Commercial Confidential: Brisbane property, leasing news and gossip

A federal department is looking to consolidate thousands of workers from four Brisbane CBD locations into the one new office tower.

IT MIGHT be down the track, but thousands of public servants will have to pack up their desks and make a big move.

We hear the Federal Government’s Department of Human Services will be seeking to consolidate up to four of its Brisbane CBD locations into a new office tower.

Commercial Confidential: All Brisbane property sales and leasing deals, gossip and job movements

Commercial Confidential: All the latest property gossip, leasing and sales news in Brisbane

Commercial Confidential: All the Brisbane property, leasing and sales news and gossip

There is a rumoured 30,000sq m to 40,000sq m requirement set to hit the market with the aim of a new home to open by 2024.

The usual suspects — The Regent on the Queen Street Mall (ISPT), 370 Queen St (Investa/Charter Hall); 62 Mary St (QIC); 205 North Quay (Cbus Property/Nielson Properties) and others — will no doubt be pitching for the gig.

Meanwhile, the jury is still out on the State Government’s 25,000sq m requirement. There are a few in the mix including the Shayher Group’s 300 George St tower which will be completed next year.

An artist’s impression of the 300 George St office tower in the Brisbane CBD.

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THE developers behind a major West End residential project that was reshaped after a barrage of criticism has delayed its launch until late next year.

The marketing campaign for Crown Group’s yet unnamed 455-luxury apartment development on a 1.25ha site at 117 Victoria St was scheduled to have started this year with construction to start next year.

However, Crown Group says it will launch its $350 million “urban village” residential project in late 2020 aiming to coincide with the Queen’s Wharf development.

As yet there is no specific date scheduled for the start of construction or the completion of the project.

Crown Group chief operating officer Pierre Abrahamse said the new timeline would allow for demand in the Brisbane market to catch up with supply, while allowing for current West End tenant Queensland Ballet to move into its redeveloped headquarters at the Thomas Dixon Centre in nearby Montague Rd.

“Brisbane is showing the healthiest growth of any of the major markets in Australia, and given that construction has started on the Queens Wharf project, bringing billions of dollars’ worth of construction and thousands of jobs, we see a very bright future for the residential market in the city,” he says.

The West End luxury apartment development is designed by renowned architectural firm Francis-Jones Morehen Thorp to create a living garden lifestyle.

An amended design creates four 12-storey structures over a common podium, allowing more landscaped walkways that connect with the riverfront public land. The new design also includes 4200sq m of communal open space.

An artist's impression of Crown Group urban village project at 117 Victoria St, West End.

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SUNSHINE Coast businesses have snapped up all but one vacant lot in Yandina Industrial Estate, delivering new jobs and expanded services to the region.

Minister for State Development, Manufacturing, Infrastructure and Planning Cameron Dick said demand for lots in the estate has exceeded expectations.

RDF Group recently bought a 7.3ha parcel of land to create a new business hub.

“Yandina Industrial Estate is home to equipment manufacturers, cabinet makers, food processors and more, and is in proximity to the Sunshine Coast’s growing agribusiness industry, which facilitates many supply chain opportunities,” Dick says.

An aerial view of Yandina Industrial Estate.

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A LEADING Cairns hotel is on the market with its Chinese owners seeking to take advantage of increasing demand for far north Queensland hospitality assets.

The vendor — a Chinese-based investment firm — bought the Hotel Cairns for more than $8 million in 2014 after its previous owners went into receivership.

The 4-star, Queenslander-style hotel, is less than 200m from the Cairns Esplanade and features 92 well-appointed guest rooms, conference rooms, a leased restaurant, gym, pool and tour desk.

It occupies a prominent 4075sq m freehold parcel of land offering three street frontages and is directly across from the new Cairns Aquarium.

CBRE Hotels’ Wayne Bunz, who is selling the property with colleague Danny Betros, said

there had been significant recent interest from hoteliers seeking to secure a foothold in the Cairns accommodation sector.

“The hotel is owner-operated and is being offered with vacant possession,” he said.

“This will appeal to both owner operators and hotel chains who are actively seeking to establish their brand in Cairns and can use their distribution networks to tap into the record international visitor arrivals to Cairns, with Chinese visitors flocking to the city in record numbers each year.”

The Hotel Cairns has been listed for sale amid rising interest in Cairns hospitality investments