Revitalising Brisbane city’s riverside
Queensland Treasury managed the procurement for the construction of the largest commercial office building in Queensland, and one of the largest in Australia.
Department of Housing and Public Works
Project Deed / Leases
2013 – 2016
1 William Street is the largest commercial office building in Queensland and one of the largest in Australia and houses over 5,000 Queensland public servants.
Treasury Commercial group managed the procurement process and minimised investment and risk for government by securing 100 per cent private funding for the project and providing oversight of project delivery.
Cbus Property, an Australian property investor and developer, financed and developed the property, enabling them to build a presence in Queensland. Brookfield Multiplex partnered with Cbus Property to build 1 William Street and ISPT Super Property acquired 50 per cent ownership of the development.
“Bidding for the 1 William Street project and then negotiating terms with Treasury Commercial group was a breath of fresh air. The procurement process was focused, timely and the Commercial Group team was very responsive, which laid the foundations for a constructive working relationship – crucial for delivering this significant project. It was clear to me that the Queensland Government was committed to working with the private sector to deliver quality infrastructure. Winning this project has provided Cbus Property with the opportunity to establish itself in Queensland and focus on investing in further work in the state to create jobs for Queenslanders.”
Chief Executive Officer at Cbus Property Pty Ltd