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545 Queen Street was acquired after the previous major occupier, Flight Centre, departed the building, leaving a ~10,000sqm vacancy and a building in need of an extensive refurbishment. The challenge was heightened by a stigma of the previous owner’s Development Approval for a multi-tower residential development.
A high-calibre project team was assembled, tasked to craft a refurbishment plan, marketing strategy and an approach to change the market’s perception of this prime grade building that it could be reinvigorated and revered as a building of choice to occupiers.
The strategy was deployed quickly, to ensure we captured tenants being forced out of buildings to be demolished. We transacted more than 10,000sqm as well as renewing 2,000sqm of existing tenants.
The market-leading display suite, high quality common area design outcomes borne by Cameron & Co (architect), and a deeply thought-out leasing campaign, in concert, ensured our success.
At the time of the leasing, the location was lacking amenity until Howard Smith Wharves was completed and considered isolated. We had to problem-solve solutions that would appease prospective tenants ahead of engaging with the market.
545 Queen Street, Brisbane City
12,000sqm leased over 18 months
Improved market perception
Rent growth of $50/sqm
South32
Sonic Healthcare
Department of Defence
Calibre
Super Loop
Tanda