Redevelopment of 200 Turbot Street Secures Conditional Agreement with Mirvac

The proposed redevelopment of 200 Turbot Street in Brisbane CBD, formerly rented out to The University of Queensland Dental School, has made a conditional agreement with Mirvac to secure a leasing pre-commitment for the new commercial high-rise.

With the conditional agreement in place, Deputy Premier and Minister for State Development Steven Miles said that the $670 million project is now one step closer to the goal and will help the state’s economic recovery post-COVID. 

“The major redevelopment is estimated to support about 360 jobs per year over a proposed three-year construction phase,” Mr Miles said. “Redevelopment of the site is conditional on Mirvac securing arrangements that will ensure the site becomes a vital part of Queensland’s commercial sector and stimulates construction activity.” 

Brett Draffen, the Chief Investment Officer of Mirvac, said that 200 Turbot Street will become a world-class workplace precinct that will “attract a high calibre of tenants.”

“The building will also benefit from significant government investment in local infrastructure including Cross River Rail, Brisbane Metro and Brisbane Live,” Ms. Draffen added. 

“We look forward to working with the Queensland Government, Brisbane City Council and our future occupants to co-create a next generation workplace that responds to the needs of a post-COVID-19 workforce and enhances the Brisbane CBD.”

Photo Credit: Google Maps

The site is next to the heritage-listed building of the former Brisbane Dental Hospital. The State Government expects that the redevelopment of 200 Turbot Street will also boost options for the lease renewal of its neighbouring building.