NEW BUSINESSES HEAD TO NEWSTEAD

Written on the 12 June 2015

NEW BUSINESSES HEAD TO NEWSTEAD

A SLEW of new businesses are heading to Newstead, after CBRE negotiated a number of lease agreements in The Portal building.

The office tower was the first building to be completed at Newstead Riverpark, now known as the Gasworks Commercial Precinct.

The new tenants include Fujitsu Australia, Brookfield Multiplex, Wolter Consulting, Migas, Louis Dreyfus Commodities and Thermomix.

CBRE Office Services agents Mel Pikos and Michael Skarparis negotiated the deals on behalf of lessor Primewest.

Pikos says the prime location in the heart of Newstead's revitalised office precinct was a major drawcard.

"We are currently seeing higher levels of leasing activity in Newstead than anywhere else in the near city area, accounting for over 15,000sqm of net absorption in the last six months," Pikos says.

"Many tenants are now attracted to the amenities on offer including over 5.5 hectares of public space, as well as the quality of surrounding development.

"Other likeminded occupiers are eager to capitalise on the success of the precinct by moving to the area and specifically 1 Breakfast Creek Road."

Pikos says the businesses are following in the footsteps of major players including Bank of Queensland, Collection House and Tatts Group.

The sites range from 280sqm to 1,351sqm on one-and-a-half year to seven year terms. The initial rentals range from $400 to $500 sqm gross per annum.

Skarparis says retail amenities in the popular suburb have also appealed to tenants.

"Tenant activity has also significantly picked up as a result of the completion of the adjoining Gasworks Plaza Shopping Centre, which is anchored by Woolworths and Standard Market Co, providing excellent retail amenities in the area," he says.


Latest News

THE STAR'S STUNNING ANSWER TO CROWN'S BARANGAROO

THE Star Entertainment Group (ASX:SGR), not to be outdone by James Packer's Barangaroo development across the ...

BRISBANE COAL TERMINAL REOPENS AFTER SHIPLOADER REPAIR

COAL loading has recommenced at New Hope's (ASX: NHC) Brisbane terminal today after repairs to its ship loader, w...

SUPERYACHTS OFFER UNTAPPED POTENTIAL AT COMMONWEALTH GAMES

SUPERYACHT Australia has devised a strategy to attract more superyachts to Queensland and capitalise on revenue op...

GDP FIGURES A 'WAKEUP CALL' FOR PARLIAMENT

THE GDP figures are an end-of-year wakeup call for Parliament about what lies ahead for the country, according to ...

Related News

HOW MCDONALD'S AUSTRALIA REDISCOVERED ITS INNOVATIVE SPIRIT

MCDONALD'S is such a ubiquitous part of the Australian landscape today that it is easy to forget how it change...

JB HI-FI IS THE GOOD GUY IN $870 MILLION ACQUISITION

ELECTRONICS giant JB Hi-Fi has formally completed its $870 million acquisition of home appliance chain The Good Gu...

ACCC ACTS AGAINST MERITON'S RIGGED REVIEWS

MERITON Property Services is under fire from Australia's main consumer watchdog, after it allegedly engaged in mi...

ACCC FIRES WARNING SHOT TO IVF PROVIDERS

IVF clinics have been put on notice by consumer watchdog, the Australian Competition and Consumer Commission (ACCC...

Contact us

Email News Update Sign Up Contact Details

Subscribe to our mailing list

* indicates required
Email Format

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter