GPT secures leases with Afterpay and ELMO Software at Queen & Collins

The GPT Group has signed leases with leading Australian buy now, pay later platform Afterpay and cloud-based human resources software provider ELMO Software, at its recently completed Queen & Collins redevelopment. In securing the two leases, the tower precinct is now more than 47 per cent* committed.

Once the global headquarters of ANZ bank, the iconic 34-storey office tower owned by the GPT Wholesale Office Fund (GWOF) has undergone a $238 million redevelopment, including a sensitive upgrade of the three heritage-listed buildings surrounding the tower core. With state-of-the-art technology, the new space will provide premium amenity as teams seek space for collaboration and connectivity.

Martin Ritchie, Fund Manager, GWOF, said: “Queen & Collins will continue to be one of Melbourne’s iconic landmarks, and GWOF is thrilled to be providing Afterpay and ELMO Software with uniquely modern premises that will be leading the market in office space with cutting-edge technology and workspace design. Further to our Fund becoming the first portfolio of scale to achieve carbon neutrality last year, this project is at the forefront of environmental sustainability targeting a 5 Star NABERS Energy rating and 6 Star Green Star rating, offering a sustainable, boutique office experience in one of Melbourne’s most vibrant business locations.”

Afterpay have secured 4,802 square metres over four floors in the building, having sought a larger and more versatile space to reflect the company’s ongoing growth.

Afterpay Director of Property and Facilities, Tim Halpin said: “The Queen & Collins building was selected for its unique design, progressive technology solutions, and thoughtful layout which fosters community and collaboration. The employee experience at Queen & Collins will be like no other in Melbourne, and we are looking forward to sharing it with other like-minded businesses.”

ELMO Software CEO, Danny Lessem said: “The Queen & Collins building will be a terrific place for our people to come together and collaborate in a fit-for-purpose office that embraces the new way of working through smarter use of technology. We’re thrilled to be a part of the emerging tech hub forming in the Melbourne CBD and to join Afterpay in the Queen & Collins building.”

As part of GPT’s refurbishment, the gothic tower and historic buildings will be linked by a series of four ‘campiellos’ or outdoor courtyards and laneways. The redevelopment is expected to appeal to a diverse mix of businesses seeking their own floor of distinctive premium space, as businesses seek to draw workers into the city.

The lower levels of Queen & Collins will be home to restaurants and cafes, with the Grand Cathedral Room, formerly the Melbourne Stock Exchange, to house a high-end eatery. A basement bar will be positioned underneath the precinct, along with end-of-trip facilities and a hotel-style concierge will provide tenants with a range of services, from flexible work amenity to assistance with personal errands.

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About Warwick Petschack

Warwick has over 25 years of property investment and management experience. Principally responsible as Managing Director for Capital Management Australia and Joint Managing Director for Chauvel Capital Partners and Editor of Australian Property Markets News.

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