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News release

URBIS takes 1500sqm at DEXUS’s 123 Albert Street: Jones Lang LaSalle

Brisbane’s mid-town on a long term roll

BRISBANE, September 20, 2011 – The professional property consulting firm URBIS has taken a 1500sqm lease in the recently-completed 123 Albert Street, a sign that Brisbane’s mid-town is gaining momentum, according to Jones Lang LaSalle’s Mark Curtain.
Curtain, who also negotiated the lease, said Brisbane’s mid-town was well positioned for the future growth of the CBD, with an immediate boom of developments, and a pipeline over the next five years to support as well.
“URBIS has taken all of level 7 in DEXUS Property Group’s 123 Albert Street, completed in July this year,” said Curtain.
“They had been actively looking in the market for six months with the aim to stay in the mid-town, central location, which gives them access to both the corporate community and the Government sector, as well as being close to the Queen Street Mall for their staff,” he said.
123 Albert Street is anchored by Rio Tinto and will be officially opened in October 2011.
DEXUS Head of Developments Tony Gulliver said: “DEXUS is delighted to welcome Urbis to 123 Albert Street, our flagship office property in Queensland and Brisbane’s first 6 Star Green Star premium grade building. 123 Albert Street is now 90% leased, demonstrating the appeal of the very latest in workplace quality and sustainability."

Mr Curtain said the Urbis move from its existing premises at 120 Edward Street represents an expansion for their growing business. 
“Urbis saw 123 Albert Street as the building that gives them the opportunity to upgrade their office fitout and facilities, with the larger floorplate playing a deciding role.”
“123 Albert Street has offered to the market 38,760sqm of lettable space, with large floorplates, world leading technology and sustainability systems, and a prime location. In addition, the development is the city’s first premium grade 6 Star Green Star office high rise – it’s an important development for Brisbane as a leading commercial property market,” said Curtain.
“The growth of the mid-town precinct, led by 123 Albert Street and others like AM60 at 42 Albert Street, the QIC Tax Building at 140 Elizabeth Street and the ATO’s recent pre-commitment to 55 Elizabeth Street is an important step in ensuring the CBD is strong throughout all areas, from the riverside and Golden Triangle, right up to North Quay,” he said.
“Importantly, the mid-town also has a five-year pipeline of supply in 111 Margaret Street, the redevelopment of The Regent as well as the supporting infrastructure such as the proposed Albert Street Train Station. This is exciting for our city and our market.”