Courier Mail, Prime Site - The Eminence, a $40 million five-storey office/retail building, is a joint venture between boutique development company Pellegrino Group Australia and residential developer Mosaic Property Group.
CONSTRUCTION is set to start on Fortitude Valley’s newest office building.
The Eminence, a $40 million five-storey office/retail building, is a joint venture between boutique development company Pellegrino Group Australia and residential developer Mosaic Property Group.
Pellegrino Group director Paul Pellegrino said the partners will hold the boutique building as a trophy asset and it will be the headquarters for both companies.
“The Eminence has been specifically designed to provide optimal work-life balance with inspiration taken from coworking spaces to make it a flexible corporate environment for years to come,” he
“It’s a boutique building that’s built to give those businesses with a smaller footprint in Brisbane, bigger exposure – something larger corporate buildings generally can’t offer
Designed by O’Neill Architecture The Eminence is around the corner from the James St retail precinct. It has three basement car park levels, 305sq m of ground floor retail and 3400sq m of office space over five levels. It will also have a 320sq m roof top sky terrace.
Mosaic Property will anchor the building and occupy 1700sq m in the top two floors and half of Level 4 of which the other 300sq m half with be taken up by PGA which will move from its Newstead base.
CBRE’s Gerry Leyden and Michael Skaparis of CBRE and Alex Cameron and Sam Barr of JLL are marketing the remaining two floors of office space.
Mosaic Property managing director Brook Monahan said the McLachlan St site was chosen after an extensive two-year search for an appropriate new headquarters.
“We had a very stringent set of criteria for the property that would house our team and meet our requirements well into the future. The Eminence was the first property that met this criteria as an asset that we wanted to hold longer term,” he said.
In Brisbane, Mosaic currently operates Latrobe Tce, Paddington. The new Brisbane headquarters will spearhead its southeast Queensland presence which includes an office on the Maroochydore on the Sunshine Coast and its new Gold Coast at Broadbeach.
The Eminence is scheduled to be completed late next year.
Source: Chris Herde, Courier Mail, Prime Site, 2 November 2018