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BRISBANE, JUNE 21, 2013 – Citibank has leased 141 Queen Street as their new flagship branch in a deal negotiated exclusively by Jones Lang LaSalle’s Cameron Taudevin.
Citibank began the search for a tier 1, flagship branch site in late 2011, with a few options investigated until the QIC-owned 141 Queen Street was identified as the most viable.
On the corner of Queen and Albert Streets in the Queen Street Mall proper, the property affords an absolute prime retail position, in one of the country’s most trafficked pedestrian malls and is easily accessible for both business and individual customers of Citibank.
The flagship branch opened in May following a major refit of the former Guess brand tenancy.
“Previously located off the mall at the General Post Office building on Queen Street, the repositioning of both location and their latest branch format has made global player Citibank a major competitor in the local market.”
The 359sqm lease is over two levels with 115sqm on ground, and 244sqm on level 1.
Industry sources suggest the ten year deal was negotiated at approximately $1million per annum.
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