CPG Receives Green Light For 15-Level Brisbane Office Tower

Consolidated Properties Group has received approval for its latest commercial tower in Brisbane, paving the way for work to start on the $250 million project mid next year (2020).

Brisbane City Council last week approved the development application for the 15-level office tower, the first large scale A-grade commercial building planned for the highly-sought after James Street precinct of Fortitude Valley.

895 Ann Street will deliver 23,222sqm of premium office space, and has been designed by award-winning architects, John Wardle Architects (JWA).

The new tower will be located opposite Consolidated Properties Group’s 15-level 900 Ann Street commercial tower, which was also designed by JWA and received numerous awards, including the UDIA Queensland Retail, Commercial Public Use award.

900 Ann Street, which comprises 23,000sqm of commercial space, sold to Charter Hall in 2016 and is tenanted by Australia’s largest freight operator, Aurizon, on a 12-year lease. 

Consolidated Properties Group commercial managing director, Kieran Cox, said 895 Ann Street would add to the developer’s growing workbook of office development in Brisbane.

“We are confident about the Brisbane office market,” he said.

“895 Ann Street’s location in Fortitude Valley offers exceptional accessibility and amenity, and is primed for growth on the back of its increasing appeal with major organisations like Aurizon.

“895 comes at a strategic time in the market cycle, with numerous large scale tenant requirements being sought and limited quality office towers planned.

“We see demand for commercial space, particularly of a premium quality, only continuing to grow in coming years, and are primed to capitalise on this, with an increasing focus on the commercial division of our business.

“With 895 Ann Street, Consolidated Properties Group now has a current and forward workbook of about 60,000sqm of commercial space to strategically bring to market in Brisbane, in-line with demand, over the coming years, including 28,000sqm in our new $850 million Yeerongpilly Green mixed-use community.”

Mr Cox said there had already been significant interest in 895 Ann Street, which was being offered for lease through agents JLL.

Available floorplates range from 1300sqm to 1500sqm, and tenants will have access to a two level basement, comprising a total 103 car spaces, on site.

“The high profile location, with links to some of Brisbane’s most popular retail and dining amenity on James Street, along with essential services such as banking, childcare and health is appealing to companies wanting to lure top quality staff,” said Mr Cox.

“With the Valley Metro station just 650 metres away, 895 Ann Street will also be easily accessible to staff and customers, which is a major consideration for companies looking for a new base.”

JWA Principal, Stefan Mee, said the building had been designed to blur the line between street and lobby, drawing people in and through the project.

“895 Ann St marks a significant opportunity to contribute to an established inner city precinct where developments cleverly combine work and lifestyle in innovative and exciting ways,” said Mr Mee.

“Today, work might happen in the foyer, on the steps of an amphitheatre or out on a terrace.  These changes in working life are catered to through a diversity of spatial environments throughout the podium of the building, giving tenants and visitors much greater freedom.

“A crafted masonry screen at lower levels beds this building in to the wonderful James Street precinct. Close to the ground, innovative new workplaces, café and wellness uses will strengthen this corner of Ann and Wandoo Streets.

“Above the street, the tower is a combination of two forms with a strongly textured façade that folds like a concertina to capture unexpected and unique views.” 

For further information on leasing opportunities, please contact Sam Barr on 0404 807 653 or sam.barr@ap.jll.com