Office

An iconic inner-city commercial property, that has hosted some of world entertainment’s biggest names including Arnie, The Rock and Hugh Jackman is for sale.

Brisbane-based funds house Marquette Properties has swooped on an A-grade office complex in the city’s Southbank, snapping up a Grey St tower from Mirvac for just over $104m.

Brisbane’s office occupancy has had the biggest spike in the country despite the latest Property Council survey warning of a major swing in workers that now prefer to work from home.

The iconic Clocktower Square in The Rocks is set for a major transformation if approved, with plans to develop a luxury hotel, offices and retail outlets.

The property powerhouse has dived into the Canberra office market as companies take renewed interest in the national capital.

Occupier enquiry for office space during the past quarter has risen 30% compared to the same period in 2019, with prime grade assets attracting strong interest to lure new staff and see the workforce return from working from home.

Australia’s National Construction Code has no requirement to deliver a minimum standard of ventilation in buildings accessed by the public.

The move by the property fund manager shows its confidence in Sydney’s strata office market and that premium retail assets will come to the fore.

He was the unknown buyer of Adelaide’s old Holden factory and now this developer is embarking on an ambitious ‘build it and they will come’ plan.