As 2024 comes to a close, the Zupp Property Group team took some time to reflect on a year filled with incredible milestones and achievements in the commercial property and real estate sectors. From successful acquisitions to long-term leasing agreements, this year showcased our commitment to delivering exceptional spaces for businesses while navigating a challenging market.
But before we take a closer look at the key moments that defined our 2024, we must also pay our respects to our founder, Mr John Zupp, who passed away in August this year, aged 93. He will be enormously missed by everyone who knew him, and we are proud to continue to drive the vision of his business with his tremendous legacy at the forefront of our minds.
Property Development and Leasing Successes
31 Zupp Drive: Strong Leasing Momentum Before Completion, Interciti, Ormeau, Gold Coast
June saw the practical completion of Interciti Plaza at 31 Zupp Drive, our latest mixed-use retail and commercial development. We’re proud to report that over 50% of the space was leased before completion—a testament to the appeal of the project and our team’s dedication. This milestone highlights our ability to deliver exceptional spaces that meet the needs of businesses in a competitive market.
Refurbishment and Leasing Success at 70 Bowen Street, Brisbane
This year, 70 Bowen Street, Spring Hill underwent a significant refurbishment, leading to its successful lease to Red Earth Engineering. This project demonstrates our commitment to enhancing our properties to meet the evolving needs of tenants and their businesses.
Long-Term Lease Secured at 167-171 Brisbane Street, Beaudesert
We signed a 7.5-year lease agreement with Beaudesert Auto Group, part of the well-known Westpoint Group. This long-term partnership underscores the value of our properties and the trust we build with tenants.
Progress at 7 Zupp Drive, Ormeau, Gold Coast
With board approval for early contract works and design, 7 Zupp Drive is set to become another landmark project in our portfolio, promising exciting developments in 2025.
Navigating Market Challenges with Leasing Success
Despite the challenging market conditions, we secured leases for 1,400m² of space at 349 Coronation Drive, Milton and are on track to lease an additional 500m² before Christmas. These results highlight our adaptability and determination to deliver exceptional results for tenants and stakeholders alike.
