Skip to content
Article-Cross-River-RailImage: Artist render of 101 Albert Street

A major milestone has been reached in the development of a $750m mixed-use precinct opposite the Albert Street Cross River Rail (CRR) station.

QIC has submitted a Development Application (DA) to Economic Development Queensland (EDQ) for a premier mixed-use development at 101 Albert Street.

Ascribing a subtropical character and unique sustainable design, the development will create a distinctive urban marker in the heart of Brisbane city.

The application proposes 40-storeys of next generation workplace accommodation comprising best-in-class retail and dining concepts throughout the vertical village, and generous public and civic realm that can be used year-round.

QIC’s Cross River Rail Precincts Director, Chris Brown, said the development’s unique design would ensure it is recognised as a new landmark.

“Even before the announcement of the Brisbane 2032 Olympic and Paralympic Games, Brisbane was transforming into a truly international city with its own architectural sensibility that reflects our unique subtropical lifestyle, forward thinking culture, and deep connection to Country,” Mr Brown said.

“Brisbane deserves a new, city-shaping destination — a design that merges local character with global thinking. As a result, when viewed from the Albert Street Cross River Rail Station and street frontages, the tower will appear as a subtropical vertical garden, with seamless transitions between indoor and outdoor spaces. “We’ve also integrated the tropical foliage theme throughout the remainder of the development, including an expansive rooftop area that allows occupants to enjoy outdoor spaces, including a surrounding rooftop garden.”

The Albert Street Cross River Rail Station will be the first Brisbane CBD train station built in over 120 years, and QIC’s proposed vertical village at 101 Albert Street will amplify the city’s ambition — providing an iconic and distinctly Queensland arrival experience for the more than 67,000 commuters who are expected to use Albert Street Cross River Rail Station each weekday by 2036.

Capitalising on the dynamic arrival experience at the future Albert Street Cross River Rail Station, 101 Albert Street is expected to have a transformative effect on the surrounding streets, unlocking further development opportunities and enhancing pedestrian corridors along both Albert and Mary Streets.

“The location of the site within the Cross River Rail Priority Development Area and opposite the Albert Street Station creates the opportunity to provide a truly integrated precinct,” Mr Brown said.

“Due to its central address, 101 Albert Street will also be a connector to future developments, including Queen’s Wharf Brisbane, and complements the Albert Street green spine envisioned by Brisbane City Council.”

The Albert Street Cross River Rail Station and the proposed development at 101 Albert Street represents the future of Brisbane’s inner-city building design — combining commuter amenity and services with a mix of commercial, retail and residential space.

Designed in accordance with high environmental and sustainability principles, the proposal is pursuing an Environmentally Sustainable Design, targeting a 5-Star Green Star Buildings rating (Australian Excellence), and a 5.5-Star NABERS Energy rating.

QIC The complex aims to be a fully electrified, gas-free development, and has been designed to inspire and reflect Queensland Urban Heritage Principles and Brisbane City Council’s New World City Design Guide: Buildings that Breathe.

Both the architectural elements and environmental credentials of 101 Albert Street have been purposefully designed to meet new and emerging ways of working and provide a greater connection to nature and place. Tenants will have the option to seek refuge and inspiration in a variety of flexible working spaces that break down the barriers between traditional office buildings, public spaces and indoor/outdoor connection.

With a total site area of 2,500m2, the development will comprise ~45,000m2 of prime grade office and mixed use space, of which 31 storeys are proposed for office use, designed to suit a range of tenants through varying configurations, and nearly 4,000m2 of outdoor space.

Opportunities for active travel will also be encouraged, including more than 250 bicycle parking spaces and end of trip facilities.

QIC is committed to promoting agency through design and respectful engagement, fostering recognition of Aboriginal and Torres Strait Islander voices, history and connection to place. The design reflects the cultural significance of the site and prioritises upfront carbon reduction, climate change and resilience, and local procurement opportunities.

QIC has been appointed precinct developer for the above-ground Cross River Rail precincts at Boggo Road, Woolloongabba, Roma Street and Albert Street, leading the implementation of the Queensland Government’s Precincts Delivery Strategy for the benefit of Queensland.

“Brisbane is having a coming-of-age moment unprecedented in recent decades. Our city is revolutionising before our eyes into a truly global city with its own distinctive character, capable of holding its own on the world stage. At QIC, we’re thrilled to be a part of this metamorphosis,” Mr Brown said.

“This opportunity is only possible due to the exceptional work of the Queensland Government and the Cross River Rail Delivery Authority, who delivered the CRR Precincts Delivery Strategy — a key enabler for a development of this nature.

“We are proud to be entrusted with master planning the seamless integration between the Albert Street Cross River Rail Station, commercial accommodation, recreational and wellness spaces, public spaces, and our subtropical environment,” he said.

“QIC has over 30 years’ experience in asset stewardship and delivering value for Queensland, with longterm real estate investment and operational capability aimed at driving value.

“We have a strong track record creating urban destinations and vibrant neighbourhoods that power local economies, and will draw on this experience to develop the above-ground precincts.

“Most importantly, we understand space — civic and commercial space, green space, and public realm and community space — and what is required to achieve these by putting people at the heart of our planning. We then apply this expertise when delivering infrastructure, while also applying a disciplined commercial lens on our State’s long-term investment objectives,” he said.

Subject to approvals, at this stage construction of the Albert Street precinct is expected to be completed by late 2027.

The proposal is the first DA to be submitted within the Albert Street CRR PDA and is now being assessment by EDQ.

For more information, please contact:

More information

QIC is a trusted investment manager and adviser providing risk adjusted returns for the clients we serve. As one of the nation’s leading institutional investment managers, we deliver alternative real asset solutions across infrastructure, real estate, private debt, private capital, natural capital in addition to a liquid market offering for our 125 Australian and global clients. We also act as the Queensland Government’s independent investment advisor, managing a fully-funded Defined Benefit scheme and the Queensland Future Fund both of which delivers on the State’s long-term investment objectives. We have A$98.9bn in assets under management (as at 31 December 2022) and are headquartered in Brisbane, Australia, with offices in Sydney, Melbourne, New York, San Francisco and London.

For more information about QIC, our approach, clients and regulatory framework, please refer to our website www.qic.com or contact us directly.  

The statements and any opinions in this document (the “Information”) are for commentary purposes only and do not take into account any investor’s personal, financial or tax objectives, situation or needs. The Information is not intended to constitute personal legal or investment advice and it does not constitute, and should not be construed as, an offer to sell or solicitation of an offer to buy, securities or any other investment, investment management or advisory services. 

QIC Limited ACN 130 539 123 (“QIC”) is a wholesale funds manager and its products and services are not directly available to, and this document may not be provided to any, retail clients. QIC is a company government owned corporation constituted under the Queensland Investment Corporation Act 1991 (Qld). QIC is regulated by State Government legislation pertaining to government owned corporations in addition to the Corporations Act 2001 (Cth) (“Corporations Act”). QIC does not hold an Australian financial services (“AFS”) licence and certain provisions (including the financial product disclosure provisions) of the Corporations Act do not apply to QIC. Other wholly owned subsidiaries of QIC do hold AFS licenses and are required to comply with relevant provisions of the Corporations Act. QIC also has wholly owned subsidiaries authorised, registered or licensed by the United Kingdom Financial Conduct Authority (“FCA”), the United States Securities and Exchange Commission (“SEC”) and the Korean Financial Services Commission.