Cbus Property secures prime Brisbane CBD site for third landmark office tower, backing city’s next chapter

MAY 2026

Elizabeth Street acquisition reinforces Cbus Property’s focus on delivering future-ready office assets in key markets

National award-winning integrated property investor and developer, Cbus Property, has acquired a prime redevelopment site at 280 Elizabeth Street in the Golden Triangle precinct of Brisbane’s CBD.

The wholly owned entity of CBUS Super has secured a 100 per cent freehold interest in the 1,681-square-metre site for its third premium commercial office tower in the Queensland capital city.

The acquisition follows Cbus Property’s recognition at the recent 2026 Greater Brisbane Regional Architecture Awards, where two of its Brisbane developments, the recently completed 205 North Quay and subtropical residential tower 443 Queen St, received the Lord Mayor’s Brisbane Buildings that Breathe Architecture Prize, recognising design that responds specifically to Brisbane’s climate and prioritises how people live and work.

Cbus Property’s Chief Executive Officer, Chris Kakoufas, said securing another prime Brisbane CBD site for a next-generation office development reinforced “Cbus Property’s focus on delivering high-quality, future-ready office assets in key markets”.

“This acquisition will continue our track record of delivering exceptional developments that capture market uplift through advantageous timing and delivery excellence ahead of peak construction cycle conditions,” Mr Kakoufas said.

A construction contract with Hutchinson Builders, Cbus Property’s delivery partner on 205 North Quay and the currently under-construction 185 Wharf St, will be executed simultaneously with the site acquisition, providing delivery certainty.

Mr Kakoufas said the procurement approach was a defining feature of the proposed development.

“We are pleased to again be partnering with Hutchinson Builders, leveraging our long-established relationship and proven capability to work collaboratively to deliver high-quality built form,” Mr Kakoufas said.

“This approach draws on the principles established at 205 North Quay and that continuity – same builder, same standards – is a genuine competitive advantage in today’s market, directly benefitting the quality of what we deliver and enhancing delivery certainty.”

Hutchinson Builders’ Managing Director, Russell Fryer, echoed these sentiments.

“In the current market, working with like-minded partners with a proven track record is critical to delivery certainty,” Mr Fryer said. “We congratulate Cbus Property on this acquisition and look forward to continuing our partnership to deliver the project.”

The proposed development is well positioned to align with the next wave of anticipated occupier demand.

“What really sets this project apart is its broad occupier appeal,” Mr Kakoufas said.

“Rather than relying on a single anchor tenant, 280 Elizabeth Street has been envisioned as a flexible offering appealing to broader tenant segments, with an activated ground plane and the calibre of amenity increasingly expected in premium workplace environments.

“In the city’s premier financial and commercial district, this site is anticipated to have strong long-term relevance and occupier appeal, reflecting our strategy to actively respond to evolving customer demand, flight-to-quality trends and Brisbane’s growing recognition as a global business destination.”

Similarly to 205 North Quay, the tower will contribute to the life of Brisbane city through curated retail and a strong public interface. Inside, the focus will be on workplace experience, with wellness, end-of-trip and collaboration spaces that support how people want to work today and into the future.

In line with Cbus Property’s unwavering commitment to sustainability, 280 Elizabeth Street is being designed as a 100 per cent all-electric tower and targeting leading sustainability credentials, including 6 Star Green Star and 5.5-star NABERS Energy ratings.

Demolition works will commence immediately following settlement of the acquisition, with practical completion anticipated for mid-2030, during a period when it is anticipated there will be limited new premium-grade office supply in Brisbane’s CBD. Approximately 1,500 jobs are expected to be created on site throughout construction.