ASX listed software company COSOL have now secured a new full floor premises in 490 Adelaide Street on a five (5) year lease. This transaction classes 490 Adelaide Street as a 100% leased asset. COSOL are a global leader in digital transformation and data exploitation with more than 20 years’ experience partnering with asset intensive organisations.

After an extended period of time in 201 Leichardt Street, Spring Hill, COSOL sought a fresh space, bringing more life and character to the workspace. They also endeavoured to avoid the heart of the CBD, with a preference for the outskirts of the Brisbane CBD or the Inner City/Fringe suburbs. Through constant challenging the brief, it became clear that a standard commercial offering wasn’t going to cut it. Looking forward to the next 5 years, COSOL required a space that they could envision themselves occupying and utilising to encourage staff into a collaborative and welcoming workspace.

“We connected with Angus in May ’21 to search for a new global HQ space in Brisbane. Our brief was clear – a workspace fit for purpose that created a collaborative, relaxed, multi-zone floorplan and had a naturally sunlit, voluminous space. Finding a location that reflected our company culture and was flexible enough as we continue to grow our team globally. The accessibility of the building, local amenities as well as the character features of the space itself, were large drivers for COSOL. We’re thrilled to be moving in and calling it our new global headquarters at 490 Adelaide Street “ – Ellie Terry, Chief People Officer

The space in question (pictured) is a high quality existing fit out spanning across an entire floor. This unique space bolsters polished timber floors, exposed brick walls and an industrial style ceiling. COSOL saw the potential in this opportunity and with some fine tuning on the fit out, were able to make it fit perfectly to their needs.

The Caden Research Team found that 64% of deals transacted to date this calendar year were in existing/previously occupied fit outs.  Given the rise in cost of construction, we are seeing tenants finding more value than ever in existing suites. Where possible, tenants are salvaging existing fit out and working within those bounds. This is proving advantageous for many as the cost of brand new fit outs are growing increasingly unfeasible.

For more information on current availabilities, or information on the broader market, please don’t hesitate to contact Angus Smith on 0402 954 264 or at angus.smith@caden.com.au.