OfficeHudson FarrTue 18 Aug 26
Brisbane’s 24-Storey 300 Queen Street Comes to Market in Golden Triangle
Brisbane’s 300 Queen Street has hit the market offering a secure, high-quality tenant mix and $9 million in capital works, as the River City continues to attract investors chasing quality assets in the city’s tightly held Golden Triangle.
Marketed by JLL, the tower comprises 24 levels of A-Grade office and retail space for a total of 19,600sq m. The tenant mix includes financial services, legal and tech companies.
JLL head of capital markets, Queensland Paul Noonan said demand was hight for assets with significant capital already invested.
“300 Queen Street is a compelling investment proposition underpinned by substantial capital enhancement and strong rental growth,” Noonan said.
“The building‘s investment program has repositioned the asset within Brisbane’s A-Grade market, creating a highly sought-after workplace in the Golden Triangle precinct.”
Since 2018, the owner has undertaken a substantial program of improvement including a ground-floor lobby refurbishment, lifts modernisation upgrade, improved end-of-trip facilities and building management system enhancements to align the asset with evolving occupier requirements, JLL said.
The listing is expected to garner interest from a variety of domestic and offshore investors looking to gain exposure to Brisbane’s core CBD office market.
JLL head of capital markets, Australia and New Zealand Luke Billiau said international capital was continuing to target Brisbane’s office sector.
“We’re seeing sustained demand from global capital for well-positioned Brisbane office opportunities, reflecting confidence in the city’s long-term growth trajectory and its emergence as a genuine investment-grade market on the world stage,” he said.
The listing comes as deals in the Golden Triangle make headlines.
In July, Dexus completed one of Brisbane’s largest commercial property transactions of the year, agreeing to sell its 50 per cent interest in the premium-grade 480 Queen Street office tower as part of a deal valued at $700 million.
Nearby, the development arm of superannuation giant Cbus filed plans last month for a 40-storey all-electric “quiet tower” as part of its strategy of delivering future-ready office assets.
Overall, it would deliver almost 33,600sq m of A-grade office space to the site at 280 Elizabeth Street.
Under the plans, a piece of the city’s telecommunications history —the 10-storey Telstra-Edison Telephone Exchange built in 1963—would be demolished to make way for the next-generation commercial skyscraper.
Also that month, a 70-key Brisbane CBD hotel on the edge of the city’s Golden Triangle changed hands for $28.6 million.
Madison Hotel Group sold the 1462sq m freehold site at 239 Wickham Terrace to privately owned Brisbane hotelier Samdoo Corporation, the operator of the Hotel Diana brand.
Post-Covid occupier demand has remained strong in the city, with Brisbane delivering Australia’s standout performance over the period. That rental growth has been driven by a combination of rising face rents and tightening incentives.
As well, the city is experiencing a momentum underpinned by public and private investment transforming the city, such as Queen’s Wharf, Waterfront Brisbane and Brisbane Metro.
It is anticipated strong occupier demand will continue ahead of the Brisbane 2032 Olympic and Paralympic Games.
The 100 per cent freehold interest in 300 Queen Street is being offered through an international expressions of interest campaign due to close Septmber 2.
