Goldfields has revealed plans for an A-Grade office in the heart of Fortitude Valley that it says will “fundamentally change the inner Brisbane office market”.
As confidence in the Queensland capital’s office market steadies, the developer has filed a development application for an 18-storey office at 88 Robertson Street in the James Street precinct.
Goldfields bought the 2002sq m site from Azure Development Group in August for $17.1 million. Prior to that it last sold in 2022 for $13.6 million.
The Cox Architecture-designed project is 650m from the Valley Metro station, near theHoward Smith Wharves and 2km from the CBD.
The $250 million redevelopment will revitalise the site which was once the home of KC Dry Cleaning.
The plans detail 16,000sq m of commercial office space plus a rooftop restaurant, ground-floor cafe, al fresco winter rooms and end-of-trip facilities.
Goldfields chief executive officer Lachlan Thompson told The Urban Developer they were a “big believer in the future of the Brisbane office market”.
“Goldfields is greatly encouraged by the solid fundamentals underpinning the market—positive movement in effective rents, low vacancy rates, and record interstate and international migration into South-East Queensland,” Thompson said.
“The Olympics-led boom will help push Brisbane’s growth even further.
“And our investment in the James Street precinct will help ease the current pressure on vacancy rates by breathing new life into the undersupplied CBD fringe.
“Once complete, 88 Robertson Street will set a new standard for the commercial office experience in Brisbane.”
While the development application has not yet been made available on the Brisbane City Council planning portal, subject to approval and conditions construction is slated to begin in September of next year ahead of practical completion in October, 2027.
This is not Goldfields’ first foray into the Brisbane market—in 2022 it launched plans for an 18-storey apartment project at 33 Manning Street, but that project has stalled for want of a builder.
The developer has been more successful elsewhere, beginning work on its first build-to-rent project, in the Melbourne suburb of Windsor, last month and lodging Richmond tower plans earlier this year.
Brisbane has proven a bright spot in an otherwise difficult office market this year.
While it is being hindered by supply issues, with no new of available space expected to enter the market until the first quarter of 2026, prime vacancy rates in Brisbane CBD are under 10 per cent, according to JLL.
