123 Albert Street

Refined Excellence Within Budget: Bespoke Design Meets Market Reality

Two Speculative Suites (level 7 & Level 9) | Design & Build | 3,024sqm total

PROJECT OVERVIEW

When Design Meets Commercial Reality
In today’s investor market, increased scrutiny on capital spend demands clear return on investment aligned with asset value. Initial proposals for this project exceeded capex parameters, challenging project viability until Dexus approached PMG for a solution that maintained design integrity whilst aligning commercially.

Our integrated approach combines design with live cost insight, re-establishing feasibility without lengthy value management or compromise. The result: two high-end speculative suites that stand out in Brisbane’s competitive leasing market whilst adhering to strict budget parameters.

The challenge was clear: create bespoke, timeless interiors that appeal to a broad tenant profile while maximising functional flexibility and achieving optimal 1:10 workspace density, all within commercial constraints that others couldn’t meet.

DESIGN IMPACT WITHOUT COMPROMISE

Bespoke Elements That Define the Experience
Strategic design interventions create strong visual impact whilst respecting budget constraints:

• Level 7 features a bespoke tiled portal and custom feature screens that create a compelling sense of arrival, drawing visual connection to Perry House
• Custom coffered ceilings and warm brick floor tiles add architectural character to front-of-house and breakout areas
• Level 9 design takes contextual cues from the main lobby and end-of-trip facilities, creating a cohesive building language that feels integrated rather than imposed
• Despite multiple rounds of value management, key bespoke elements were retained to elevate the overall look and feel

The approach demonstrates how targeted custom features can transform speculative spaces without budget blowouts.

COST-CONSCIOUS CREATIVITY

Smart Planning, Sustainable Solutions
Thoughtful design strategy maximises impact whilst controlling costs:

• • Strategic spatial planning around existing chilled beam services reduced rework requirements and kept the design within budget parameters
  • Reuse of existing built form and joinery delivered both sustainable and cost-effective outcomes
  • Bespoke furniture and joinery solutions were material-efficient, with luxury-look finishes carefully selected to meet cost constraints
  • Value engineering focused on retaining design intent whilst optimising construction efficiency

FLEXIBILITY AND LEASING APPEAL
Optimised for Occupancy

Floor plans were developed with leasing success as the primary driver:

• Layouts maximise openness and remove visual barriers whilst supporting efficient 1:10 workspace density
• Reduced enclosed built forms in front-of-house zones unlock views and natural light
• Timeless design language ensures broad tenant appeal and supports long-term leasing performance
• Flexible configurations allow adaptation to diverse tenant requirements without structural modification

THE RESULT

Exceeding Expectations, Driving Interest
The project delivery demonstrates how strategic design investment can elevate speculative products:

• Both suites delivered on time and within budget parameters
• Design outcome exceeded client expectations for a speculative product
• Strong leasing interest generated through the combination of bespoke features and contextually relevant design
• The balance of timeless appeal with contemporary functionality positions both suites as premium offerings in the Brisbane market

This approach proves that high-end speculative suites can be delivered within budget constraints when design strategy aligns with market realities and construction efficiency.