Andrea Cano from Colliers International has struck a leasing deal with Queensland Coal Investments for new digs at 500 Queen St, Brisbane. Picture: Attila Csaszar
Andrea Cano from Colliers International has struck a leasing deal with Queensland Coal Investments for new digs at 500 Queen St, Brisbane. Picture: Attila Csaszar

Renewed mining activity in CBD

MINING-related companies are back on the move, staking claims for new corporate digs in the Brisbane CBD.

In one of the latest deals, Queensland Coal Investments has secured a five-year lease in Great Western Corporation's newly-refurbished 500 Queen Street.

The company, which is wholly owned subsidiary of Hancock Prospecting, is relocating from 82 Eagle St.

It will occupy 238sq m of office space on level 14 overlooking the Story Bridge and Brisbane River.

The deal is understood to have been struck at a rental rate of circa $600/sq m.

Leasing agent Andrea Cano from Colliers International said the commitment by Queensland Coal Investments reflected a resurgence in activity in the market from the mining sector.

"We're seeing a very positive sign from the mining sector in terms of activity," she said. "There has been quite a bit of movement over the past six months and I think it's a reflection of the turnaround in that sector."

Ms Cano negotiated the leasing deal with Queensland Coal Investments on behalf of Greater Western Corporation.

She also recently struck a five-year deal with Measured Consulting, a mining services consultancy firm, for 380sq m at 116 Adelaide St. It is relocating from 243 Edward St.

Other recent moves by mining-related tenants brokered by other agencies include Minserve relocating to co-working giant Hub Australia's site at 200 Adelaide St; Comet Ridge expanding into a sublease at 410 Queen St; and Newcrest Mining and Harmony Gold's Wafi-Golpu joint venture occupying 831sq m also in 500 Queen Street.

Ms Cano said Queensland Coal Investments was relocating to a slightly smaller space than its previous premises but the tenancy at 500 Queen Street offered a more efficient layout.

She said it also appealed because of its large windows and natural light as well as uninterrupted views of the River City.

"This office space was previously occupied by a legal services tenant so the fit-out was highly relevant to the business operations of Queensland Coal Investments," Ms Cano said.

"Being on the top floor in the building with uncompromised river views and natural light were a bonus.

"500 Queen Street has recently undergone a multimillion-dollar refurbishment which includes a new awning, refurbished entry foyer and lift lobby, updated modern lift cart interiors, disability access and new end-of-trip facilities with a hotel-style finish."


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