With offices in both Brisbane and the Gold Coast and having previously occupied an office on George Street before shifting to the fringe suburb of Milton, QLD Interactive came to market seeking to again obtain both the staff and business benefits a CBD office brings and through current market conditions were able to secure a far more premium tenancy for only a marginal price increase.
Qld Interactive were opportunistically looking to secure a mid-term lease and locking in preferential terms whilst available. After being shown a wide variety of available options, the group understood that their budget was best deployed into an existing fit out that generally suited their requirements, enabling them to apply the entirety of the available incentive directly towards abatement. Applying the 80% tenancy satisfaction rule to this strategy, the group saw more value in keeping the rent low in place for finding the perfect space that ticked every single box.
Landing on 355 Queen Street the group saw value in its unique offering of smaller, single tenant floorplates, allowing complete independence from other tenants noting:
“Through our business experiencing a substantial growth we found ourselves quickly running out of space at our current location. With our existing Milton office not able to offer internal expansion options, we knew the next logical step would be to grow into a larger space, ideally closer to Brisbane’s CBD. After Patrick helped brief us on the CBD market, we were drawn to 355 Queen Street for its full floor amenity and overall location close to a number of restaurant/cafes and public transport options. The full floor allows for full space autonomy and privacy which has been a great asset to continue growing our Brisbane office.”
Spread over 7 levels which includes a basement and 4-bay internal car park, 355 Queen Street uniquely and exclusively offers floorplates of only 157sqm unmatched by any competing buildings. With no split floor tenancies, the full floor offerings allow smaller tenants the opportunity to operate in absolute autonomy from others whilst also providing increased security and the ability to organise/decorate lift lobbies to their preference. With two lifts serving the whole building and opening directly onto each tenancy, tenants benefit from highly desired ultimate lift frontage, which is usually reserved for only larger occupiers in larger buildings.
As demand remains strong for sub-200sqm tenancies, many businesses are looking to take advantage of larger incentives enabling them to move into CBD offices which may have previously been outpriced. With the Brisbane’s Golden Triangle remaining the City’s business hub, like QLD Interactive many businesses choose its location for not only its close proximity to other business partners, but also its abundance of bars, restaurants and cafes, making it the social hub of the CBD too.
For more information on this deal, please contact Patrick Lindores on 0438 147 287 or patrick.lindores@caden.com.au
