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News release

Brisbane

Barry.Nilsson.Lawyers expand in Brisbane


BRISBANE, Wednesday 28 August, 2013 – Jones Lang LaSalle’s James Montague and Gerry Leyden have successfully renegotiated the lease for Barry.Nilsson.Lawyers within 215 Adelaide Street in Brisbane for a further 10 years, over 2,411sqm.

The legal firm, celebrating its 50th anniversary in 2013, has expanded by almost 500sqm in the building, with an internal relocation within the asset to the building’s two top ‘flagship’ floors.
 
Advised by Michael Greene, Jones Lang LaSalle’s QLD Head of Tenant Representation, Barry.Nilsson took an open brief to the market. Mr Greene noted that, “A large number of CBD options were submitted, and after a thorough assessment of the options, Barry.Nilsson elected to remain within 215 Adelaide Street.”

“Barry.Nilsson.Lawyers were leasing all of Levels 14 and 21 (approximately 1,800sqm). Their newly negotiated lease will see them surrender Level 14, re-sign level 21 and take on Level 27 and Level 28 for a new total of 2,411sqm,” said Jones Lang LaSalle’s James Montague.
 
“The new lease and Barry.Nilsson.’s long term commitment to the building is exciting news for 215 Adelaide Street, which is set to undergo a major redevelopment under the new owner, a Pramerica Real Estate Investors (PREI - Pramerica) managed fund.”
 
"The multi-million dollar redevelopment includes a new retail offering and building upgrade including a new commercial office lobby – it’s a fantastic project that will deliver excellent tenant benefits,” said Mr Montague.
 
PREI Managing Director (Australia), Steve Bulloch advised that the Development Application had recently been lodged with Brisbane City Council with expectations that major works will commence in Q4 2013. Negotiations are advanced with a top tier builder. Further to the Barry.Nilsson. lease deal, a number of AFLs have been signed with well-known retailers which will lead to a series of announcements in the near future.”
 
“The affirmation from Barry.Nilsson.Lawyers is an endorsement of the proposed works and repositioning of the asset which will be seen as a true corporate presence in the Brisbane market.”
 
This was further reflected in comments from Don Leembruggen, Managing Partner at Barry.Nilsson. “The market provided a series of diverse options however the location of 215 Adelaide Street provides a number of benefits to our business and the plans for the asset that Pramerica have committed to ensure the asset is befitting of our corporate needs and desires as we continue to grow and maintain our position as a leader in Insurance & Health, Property & Commercial and Family Law,” said Mr Leembruggen.
 
215 Adelaide Street won the award for Best Sustainable Development - Existing Buildings - as nominated by NDY at the 2013 Property Council of Australia / Rider Levett Bucknall Innovation and Excellence Awards. The Awards celebrated innovation and leading practice within Australia’s property development and investment industries.​