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With the University of Queensland (UQ) set to vacate in early 2023, and an upcoming vacancy profile of ~4,000sqm, LaSalle undertook a significant on-floor refurbishment program to reposition the asset to the best Heritage opportunity on Queen Street.
Floor-by-floor, new speculative suite products were delivered showcasing the Heritage aspect of the asset, which ultimately led Patona Property to backfill 1,948sqm of vacancy left by UQ. In negotiating this transaction, Patona Property saved LaSalle an estimated $1.3million in make-good and new fitout works.
293 Queen Street, Brisbane City
Initial vacancy: 3,110sqm
5,405sqm leased over 16 months
Rent growth of $70/sqm
University Southern QLD
Queensland South Native Title
Learning People
Ellivo Architects
LCI Consultants