Charter Hall puts prime Brisbane CBD site on the market

Charter Hall Group (Charter Hall or the Group) is pleased to announce that on behalf of the No.1 Brisbane Partnership, it has put No.1 Brisbane, comprising three adjoining buildings - 217 George Street, 60 Queen Street and 231 George Street - on separate ¬titles onto the market.

The properties were acquired in July 2018 with a development approval (DA) in place for an 81 storey residential tower scheme. Since that time, Charter Hall has added significant value by increasing occupancy to ~90% (by income) and securing, a DA for a landmark, 34 storey, commercial office and retail tower in December 2020. Designed by award-winning architects Blight Rayner, the DA comprises a total of 24,490sqm (NLA) of office space and 2,150sqm (NLA) of ground floor and podium level prime retail space over 4 storeys as well as basement parking for 94 cars and 213 bikes.

Charter Hall’s Managing Director and Group CEO, Mr David Harrison, said “Following the success of securing a new commercial DA for the site, the investors in the Partnership have decided to realise their investment.”

Located on one of the most prominent corners in the Brisbane CBD, at the corner of George Street and the southern end of Queen Street Mall, No.1 Brisbane is well positioned to capitalise on the $13 billion of projects in the immediate precinct including Queens Wharf, Cross River Rail, Brisbane Live and the Brisbane Metro.

The building’s sale campaign, is being handled by CBRE’s Bruce Baker, Peter Chapple, Tom Phipps and JLL’s Seb Turnbull and Paul Noonan.