Town Planning group, Mewing Planning Consultants have secured a sub 150m2 space on a 3- year lease at 340 Adelaide Street via the negotiations of Caden’s Patrick Lindores.
Like many businesses that are unable to grow within their current buildings, Mewing Planning Consultants required a quick solution to relocate to a larger office in order to facilitate their growth. Previously located in strata titled 371 Queen Street, searching in free hold buildings opened enabled more, flexibility and options for their search.
Since 340 Adelaide Street’s previous owners Mirvac have delivered extensive capital refurbishments, current owners Forza Capital have continued to add value to attract tenants into what is a highly desirable CBD option. A buzzing ground floor café and modern End of Trip facility as well as its proximity to both Central Station and Eagle Street are some of the reasons the building holds such little vacancy.
Amongst other reasons, many tenants elect to leave strata buildings for free hold options as capital improvements such as services, lifts, and internal/external presentation are not as regularly updated in comparison to free hold options.
As the financial year comes to a close, demand for sub 150m2 tenancies continues to dominate inquiry and subsequent deals within Brisbane’s CBD. With almost 80% of recent deals in this size range taking on existing fit outs, tenants can minimise costs often enabling them to take space in superior buildings without paying the related increase in price.
For more information on the deal or the market in general contact Patrick Lindores on 0438 147 287 or at patrick.lindores@caden.com.au
