Cbus Property has secured its second commercial office project in Brisbane’s CBD, in a deal this week with local developer, Nielson Properties.
The project will combine neighbouring sites, 205 North Quay and 30 Herschel Street (one of the last undeveloped corner sites on Brisbane’s river), to transform a 3,000 square metre riverfront corner site into a $600 million A-grade commercial building.
205 North Quay is expected to add 50,000 square metres of net lettable area to the Brisbane CBD office market and responds directly to the emergence of the North Quarter precinct which has received record infrastructure investment.
CEO of Cbus Property, Adrian Pozzo, said that 205 North Quay is a major riverfront CBD site, ideally located to capitalise on the major infrastructure projects nearby such as the recently announced Roma Street Station, Brisbane Metro, Cross River Rail and Brisbane Live.
“The economic outlook for Brisbane is strong, with positive employment growth forecast to continue and Queensland’s economic growth also anticipated to continue to outperform the Australian average.”
“We will look to build on these strong economic foundations and our past success with 1 William Street, to deliver a premium and future-focused commercial tower for Brisbane’s CBD in collaboration with our partner, Nielson Properties,” added Mr Pozzo.
Founder and Managing Director of Nielson Properties, Ross Nielson, also commented that they are proud to partner with Cbus Property on this landmark riverfront commercial project.
“As a local Brisbane developer, we’re excited to be a part of the evolution of the North Quarter as it becomes a vibrant hub bolstered by outstanding connectivity to Brisbane’s CBD and premium infrastructure and amenity.”
The tower is expected to be complete by 2023.