRALIA’s largest Starbucks is on the way and it will be in the Brisbane CBD.

Many would have would have seen building works on the ground floor of 288 Edward St, but eagle-eyed office workers would also have noticed that concept images on the construction signage around the newly named Highpoint office tower features the American coffee giant.

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Midtown Centre architects say the tower could be the start of the `reinvention’ of many older Brisbane CBD buildings

While tower’s new co-owners and managers Marquette Properties are keeping tight lipped we hear that the 300sq m of ground floor space which has been cleared and worked on will make it Australia’s largest Starbucks.

How it will impact on the coffee chain’s three other CBD outlets remains to be seen?

According to the concept image the Highpoint’s other ground floor tenancy looks like a car showroom — we will have to see what eventuates there.

For the record Marquette Properties and offshore investment giant Heitman and EGW paid $113 million for the 28-level office tower earlier this year.

Hutchinson Builders are well underway on the $23 million refurbishment of the 45-year tower.

Part of the upgrade is an overhaul of the ground floor area which will see the retail tenancies be pushed out to the footpath.

Work should be completed by March 2020.

It follows the biggest McDonald’s in the southern hemisphere, which opened in Queen Street Mall two years ago.

An artist's impression of the Highpoint office tower at 288 Edward St in the Brisbane CBD.

Coles amps up CBD presence

AN AUSTRALIAN supermarket giant is making plans for its third CBD location having lodged a development application with the Brisbane City Council.

The DA has been lodged for a new style Coles ‘Local’ supermarket and other retail, at 71-89 Adelaide St on the corner of Albert St and backing onto Burnett Lane.

Urbis was commissioned by the building’s owners G & J Drivas and Telado to prepare the DA for extensive refurbishment of the three-level podium of the existing office building.

The Commonwealth Bank has four years to run on its lease on the ground floor will not be impacted. The CBA was also on Level 1 but left about five years ago and the space has been vacant since then.

An artist's impression of the of the new facade at 71-89 Adelaide St, in the Brisbane CBD.

The redevelopment has been designed by Cottee Parker Architect and will feature an escalator from the corner of Burnett Lane and Albert St going up to the supermarket.

Coles has described its “new style” supermarket as a tailored in-store experience, high quality local and imported products, designed for a local community and a focus on sustainability.

According to Urbis: “With the revitalisation of the three facades of the podium fronting Burnett Lane, Albert St and Adelaide St, the existing building will be well presented as an important and prominent corner site within the CBD.”

“The refurbishment of the podium will include the replacement of the current facade with modern materials, finishes and colours. This will incorporate extensive glazing to strengthen the connection between the inside and outside of the building, bay windows, signage (subject to a signage license application) and lighting elements.”

An artist’s impression of the new facade at 71-89 Adelaide St, Brisbane CBD.

Decade of growth celebrated

TEN years after hanging out his shingle during the dark days of the global financial crisis, Angelo Efstathis is celebrating a decade in the property management business.

First Asset Management is celebrating its 10th anniversary with clients and staff on Friday at Moda Events Portside.

Angelo Efstathis

There will be canapes, drinks and entertainment with an expected 120 people for the event which will be hosted by Channel 7’s Pat Welsh and former Australian cricketer, media personality Greg Ritchie.

“We couldn’t be prouder of our growth and the success we bring our clients on a daily basis,” Efstathis says.

“It will be an honour to have them celebrate with us and it’s a privilege to continue to serve their asset management needs.”

Over the past 10 years FAM has built a substantial retail asset management portfolio and is one of the arrest privately owned retail asset management businesses in Queensland and has over 20 employees.