Star sells Treasury Building to Griffith University for CBD campus
Star Entertainment has announced the $67.5 million sale of its heritage-listed Treasury Building to Griffith University, which expects to open “a state-of-the-art educational environment” in 2027.
The building’s Treasury Casino closed its doors on August 25 ahead of the opening of Star Entertainment Group’s new Queen’s Wharf precinct and casino.
The lease was expected to be handed over on September 27, subject to approvals by the relevant agencies responsible for the century-old former government building.
Griffith University expects the Treasury Building to support 7000 business, IT, law, and post-graduate students by 2035.
Griffith University plans to transform the site into a learning hub for its business, IT, and law faculties, as well as a centre for post-graduate and executive education. It expects up to 7000 students and 200 staff will use the facilities by 2035.
An impression of a multipurpose learning space at Griffith University’s Treasury Building.
Vice-Chancellor Carolyn Evans said its central location would compliment the university’s existing South Bank campus and better serve areas west and north of the city centre.
“The Brisbane CBD campus will deliver an entirely new experience for students, staff, and partners alike,” she said.
Professor Caitlin Byrne, Pro Vice-Chancellor (Business) at Griffith University, said she was “over the moon” at the announcement, adding the CBD location would bring business, IT and law students closer to partners in government and industry.
“Over the next month, the university will be working towards settlement,” she said. “Then we will focus on the design and refit of the building as a place of learning with that aim of opening our doors to students in 2027.
“From 2030, the idea would be that we’ve got a fully functioning campus here.
“For Griffith, this development represents an important investment in, and commitment to, the future of innovative education and research in the heart of Brisbane’s CBD.
“It extends our existing footprint.”
Star chief executive Daniel Finch said from its neighbouring Queen’s Wharf position, it would be excited to “watch the story of the Treasury Building evolve”.
He said it had been a privilege to be caretaker of the building for almost three decades.
“We are delighted to hand the baton to Griffith University, knowing the Treasury Building is in the safe hands of another proud Queenslander that respects its history as much as we have,” Finch said.
The sale comes just days after the extent of The Star’s financial woes were exposed, forcing it to appeal to the state government for a tax reprieve.
The embattled casino company’s partner, Chow Tai Fook Enterprises, also received criticism this week for suppressing a probity report on its suitability to run the multibillion-dollar Queen’s Wharf casino, a decision supported in court by the state government.