February 9 2021 -
DWS & CPG Break Ground On $260 Million Office Tower In Brisbane
Treasurer Cameron Dick, global real estate investment manager DWS, Consolidated Properties Group and Hutchinson Builders, today marked the start of work on the $260 million 895 Ann Street office tower in Fortitude Valley, Brisbane.
The A-Grade commercial building, designed by John Wardle Architects, is the first of its kind in the James Street precinct, and will comprise almost 24,000sqm of net lettable space, across 15 levels. More than 300 workers are expected to be employed over the construction program, with 895 Ann Street’s anticipated completion set for April 2023.
With a striking dual frontage glass façade, the building will offer future tenants high quality, contemporary office space, ground floor retail and a roof-top bar, along with two levels of basement parking and end of trip facilities. The building’s environmental credentials will target a 5 Star Green Star and 5.5 Star NABERS energy rating.
“DWS are excited to partner with Consolidated Properties Group to deliver this modern prime grade office tower in Brisbane’s dynamic Fortitude Valley precinct. The development’s prominent location, striking design and first-class ESG credentials will set a new bench-mark for the modern day office,” said James Bartlett, Deputy Chief Investment Officer, Real Estate, Asia Pacific and Head of Real Estate, Australia at DWS.
Consolidated Properties Group CEO & Chairman Don O’Rorke said breaking ground on 895 Ann Street was a vote of confidence in the Brisbane market.
“Buildings of this calibre are a welcome addition to the Brisbane commercial landscape,” he said.
“We are moving ahead with construction now because we know there is appetite for this type of offering, and seeing the building take shape will motivate prospective tenants looking to occupy new space in the near term.
“This building will include a number of features and amenities designed to not only maximise efficiency but also create a desirable place to work.
“In the current environment it’s all about making workplaces an attractive place for people to collaborate, with spaces like our rooftop bar and the numerous cafes and restaurants along James Street providing a welcome environment for informal networking.
“The building will comprise flexible floorplates ranging from 1300sqm to 1500sqm, and tenants will have access to 103 car spaces on site, or can commute via the Valley Metro station just 650 metres away.
“Our experience with our neighbouring project, the award winning 900 Ann Street tower, has set a solid platform for us to continue to set new benchmarks in commercial design and development.”
Hutchinson Builders Chairman Scott Hutchinson said the project would be a landmark for the Brisbane CBD.
“Everything has come together in the right way – the location is highly desirable, the design is world class, the team is highly experienced and we are committed to delivering a built product that reflects the quality and uniqueness of the project,” he said.
“The great news is that we will be able to employ a few hundred local tradies, to help create a new workplace for inner city workers.”
Consolidated Properties Group has appointed Sam Barr of JLL to lead the leasing endeavour.