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Penney's Refurbished Office Building Shines with New Life

Jess Freeman • 09/06/2023


DeMartini Fletcher is a veteran in the property investment and development game having restored multiple heritage character buildings to cater for modern business office requirements. Their latest project is taking place in Stones Corner at 357 Logan Rd, an area which is set to exponentially grow over the next decade with the Olympic Stadium set to be built only a suburb away.

Brisbane's CBD Fringe is seeing a growing trend of developers repurposing old buildings for new tenants, due to a number of factors from limited availability of land to providing new and modern facilities for tenants without needing to find new land or starting from scratch.

Repurposing old buildings often adds character and charm to the area, which can attract more tenants who value unique and interesting office spaces. This trend also aligns with the growing demand for sustainable development practices as repurposing old buildings is an eco-friendlier option than demolishing and rebuilding new structures.

Stones Corner, a bustling retail, office, and residential precinct in Brisbane's CBD Fringe, is set to welcome a newly refurbished building to its thriving community.

357 Logan Road, Stones Corner is a 1938 heritage building, formerly occupied by international retailer Penney's, is currently undergoing a significant refurbishment and development to reinvigorate its character and bring it into the modern era.

The building boasts an impressive design, featuring natural light from skylights throughout the timber trussed roof, an automated louver system for controlled ventilation, and a modern two-storey extension with a contemporary façade, seamlessly integrating heritage and modernity.

The 2,020 sqm building has 29 secure car parks over two levels and a dedicated delivery bay allocation, offering tenants a range of leasing options. With its proximity to Stones Corner Village and ongoing government infrastructure projects, the building is poised to become a prime location for businesses and residents alike.

According to leasing agent Billy Miller of Cushman & Wakefield, the developer has done a large refurb to reinvigorate the character feeling and history of the building by creating more natural light through the timber truss roof, for the 1938 building, previously home to international retailer – Penney’s

“Located in the heart of the bustling retail/office and residential precinct of Stones Corner, and just 5kms from the Brisbane CBD, the building benefits significantly from its proximity to the successful Stones Corner Village, comprising of boutique and urban-style cafes, restaurants, and shops,” said Mr Miller.

“Stones Corner is one of the key precincts set to profit from the enormous ongoing government infrastructure spend including but not limited to; Cross River Rail, the Gabba precinct redevelopment and the 2032 Olympics.

“These projects will ignite the already bustling atmosphere that is the Stones Corner/Woolloongabba precinct. This activity has fast tracked residential activity with six approved residential towers totalling over 400 apartments in a 200m radius of the site” he continued.

Built in 1938 and occupied by international retailer Penney’s, the building oozes heritage character, feel and history. Initial design inspiration was to include enhanced amounts of natural light achieved from skylights throughout the timber trussed roof and huge showroom style windows along the façade.

The building’s extensive refurbishment will bring it into the modern era receiving new A grade services and amenities, integrated breathable building technology, via automated Louver system for end user control of seasonal weather environment within the workspace and a modern two storey extension with a contemporary façade providing a seamless integration of heritage and the 21st century.

The core office component will feature internal timber trusses, skylights and exposed services incorporating a large ground floor tenancy with frontage to Logan Road connected to a two-storey office building with internal mezzanine level running through to Cleveland Street. The design allows for seamless integration of multiple tenants or a whole building user with dual street access and frontage.

Mr Miller said there are available tenancies to be leased separately or as combined tenancies, comprising
Ground Floor - 1,066sqm, Level 1 – 297sqm, and Level 2 - 282 sqm.
The total net lettable area of 357 Logan Road entrances is 1645sqm and 42 Cleveland Street’s Entrance is 375sqm which is now leased.

Mr Miller believes "The trend of repurposing old buildings in Brisbane's CBD Fringe for new tenants is a testament to the city's commitment to preserving its heritage while adapting to the needs of modern businesses.

“It's exciting to see developers like Penney's breathing new life into these historic buildings, creating vibrant and dynamic workspaces for the next generation of entrepreneurs" he said,


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