Morris Property Group unveils its plans for Eagle Terrace – a next generation, $250 million + office building in Brisbane’s North Quarter precinct.
It is the latest major office project for Morris Property Group (MPG), which is midway through construction of the new 26-storey Australian Taxation Office headquarters at 152 Wharf Street in Spring Hill.
As improving economic conditions drive an increase in new tenant requirements, MPG will this week finish clearing the site for its next undertaking, Eagle Terrace.
Originally slated for a premium apartment project, the 19 Eagle Terrace site has now been earmarked for a 24-storey, A-grade office tower, the design of which has been driven by human-centric and health-based concepts, with a COVID safe building design, a focus on sustainability, and state-of-the-art tenant facilities.
The landmark tower will comprise circa 19,182sqm of office space across 19 levels in addition to a spectacular rooftop breakout area, including a mediation and yoga terrace, offering tenants a flexible space to meet, retreat and work.
“We are very proud of the 152 Wharf Street project which is powering ahead and due for completion in 2022. The Commonwealth of Australia, represented by the Australian Taxation Office, has been great to work with in delivering this bespoke building, which will provide approximately 2400 staff members with a new home for the coming decades,” said Morris Property Group Director, Barry Morris.
“The new Eagle Terrace commercial office project sits on the cusp of the Brisbane CBD fronting the Brisbane River and enjoys spectacular views from all levels. Brisbane is certainly ‘coming-of-age’ and the current market conditions have provided us with the confidence to proceed with demolition of the existing office building.”
CBRE has been exclusively appointed to lease Eagle Terrace.
“The project launch coincides with a notable uptick in new Brisbane office requirements in the second half of 2021, as both larger occupiers and SMEs positioned themselves for an improving local economy,” said CBRE Brisbane Managing Director Chris Butters.
“As the market recovers in 2022, we expect to see a continuing tightening in the prime grade sector of the market, as tenants focus on improving their overall workplace offering.
“Growth industries are particularly active, with resources companies, local professional services groups, government agencies and tech firms dominating enquiries. We’re also finding that larger users are applying a wider geographic lens than they have in previous cycles with Brisbane’s North Quarter garnering the most attention in 2021, with major commitments from Great Southern Bank and APA Group.
“An overarching emphasis for active corporates has been a preference for side core floorplates that provide a contiguous workplace, allowing for both horizontal and vertical connectivity to help foster collaboration.
“The development’s location will be another key tenant drawcard, with the tower being within 300 metres of Roma Street Station and in walking distance of The Barracks, Roma Street Station, the Gallery of Modern Art, State Library, Queensland Museum, Suncorp Stadium, Roma Street Parklands, South Bank Parklands and Queens Wharf.”
The preference for larger side core plates has been incorporated in Eagle Terrace, which offers 1,013sqm floorplates and panoramic views over the Brisbane River.
The riverfront tower will also feature an active ground floor retail lobby, floor to ceiling glass façade to maximise light and views and premium end of trip facilities.
Innovative features have been incorporated to help reduce the impacts of public health occurrences like COVID-19, with touch-less features such as automatic revolving door lobby access, touchless Lift calling, and sensor taps to bathrooms and amenities.
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