CENTRAL Queensland University (CQU) has called 160 Ann Street home for the past six years, and off the back of its latest lease agreement it will continue to do so for the next 15.
The deal to expand CQU's lease was negotiated by JLL manager of property and asset management Wayne Barnes, which included additional floors amounting to an extra 1,629sqm within the building.
Now extended to a 15-year term, the deal also included a surrender and renegotiation of the original lease to accommodate the significant upgrade.
"CQU had some three years left on their current lease in the building which covered six floors, however they were looking to expand and required additional space," says Barnes.
"Fortunately, we were able to accommodate them within the building and they have extended their lease to now cover eight floors in total."
CQU's associate vice chancellor Graham Black says the lease upgrade will allow the university to offer more courses to a greater number of students.
"The campus already offers courses in Business, IT, sonography, chiropractic and digital media to approximately 1,500 students," says Black.
"The expanded footprint will enable us to increase the number of specialist courses on offer and to grow student numbers on the Brisbane campus."
CQU now occupies the ground level, level one, levels four through to eight, and now additional levels 20 and 21 as well as storage space and the signage license.
The new levels will be used for CQU's administration and academic departments, with the remaining floors to be used for libraries, student service and lecture areas.Never miss a story: Sign up to Business News Australia's free news updates.
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