This article is from the Australian Property Journal archive
VACUUM and cleaning products retailer Godfreys has found a new home in Toombul within Brisbane’s inner north in deal negotiated by Colliers International.
The company has signed a new lease for 429 sqm of showroom space at shop 2/5-9 Parkland St in a deal negotiated by Kyle Rae of Colliers International. The leasing rate has not been disclosed, but industry sources estimate the property would fetch in the vicinity of $250 to $350 per sqm.
Rae said Godfreys was now situated in a large retail showroom, which had huge exposure to Sandgate Rd, 10km from the Brisbane CBD.
“This location is ideal for Godfreys – rather than being situated within a shopping centre, where it has little signage outside, it now has prime exposure to a main road on which around 50,000 vehicles travel each day.
“This location provides maximum exposure to potential customers, and convenient front of store car parking. Shopping today is all about convenience and Godfrey’s snapped up this ideal opportunity when we presented it to them,” he added.
“Godfreys were lucky to secure this spot,” he said. “Other tenants looking for retail showrooms need to head further north towards Virginia, which is another 3 or 4 km from the city,” he continued.
Now that the property on Parkland Street is fully leased, it will be marketed for sale by Stephen Kidd and Trevor Weinert of Colliers International on behalf of receivers BDO via an expressions of interest campaign kicking off in a few weeks.
The two other tenants in the group of three shops are Bob Jane T-Mart and Cash Converters, both of which have been situated there for more than a decade.
Property Review
