May 6, 2010Investors are being offered the chance to purchase one of Queensland’s true real estate icons, following the listing of Brisbane’s Westpac Building by
Savills.
Located in the heart of the CBD at 33 Queen Street, the Westpac Building was home to the first bank in Queensland - the Bank of New South Wales, in 1850.
It was also the first branch of any bank in Australia.
Stuart Moody and Peter Chapple of Savills are offering the building for sale by an Expression of Interest campaign closing mid-June 2010
QUEENSLAND ICONNestled in a prime position on the corner of Queen Street Mall and George Street, the original two-storey building was demolished in 1862 to allow for a new stronger bank building to be constructed.
Later in 1930, this building was also demolished to make way for the current building.
The Westpac Bank owned the building for 150 years when it sold it to a private family in 2004.
The new owner built a new 9 level office tower on the car park at the rear of the site, and interestingly, this building is now home to one of Australia’s newer financial institutions, Members Equity Bank.
Other tenants in the new tower include Italian Consulate, Interpro, and Australian Migration & Visa Lawyers.
Two buildings make up the offering, the original Chamber building of 5 levels with a NLA of 3,369sqm, and the new adjoining 9 level tower with a NLA of 2,782sqm and basement car parking for 15 vehicles.
Both buildings are almost 90 percent leased with final negotiations in play over the recently vacated 434sqm on Level 4.
