Engineering firm upgrades to ex-Telstra HQ
Quintessential has secured another tenant for the CBD’s former Telstra House, which it bought a year ago and is now refurbishing.
Engineering firm KBR has committed to 2000 square metres, being levels 21 and 22, of the 26 storey office at 30 Pirie Street.
It will move from the city fringe Parkside – a low rise 2441 sqm building at 186 Greenhill Rd for which it is the sole occupier and has naming rights.
CBRE’s Michael Pfitzner and Andrew Bahr with JLL’s Tom Budarick and James Parkyn represented Quintessential; while rent hasn’t been disclosed, premium grade space in the CBD commands just over $400 per sqm, per annum, ex-incentives, according to industry research.
Telstra downsized to 6000 sqm at Charter Hall’s nearby new 60 William St.
Next chapter dialled in
KBR has signed for an initial seven years at 30 Pirie St, which contains 24,781 sqm (story continues below).
It will join Boeing, which has occupied c3000 sqm since 2018 and TSA Telco Group, which rents a mid-rise space of c2000 sqm.
Quintessential paid Australian Unity $73m for the asset; it was a tactical buy with the Melbourne fund manager also owning a neighbouring office, 100 King William St – twice.
Its $30m revamp covers the exterior, ground floor foyer, including a café, and adds end of trip facilities and a lecture-theatre style meeting room.
The KBR deal is turnkey kicking in mid-next year at which time the investment is expected to carry a 5-star NABERS Base Building Energy Rating.
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