QUEENSLAND Minister for State Development, Infrastructure and Planning Jeff Seeney and Treasurer and Minister for Trade Tim Nicholls this week joined representatives from Cbus Property at a sod turning event to celebrate the start of construction of the 1 William Street project.
Cbus Property secured the contract to develop the $653 million tower in December last year, which will be home to Queensland's public service and provide 75,000 square metres of net lettable area, including 1,100 square metres of retail and 318 car spaces.
The Queensland Government will utilise approximately 60,000 square metres of the 43-storey building (or 258 metres including spire), with the remaining space to be made available for sublease by the private sector.
According to Cbus Property, 1 William Street will include a high level of environmental credentials, targeting a minimum 5.0 Star Green Star Office Design Rating (V3) and a 5.0 Star NABERS Energy Rating. It is expected to be completed by the end of 2016.
The project is part of a $2 billion plan to renew the Government Administrative Precinct, which stretches from Queen Street to the Botanic Gardens, and from the river's edge to Albert Street. It aims to rationalise the government's office portfolio and revitalise the precinct through mixed-use development.
Mr Nicholls said the 1 William Street development will be the largest commercial office building in Queensland and one of the largest in Australia. The site, which has been vacant for decades, was formerly used as a car park.
"As Cbus Property indicated, when we announced the award of this Project just a few months ago, more than 1,000 direct jobs per year will be required on site as the development proceeds, which will also have a positive impact on indirect jobs and the overall economy," Mr Nicholls said.
"Since the announcement of Cbus Property as the successful tenderer, development work, both on and off site, has been proceeding at a great pace," the Minister said, adding that such work has included geotechnical and soil investigations, site surveys and development approval applications.
Mr Seeney said the timely approval process was helped by the team's professionalism in preparing the documents for approval and the spirit of cooperation and collaboration from State agencies and Brisbane City Council.
"While it is very early in the delivery process, the fast pace they have set now means that works are proceeding well ahead of the original development program," Mr Seeney said.
"This is a very large project and the excavation and foundation work will be the major activity on site for the next 10 months or so."