Tatts Scraps Development Plans To Lease Instead

Gambling company Tatts Group has made a shock decision to scrap plans for a new global headquarters at Newstead on Brisbane's fringe and instead lease space at Japanese billionaire Katsumi Tada's new $500 million office tower in the city centre, according to The Australian Financial Review.

Tatts Group will take about 18,000 sqm at the newly built 180 Ann Street tower alongside Commonwealth Bank of Australia.

Tatts currently leases space in five properties in Brisbane which will all be consolidated into the new headquarters.

Mr Tada's company Daisho built the tower on a speculative basis without a tenant pre-committed.

The 59,100-square-metre A-grade office tower will be 34 storeys tall.

Tatts' planned $100 million headquarters, a 17-storey tower at 11 Breakfast Creek Road Newstead, had been already approved by Brisbane Council.

Tatt's planned headquarters at Newstead which will not proceed.[/caption]