WeWork takes big office lease in Brisbane

WeWork’s new Brisbane hub, which will open mid-2020, will be spread across five levels of newly refurbished podium space and will house over 700 members, from start-ups through to large international enterprises.

“As we expand our Brisbane portfolio, the addition of 260 Queen Street will offer companies of all scales a light-filled, collaborative and innovative workplace experience,” said WeWork’s head of real estate, ANZ, Lachlan Buchanan.

Hines and its joint-venture partner Goldman Sachs acquired the
1970s-built, 23-storey building for about $95 million in July last year.

It recently appointed contractor Built to undertake an extensive $12.5 million refurbishment that will include a complete reconfiguration and orientation of the ground floor, replacement of the existing podium facade and significant building services upgrades.

“We are excited to be rejuvenating one of Brisbane’s most recognisable and well-located commercial office assets,” said Hines director Simon Nasa.

“This deal with WeWork further reinforces the strength of this location [on the corner of Queen Street and Post Office Square] and, along with the planned refurbishment works, will deliver outstanding amenity for the building and its future occupants,” he said.

Joseph Dean, national director of office leasing at Colliers International negotiated the leasing deal on behalf of Hines.

Hines Asset manager, Soosan Kim said: “Securing WeWork early in the marketing process is testament to the strategy and quality of plans we have for the building. WeWork is an excellent addition to the development.”

WeWork currently has over 10,000 members in 15 open locations across Sydney, Melbourne and Brisbane.