A surge in tenant demand is driving increased leasing activity within Brisbane Technology Park at Eight Mile Plains. Following a $1.5 million refurbishment, three tenants have committed to a total of 1450sq m in Zupp Property Group’s office building at 26 Brandl St.
Colliers International office leasing agents Bo Veivers and Patryk Koch introduced two of the tenants to the 2400sq m building. Mr Veivers negotiated a three-year lease for CMBM Facility Services to occupy 856sq m, and Mr Koch introduced RE Group, which has committed to a five-year lease for 282sq m. LJ Hooker’s Manoli Nicholas brokered the third deal with Medacta Australia securing 330 sq m on a five-year lease term. It is understood gross face rents in the building were close to $400/sq m. “It is great to see increased activity in BTP,” Mr Koch said. This is the most leasing activity any building has experienced in the BTP precinct in recent times.”
Zupp Property Group’s Craig Smith said the high calibre of businesses now occupying the building was impressive. “We’ve enjoyed working with each of them to achieve a tailored solution their property leasing requirements, “he said. Mr Smith said after being faced with an almost empty building in 2018, Zupp implemented its “best-in-class” refurbishment program, including a new building façade treatment, modernised foyers, a new lift and upgraded building services.
Mr Koch said RE Group had moved into their new tenancy and made it their Queensland head office. “They have chosen this property because it fitted their high quality corporate image, while providing a great value for money proposition, “he said. “BTP is adjacent to the Gateway Arterial and Pacific Motorway, which provides convenient access to all major highways, and this particular building has a corner position, so the ease of access really appealed to RE Group.
The asset at 26 Brandl St is one of three properties occupied by four office buildings within BTP purchased by Zupp Property Group in 2016 for $24.5 million.
Author: PHIL BARTSCH
Publication: Courier Mail_Prime Site_p62
Date: 31 May 2019
