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News release


QBE and AGS lease the Remaining Floors in 145 Ann Street

Just 5 full-floor new leases in the prime grade market this year:  Jones Lang LaSalle

​BRISBANE 8 November 2013 - QBE has leased 2,210sqm at 145 Ann Street in a two-floor deal negotiated by Jones Lang LaSalle’s Adam Barrett. AGS has also leased 1,106sqm in a deal negotiated by Adam Barrett and Gerry Leyden of Jones Lang LaSalle. 

While the 10-year lease deal to QBE and 8 year lease deal to AGS is significant for the market, it highlights that the Brisbane prime grade market has had extremely limited transactions this year. 

“On record there have been only 6 full-floor new lease transactions in the prime grade market in 2013 to date – and Jones Lang LaSalle has done four of them. Usually up to 20 or 30 such deals would be completed in a year,” said Mr Barrett. 

145 Ann Street was developed by Leighton Properties and pre-sold to Colonial in 2009. The Colonial-owned 145 Anne Street is now 100 per cent leased, less than 12 months after practical completion.

He cited the full-floor deal at Central Plaza One by PPB (insolvency company), the three floors at 145 Ann Street by QBE and AGS, and a floor at 400 George Street as the only deals done.

“QBE came to the market through CBRE’s tenant representative Matt Martin, and AGS through Stuart Alison of Corporate Real-estate Advisory” said Mr Barrett. 

Jones Lang LaSalle’s Adam Barrett has leased a majority of the building, some 24,000sqm; this included the major pre-lease deals negotiated with GHD and CUA. 

“The building is home to true corporates in this city, it delivers an excellent covenance,” he said.

The property was being market for $675sqm.