Brisbane’s 500 Queen Street Premium Office Tower Listed
An office tower in Brisbane’s Golden Triangle has been brought to market, with expectations of strong investor interest as capital returns to the CBD.
The premium-grade asset comprises a 100 per cent freehold interest in the prominent commercial building 500 Queen Street on a 1052sq m corner site at the intersection of Queen and Adelaide streets.
Melbourne-based Shakespeare Property Group is divesting the property following an extensive capital expenditure program undertaken since its 2022 acquisition.
The 14-storey tower comprises 6883sq m of office space and 134sq m of retail, delivering a total net lettable area of 7024 square metres.
CBRE’s Peter Chapple and Jack Morrison, alongside MP Commercial’s Mike Walsh and Peter Court, have been appointed to manage an expressions-of-interest campaign for the tower.
Chapple said the asset was a “rare opportunity to secure a well-positioned office tower within Brisbane’s premier commercial precinct”.
He said the building offered a diversified income profile supported by a mix of local, national, international and government tenants.
Chapple said the corner position provided river views from all levels and strong natural light, contributing to its appeal to high-quality occupiers.
Shakespeare Property Group recorded average rental of about 15 per cent during its ownership.
The sales campaign comes amid a reactivation of Brisbane CBD investment activity, particularly across the Golden Triangle and core office precinct.
Transaction include Corval’s acquisition late last year of 545 Queen Street for about $86.5 million.
Other CBD transactions included the $52-million sale of 63 George Street to Marquette Properties in August, 2025 and the $10.3-million sale of 418 Adelaide Street, settled on May 28 that same year.
Walsh said Brisbane’s office leasing market has experienced the strongest effective rental growth nationally in recent years, driven by constrained supply and rising construction costs.
He said limited new development in the pipeline is expected to underpin further value growth for existing prime-grade assets.
The expressions-of-interest campaign is due to launch on April 14.
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