Central Queensland University (CQU) have decided to keep their name on the letterbox at 160 Ann Street after negotiating a new 15 year lease.
The original lease granted CQU six floors for three years, however the extension was pushed forward due to the university’s ambitions of expansion that required additional space.
JLL Property and Asset Manager Wayne Barnes said CQU negotiated with JLL to extend their lease to now cover eight floors in total.
CQUniversity Associate Vice Chancellor Graham Black said it was a very positive outcome, to be able to expand within their current building.
“The new space on Levels 20 and 21 will be used for CQUni Administration and Academic departments with the balance for libraries, student services and lecture areas,” he said.
“The campus already offers courses in Business, IT, Sonography, Chiropractic and Digital Media to approximately 1,500 students.
“The expanded footprint will enable us to increase the number of specialist courses on offer and to grow student numbers on the Brisbane Campus.
“The convenient location close to all forms of public transport is a real benefit to students and staff alike.”
The new lease was completed at $550 square metre.
CQU now occupies Ground (225 square metres) as well as level one, then levels four to eight, with their two additional floors being levels 20 and 21, as well as storage areas and the signage licence.
Their previous lease totaled 5,127 square metres, with their new lease 6,756 square metres, representing an additional 1,629 square metres.
The university’s move to expand in an upward fashion followed a growing trend of urban education facilities taking the vertical approach so as to avoid urban sprawl.
This week Western Sydney University officially unveiled its $220.5 million flagship campus in the Parramatta CBD.
Opened by New South Wales Premier Gladys Berejiklian, the 14-storey, five-star building will be the first vertical campus for the University, and the first of its campuses to be embedded in the heart of a major CBD.
It was named the Peter Shergold Building, and its campus will be home to 10,000 undergraduate and postgraduate students from the University’s School of Business and other discipline areas.