New premises for Sciacca

THE completion of commercial office building Icon Place next month is expected to help ease inner city office space shortages in Brisbane.

The 19-level building on 270 Adelaide Street has already sold two floors to Sciacca Lawyers and Consultants for $9 million, and one floor to development and project management company Ranbury for $3.5 million.

There are five floors in final negotiations, but so far Sciacca and Ranbury are the only confirmed buyers. Icon Place offers floors from 350 sq m to 380 sq m.

Ranbury managing director Scott Kennelly, says Icon Place is unique in offering an entire floor and has been created to support continued business growth.

“Given the choice between renting or leasing and owning our own space, the answer was always clear. Given tight and high rentals in Brisbane, the purchase of a floor in Icon Place makes extremely good business sense, for an owner occupier like us, or an investor. In a time of extremely tight supply and escalating rents as well as changing economic times, the opportunity for a business to purchase brand new A grade office space in the CBD is excellent – and good business,” he says.