This article is from the Australian Property Journal archive
AUSTRALIAN Radio Network is relocating its Brisbane offices to Shayher Group’s Kings Row Office Park in Milton, signing a 12-year deal across 1,158 sqm of A-grade space.
Colliers International Tenant Advisory represented ARN in their market search, while Colliers in conjunction with Cushman & Wakefield negotiated the deal on behalf of Shayher.
Kings Row comprises four A-grade office buildings, with amenities including a tennis court, swimming pool, BBQ, conference facilities, high quality end-of-trip facilities and secure basement parking. Taiwanese-backed Shayher Group acquired the complex for $98 million in 2016.
The office park has refurbished and fitted tenancies ranging from 200 sqm to 5,000 sqm that are marketed between $500 and $550 per sqm.
“ARN had outgrown their Stones Corner office and have chosen Kings Row as the new location due to the Brisbane City and River views, quality of office accommodation, accessibility to local amenity and public transport,” Simon Crouch, head of tenant advisory at Colliers said.
The lease includes rooftop signage, providing exposure to busy Coronation Drive.
Bo Vievers of Colliers said opportunities of 1,000 sqm or greater of A-grade office space in the metro market are limited, and Kings Row offers has 2,200sqm floorplates still available.
Office vacancies in Milton were at 21.5% at the start of this year, according to the Property Council of Australia.
