March 21, 2020
The 432sqm space came back to market in the middle of 2019 after Property valuations firm Acumentis (previously LMW) vacated the office. Acumentis had merged with another business located in the CBD’s fringe suburbs and decided it was best to collectively operate out of the other South Brisbane office.
This presented a great opportunity within the market for an incoming tenant to take on the office space that remained, on outstanding terms. Subleases tend to be an excellent option for businesses who may be after an attractive deal and are considerate of potential future staff growth given the often flexible lease terms. Although not traditional, occupying a sublease can allow businesses to secure a good quality existing office without compromising their potential lease terms compared to taking on a direct lease.
The Solution Collective came to market at the turn of the new year, inspecting options around 200 – 250sqm. Bursting at the seams of their existing premises, they were in a mid-growth phase and motivated to make a move prior to their lease expiry. They sought office space that would allow for their further internal growth.
Fully fitted, functional, ready for occupation, and offered on favourable terms, the sublease at 120 Edward Street was the perfect option for The Solution Collective. Upon inspecting the 432sqm space at 120 Edward St, compared with other options in the market the proposition of being in a space that could cater to the business’s long term growth vision, coupled with aggressive financials, made the option too good to pass.