Energy giant ConocoPhillips signs on at Brisbane office
An extensive and ongoing refurbishment program at a Park Rd office block in Brisbane’s prime fringe market in Milton has netted a long-term lease from one of world’s leading energy sector operators.
ConocoPhillips has leased 3085sqm over level one and part of level two at 33 Park Rd, which is now recognised as one of Brisbane’s largest fringe CBD, transit-oriented sites and commercial assets.
The seven-year lease includes 105 undercover and secure car bays.
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JLL Queensland regional director – head of property and asset management Brett Stack says the property appeals to the energy giant for its location close to Milton Rail, the new Park Road Ferry Terminal and local amenities, along with works recently undertaken to improve the building.
The four-storey office is undergoing an extensive refurbishment program, including a lift upgrade, foyer and forecourt modernisation and on-floor refurbishment works.
Originally completed in 1988, the building offers a total net lettable area of 7208sqm of office space and 187 car parking spaces in the secure undercover basement car park.
The office’s foyer is part of a significant refurbishment.
“Within eyesight of the Brisbane CBD, 33 Park Rd is a prime inner city commercial asset,” he says.
“Recent building improvements include a refurbished foyer, amenity upgrades with showers, toilets and 40-bike end-of-trip-facilities including lockers and racks, new storage area, new lift cabs and balcony upgrades.”
“Owner investment into what tenants want will always result in a quality tenant mix.”
“Landlords who understand key tenant drivers and continue to improve their assets in line with these will continue to be an attractive option in the marketplace.”
Stack says the improvement program is expected to be completed by the end of July, with current work focusing on redeveloping the forecourt facing Park Rd to include new green space, signage opportunities and surface treatments.
“With over $15 billion in nearby infrastructure and investment projects in the pipeline, including the TransApex Road Network, Kurilpa Riverfront Renewal Project, South Bank Cultural Precinct and Queens Wharf, 33 Park Rd is set to continue to benefit from extensive development and investment in its immediate vicinity,” Stack says.
The property is located 2km from the Brisbane CBD and within 20m of Park Rd’s renowned cafe precinct.
