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News release


300 Queen Street remains a magnet for tenants after $10 million upgrade: Jones Lang LaSalle

BRISBANE, 22 JULY 2013 – An investment of some $10 million into 300 Queen Street has proven a smart move, with the CBD property maintaining its magnetism for tenants, according to Jones Lang LaSalle’s Gerry Leyden and James Montague, who have re-signed two major tenants with more to come.

Leading commercial lawyers ClarkeKann together with office support provider IBC have both re-committed to remain in the in the asset for another five years, with both continuing their already long-term association with 300 Queen Street  for over 10 years.
“Clarke & Kann have re-signed for 1,248sqm, which is just over a full floor in the building; while IBC has re-leased a full floor – 833sqm. Both new leases are for five years.”
“ClarkeKann have been a tenant since the building opened in 1985, and having continuity of tenure was important to us,” said CEO Anthony d’Arbon.  “Some recent upgrade works by the owner and a commercially attractive deal enabled us to achieve this,” he said.

The re-signings come as solicitors Holding Redlich also negotiated an additional 500sqm in the building to cater for their expanding business.

“Over the past 12 months more than $10 million has been invested in 300 Queen Street by owner the Seymour Group,” said Jones Lang LaSalle’s Gerry Leyden.
“This recent capital injection ensures that tenant drivers are being met and importantly, it enables 300 Queen Street to maintain its standing as high quality product in the Prime market.”

The refurbishment program encompassed a lobby refurbishment, lift modernisation programme, on-floor upgrades to services and amenities and a redevelopment of the retail offering. The program was specifically designed to meet direct tenant feedback, and to ensure that the level of amenity and presentation of the building was delivered. 
“The corporate elite still hold the prestige of a Queen Street presence of the upmost importance when considering their future office accommodation needs. This, coupled with the recent capital expenditure program has ensured that 300 Queen Street is highly sought after by existing and prospective groups,” said Leyden.

Industry sources have estimated the rental rate at 300 Queen Street as $685sqm.​