This article is from the Australian Property Journal archive
SYDNEY-based serviced office provider, Clarence Professional Offices, has entered the Brisbane market, leasing space at 239 George St owned by Investa Property Group.
CPO has entered into a partnership deal with Milton Business Centre to lease a whole floor lease of 826 sqm on level 10 of an office building at 239 George Street for 10 years. The building is located on the corner of George and Adelaide streets at the top of the Queen Street Mall and has a total net lettable area of 25,702 sqm over 34 levels.
Colliers International’s Amanda Foggo negotiated the deal, which will see CPO pay $570 per sqm. Colliers and Jones Lang LaSalle are joint agents of the property.
Foggo said CPO wanted their first Brisbane office to be situated in the city’s CBD, and particularly wanted to be either on or in the vicinity of George St because it is in the heart of the legal and government precinct in Brisbane’s North Quarter.
“It makes sense for CPO to be situated in the CBD as this is where the biggest concentration of businesses operate from, and therefore where its greatest pool of potential clients are,” she said. “Furthermore, many of CPO’s clients are in the resources and legal industries, so being situated in the appropriate precinct in Brisbane’s CBD was crucial, and 239 George St, owned by Investa, fit the bill.”
Foggo said CPO was the first of this kind of occupier for 239 George St. The company will complete an extensive fitout, to create 40 serviced offices.
Property Review
