15 Feb 2022

Dexus secures precommitments for Waterfront Brisbane development

15 February 2022

Dexus secures precommitments for Waterfront Brisbane development

Dexus announces it has reached Heads of Agreement with two major customers across circa 19,300 square metres to anchor the first of the two office towers within its city-shaping Waterfront Brisbane development.

Deloitte has agreed terms for 12,865 square metres of office space across eight of the sky rise floors in the North Tower, which includes up to 30% more space than their current Brisbane lease at Riverside Centre. In addition, MinterEllison, which is currently located at Dexus’s Waterfront Place, has agreed terms across 6,476 square metres, taking up four floors in the mid-rise of the North Tower.

Terms for both MinterEllison and Deloitte have been agreed on a non-binding basis, with binding documentation (once finalised) committing both customers to the new Premium Waterfront Brisbane development after more than 20 years in their existing offices.

These agreements represent approximately 28% commitment of the total office space in the North Tower.

Kevin George, Executive General Manager, Office at Dexus, said: “We are seeing many organisations engage around the quality of their future workplace, and these commitments demonstrate that high quality workplaces will continue to play a key role in business strategies in a post pandemic environment. We look forward to working with Deloitte and MinterEllison to deliver their next generation workplaces as we advance our Waterfront Brisbane development.”

John Greig, Managing Partner, Queensland at Deloitte, said: “This move to Waterfront Brisbane will further empower our people to make choices about the way they live and work, provide access to the latest workplace design and technology and continue our focus on reducing our carbon footprint. Our new workplace will also allow for the continuation of our incredible growth journey where we are now the largest professional services firm in Queensland.”

Virginia Briggs, CEO of MinterEllison, said: “The past two years have ushered in new ways of working that have fundamentally changed how we operate as a business. We are delighted to be partnering with Dexus to create our office of the future; one that facilitates great client engagement, enhances the wellbeing of our people and enables our teams to truly innovate, connect and collaborate. We are excited that Dexus' Waterfront Brisbane development will deliver this.”

Waterfront Brisbane is set to deliver a global-standard business and tourist destination that aims to maximise its prime riverside location with enhanced open spaces and amenity and a revitalised premier waterfront dining hub. The $2.1 billion transformation of the Eagle Street Pier and Waterfront Place precinct has received development approval from Brisbane City Council, with construction expected to commence in mid-2022 and the first office tower due for completion in 2027.

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