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Deacon & Milani find new home in 324 Queen Street

30 April 2020

Internal changes within the business have afforded Deacon & Milani the opportunity to explore options outside of their current space, which they have become so familiar with for the last 3 years. Senior Partner Gino Milani drove their requirement from the outset.

Assisting in their search, Chris Jenkins was able to draw a brief and understand where Gino’s expectations were relevant to the fitout. The Business’s requirements going forward included 3 offices, 4 workstations, a reception and a board room. Location was equally as important and it was essential the business remain centrally located to clients and services.

Understanding their core needs, L12, 324 Queen Street (123sqm) and L13, 340 Adelaide Street (131sqm) were suggested as potential options. Upon review of the floorplans, building services and financials, Gino came to the conclusion that while 340 Adelaide Street presented a terrific value proposition, his interests were better suited to 324 Queen Street. A regular visitor to Storia Café and admirer of the work completed during the ground floor refurbishment, his initial impressions of the asset were positive and this played an important role in his final decision.

The level 12 suite sits across 123sqm and was previously occupied by an accounting firm. The tenancy comprised of an existing fit-out, with 6 workstations, 2 offices, a boardroom, reception/waiting area and a utilities/storage room. Alongside fit out company Archway Commercial Interiors, Gino and Chris were able to re-hash the floorplan and come to an agreement on upgrades that would fulfil the Business’s needs. Subsequently, Chris was able to tailor an offer with Abacus and Investec providing Gino with an incentive structure that would satisfy both the necessary works and a rental abatement.

Upon review of the details, Deacon & Milani were satisfied their needs had been met and were comfortable signing on for a mid-term lease in their new premises.

324 Queen Street is a high B-grade asset located on the corner intersection of Queen and Creek Street. Jointly owned by Abacus Property Group and Investec, there has been significant capital expenditure invested into the asset in recent years, with a rejuvenated End of Trip Facility and newly renovated Ground Floor foyer. These works were courtesy of Archway, who are existing tenants within the building. The upgrades have seen the asset re-present itself to the market in a new light, catering to the needs of existing clients and the interests of the surrounding community, all the while maintaining its position as one of the leading commercial B-Grade assets in the CBD.

Chris Jenkins negotiated this lease – for more information, or if you’ve got any questions regarding your leasing requirements, please contact Chris on 0413 506 179 or chris.jenkins@caden.com.au.

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