Looking to the future

An extensive knowledge of all aspects of the local rental market, including identifying unfulfilled demand, is vital for a property development to be successful.

Privately owned property group Grosvenor has been established in Brisbane since 1992, actively building up an extensive knowledge of the property investment and development sectors.

Development director Graham Livingstone says that in 2005, the company recognised the twin factors of limited supply and high tenant demand for A-grade buildings with environmental credentials.

"We identified a prime cleared vacant site, one of the few in Brisbane's CBD. We recognised the North Quarter would be a logical location for a new development, given the substantial investment in infrastructure by the local government and council," he says.

400 George Street was a joint development venture between Grosvenor Australia and Leighton Properties, and continues their successful partnership building a Green Star-rated office tower in Sydney. Now jointly owned by Grosvenor and HSBC Trinkhaus, 400 George Street was awarded a 5 Star Green Star Office Design v2 rating from the Green Building Council of Australia. Its environmentally sensitive design includes measures to limit energy and water use, and to encourage tenants to contribute to the sustainability of the building. From an innovative formwork design that saved 40,000m² of plywood, to systems projected to save more than 700,000 litres of water and 100,000kg of carbon dioxide per annum, sustainability was a key design element. To ensure comfortable workspaces, floor-to-ceiling performance glazing around upper floors maximises daylight penetration.

"This building is designed specifically for corporate and government tenants who value environmental sustainability and who want to be employers of choice. We believe this development reflects a new era of healthier and more productive workplaces with quality work environments," says Livingstone.

As a result, 400 George has attracted high-profile tenants such as Lihir Services Australia, Queensland-based law firm Cooper Grace Ward and the Federal Government's Department of Environment and Resource Management.

Contact Grosvenor Australia, Level 16, 20 Hunter St, Sydney, NSW 2000, phone (02) 8227 7233, fax (02) 8227 7230. Email: graham.livingstone@grosvenor.com. Website: www.grosvenor.com.

Story by: Trendsideas