Office tower asset in Brisbane’s Golden Triangle hits the market

The opportunity to acquire a 100% freehold interest in one of Brisbane’s most prominent office towers, 500 Queen Street, is expected to attract widespread investor interest. 

Following an extensive capital expenditure program, Shakespeare Property Group is divesting the asset which occupies a 1,052 sqm corner site with frontage to Adelaide and Queen Streets at the entrance to Brisbane’s pre-eminent office precinct, the Golden Triangle.

CBRE’s Peter Chapple and Jack Morrison and MP Commercial’s Mike Walsh and Peter Court are managing the sale via an Expressions of Interest Campaign. 

Mr Chapple noted the prime office tower offers a well-diversified income stream with a mix of local, national, international and government tenants across a range of industries all set to benefit from the strengthening Brisbane and Queensland economy.

“500 Queen Street offers an excellent opportunity to secure a Brisbane Golden Triangle office asset with outstanding fundamentals at an attractive lot size. The building’s high profile corner position provides river views from all levels, excellent natural light on all sides and has consistently attracted a host of high-quality occupants,” Mr Chapple said.
 
The asset includes 6,883sqm of office space and 134sqm of retail for a total net lettable area of 7,024sqm. The current owner, Melbourne based Shakespeare Property Group purchased the property in 2022 and has seen average rent growth of approximately 15% in their time as owner.  

“The Brisbane office leasing market has recorded the strongest effective rental growth in the country in the last few years, pushed by limited supply and surging construction costs. With limited forthcoming new construction, the value of existing quality assets, such as 500 Queen Street, is expected to continue its upward trajectory,” Mr Walsh of MP Commercial added.

The Expressions of Interest Campaign will commence on April 14, 2026.