The Urban Developer Secures New HQ in Restored $45m Hotel

After five years on Brisbane’s James Street, The Urban Developer has moved to a new headquarters at 388 Brunswick Street in Brisbane’s Fortitude Valley. 

The adaptive reuse of the former Dooley’s converted the pub and nightclub into commercial space, and The Urban Developer has taken up 390sq m in the fully leased heritage conversion. 

The Urban Developer joins Talentpath, The Agency, Hannay Lawyers, Pacific Eastcoast, Tutt Capital, Tessa Group and Bluebird Property Partners in Tutt Capital’s character-filled office asset at Fortitude Valley. 

A hospitality offering, yet to be announced, is also to join the line-up. 

“It was a pleasure working with Brendan Tutt and the team from Tutt Capital to secure an important part of our business’s future,” The Urban Developer chief executive Adam Di Marco said. 

“The opportunity to remain in the James Street precinct, while occupying a sensitively refurbished character building alongside fantastic local businesses was a very appealing proposition.”

The tenancy features traditional office space, flexible space to host events and seminars, and a live production studio that will be used to produce television-grade content. 

Tutt Capital director Brendan Tutt said gross rents in the building ranged from $850 per sq m to $875 per sq m, alongside rental income from a 139-bay carpark leased to Secure Parking and a soon-to-be-erected 48sq m digital billboard.

▲ The character conversion of a Fortitude Valley hotel is now 100 per cent leased, according to Tutt Capital’s Brendan Tutt.

The 2300sq m building, which was refurbished by Leon Bowes’ construction group, Apollo Property, and financed by MaxCap, forms part of a broader renewal strategy of the Brunswick Street precinct being undertaken by Tutt Capital. 

Tutt Capital also owns Cameron House and 75 per cent of Central Brunswick, investing more than $75 million on the street since 2021.

The development and investment company settled the acquisition of the building in March of 2023 for $21.7 million after acquiring it from Elmore Holdings, an entity linked to waste management and wine magnate Terry Peabody.

“We’re delighted to welcome The Urban Developer to 388 Brunswick and couldn’t think of a more meaningful tenant to help us build upon our vision for Brunswick Street,” Tutt said.