QUEEN Street property owner Barry Silbert has developed an innovative proposal for two turn-of-the-century buildings on Queen Street at the west end of the city.
The sale of the Hassells building, on the corner of Queen Street and Wellington Street, and redevelopment plans including a back packers’ hostel will inject new life into this sleepy corner of the city.
Mr Silbert said he was looking at a number of development options to open up access to adjoining properties, 20 and 26 Queen Street.
The circa-1900 character buildings are accessible only by steep stairs but the development is designed to overcome this obstacle through the installation of an elevator and an exposed link between the two buildings.
The buildings feature classic heritage elements including high, pressed-tin ceilings and parquetry floors.
“I am looking at doing a development so that access to the building will include a glass structure between the two buildings and we’ll have lifts serving both buildings,” Mr Silbert said. “I want to take out the internal staircases and make it a good serviceable area.”
It’s understood the two properties on Queen Street have been valued at around $2 million and Mr Silbert claims any development will need to attract professional tenants to the area.
“The buildings will provide total net lettable area of 1,800 square metres, of which areas up to between 1,200 and 1,500 square metres will be available for lease,” DTZ managing director Brad Carey said.
The development plans include dropping the windows down to the floor level on each story to allow more light into each floor, while retaining the important heritage aspects of the building.
“The type of person looking to get into here would need to be a bit more sophisticated,” Mr Silbert said.
While Mr Silbert is still busy looking at all the figures, the westward push of the CBD could deliver increased demand for boutique style offices such as the Queen Street development.
