July 23, 2024

The Queens County Citizen

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A $15 million bill for Investment Quebec's new offices in Montreal

A $15 million bill for Investment Quebec's new offices in Montreal

The government has paid nearly $15 million to develop new Investment Quebec offices in downtown Montreal, we've learned. News magazine.

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Of this amount, $11.2 million went to the “construction” of spaces in the building at 1001 Robert-Bourassa Boulevard, and $1.5 million to furniture.



Photo by Sylvain Larocque

IQ 10e and 11e Owned by Toronto firm Allied, the building's floors total 66,000 square feet. About 500 of IQ's 1,200 employees work there when they're not at home.

The state-owned company will move to its new address in 2022, leaving the World Trade Center (CMM) and the premises it occupies at 600 de la Gauchetière in the Anjou district.

savings

His annual rent at 1001 Robert-Bourassa is $2.53 million while his previous three leases cost him $4.75 million — a $2.2 million discount.

However, IQ must continue to pay more than $400,000 per year from 2020 to the Montreal International Organization in CCM for premises that are sublet and never occupied.

Fit-out costs for new IQ offices

Construction cost $11.2 million

Furniture $1.5 million

Technology and infrastructure $900,000

Other $900,000

A total of $14.5 million

Source: Investment Quebec

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