The Gold Coast’s longest-standing firm of legal eagles has landed a deal for a new eyrie with a sweeping view of the city’s famous skyline. Bell Legal Group is set to make the move to Zupp Property Group’s newest high-rise office asset at 140 Bundall Rd, Bundall.
It has taken a seven-year lease with a five-year option over the entire top floor of the six-level building, which fronts one of the Coast’s busiest commercial strips. The leasing rate has not been disclosed but the industry sources indicated the fitted-out office space would fetch a gross rent in the mid to high $300s/sq m.
Gold Coast-based Zupp Property Group – the development and investment company of Queensland’s former king of the car dealerships, John Zupp – acquired the building last year for $7.05 million.
It is midway through a refurbishment and Bell Legal Group is due to occupy its new premises encompassing the whole Level 5 from June 17.
The legal firm tendered out its 600sq m office requirement through Knight Frank Gold Coast’s joint managing director, Tania Moore, and attracted numerous proposals vying to accommodate it.
Bell Legal’s general manager, Nicole Anderson, said an intensive selection process was undertaken and 140 Bundall Rd was chosen as the firm’s preferred new home.
She said the building was just 200m from the firm’s previous office at 91 Upton St and provided staff with access to carparking, public transport, HOTA (Home of the Arts) and even their favourite cafes.
“Moving a busy processional firm is never an easy decision to make, “she said.
“Working with the team at Zupp Property Group we have been able to design a state-of-the-art working environment for our employees and partners as well as allowing us to continue to provide the best service to our clients … and the views are exceptional.”
Zupp chief executive officer Neil Ferguson said the company would provide Bell Legal Group and its other valued tenants with “the best office experience in Bundall’.
“We are not averse to spending significant sums of capital on refurbishing quality building,” he said.
“It makes good business sense. You cannot attract tenants of the calibre of Bell Legal without offering a best –in-class product.”
Mr Ferguson said 140 Bundall Rd was now 70 per cent leased – up from 48 per cent at acquisition. There also had been 100 per cent renewal of existing expiring tenants.
Author: PHIL BARTSCH
Publication: COURIER-MAIL_PRIME SITE
Date: 17 MAY 2019
