Australia Post has secured a new 99-year leaseholder for Brisbane’s heritage listed General Post Office (GPO), marking a significant step in the revitalisation of one of the city’s most iconic buildings.
Real estate investment management and advisory firm Mackwell will transform the landmark property at 261 Queen Street into a vibrant mixed-use destination.
Australia Post will maintain a presence within the precinct through its Brisbane GPO Post Office, which will continue to offer a full range of postal services in Brisbane’s city centre.
Australia Post Group Chief Financial Officer Craig Roberts said securing a leaseholder aligns with the organisation’s long-term strategy to unlock value from underutilised assets while reinvesting back into its core network.
“Securing a leaseholder allows this iconic building to be revitalised and activated for the benefit of Brisbane, particularly ahead of the Olympics, while enabling us to reinvest in our network to better support customers and businesses across Australia.
“We know how important our services are to the community and the Post Office will continue to operate from this site, ensuring CBD workers and residents have easy and convenient access,” Mr Roberts said.
Purpose-built for the Australian postal network in 1872, the heritage listed building was offered to the market as a leasehold for the first time in its long history.
Plans for the blue-chip Brisbane CBD asset will embrace and preserve the building’s rich heritage, while delivering a premium retail mix and new office spaces. The development will. complement the Queen Street Mall and surrounding commercial and cultural areas, and contributes to the evolution of Brisbane’s city centre ahead of the 2032 Olympic Games.
Mackwell Managing Director John Robson said the firm was excited to usher in a new era for the iconic building.
“As one of the oldest buildings in Brisbane, the GPO is a landmark, character-filled property that offers a rare opportunity to curate a premium offering within Brisbane’s best retail and office precincts.
“We’re looking forward to planning the next chapter for the GPO,” said Mr Robson.
The transaction was brokered by CBRE Capital Markets – Offices, Queensland.
The Brisbane GPO Post Office will continue to trade as normal in its existing location from Monday to Friday, 8.30am to 5.00pm and 9.00am to 12.30pm on Saturdays.
