Allianz on the move in Brisbane’s CBD… literally across the road

BRISBANE, 6 October 2023 – Global firm Allianz Insurance is moving across the road – quite literally – to secure its place in Brisbane’s ‘Golden Triangle’ through a 10-year lease in Central Plaza at 345 Queen Street.

The landmark Brisbane office building is owned by ISPT, which has invested more than $30 million into the property during the last five years, including a multimillion-dollar ground floor and annex redevelopment and dedicated facilities and programs to shape a lively building community.

The three-floor deal was jointly brokered by Amanda Foggo, JLL Director Tenant Representation - Queensland, who acted for Allianz, and Malcolm Kemp, Asset Manager, ISPT, alongside James Vardanega, JLL Director, Office Leasing – Queensland, who worked in partnership to deliver on Allianz’s requirements.

Nicole Ward, Head of Portfolio, Office, at ISPT, said: “We are pleased to welcome Allianz Insurance to Central Plaza, one of Brisbane’s marquee office buildings.

“Our ongoing focus on investing and developing the building’s facilities, and its market-leading sustainability credentials, demonstrates our confidence and ongoing commitment at an asset and portfolio level to the Brisbane property market.”

Ms Foggo said the timing for the deal, which would see Allianz move from 324 Queen St, was fortuitous, with demand for commercial property in the CBD expected to surge ahead of the 2032 Olympics, set against a backdrop of limited new supply.

She said Allianz’s Brisbane team was looking for modern office spaces that were purpose-built to support their dynamic and flexible ways of working.

“Features like concierge, luxe end-of-trip facilities and ISPT’s onsite Flex by ISPT meeting and conference facilities for training, make Central Plaza very attractive to the market,” she said.

The parties plan to commence work on their new workplace in October, with a relocation planned at the end of first quarter 2024.
Mr Vardanega noted the deal as a showcase of the market’s ongoing flight to quality, where work environments were cleverly reimagined to both attract new staff and draw people back to the office.

“It also has strong sustainability credentials, offering high-quality accommodation to organisations with a de-carbonisation strategy or Net Zero carbon targets,” he said.

Gwendy Arnot, General Manager, Workplace Services at Allianz, said: “We’re really excited to move our Brisbane team into 345 Queen St.

“The strong sustainability credentials of the building, as well as the focus on tech-powered spaces to support in-person and virtual collaboration, align perfectly with Allianz’s values and workplace culture.”