Marquette Properties has leased 4,801sqm of office space in Brisbane’s Gold Tower following a major tenancy refurbishment program. 10 Eagle Street space leased in ten separate deals, negotiated through CBRE’s leasing team led by Andy McPhail in conjunction with Marquette Properties.
Marquette Properties has leased 4,801sqm of office space in Brisbane’s Gold Tower following a major tenancy refurbishment program.
A mix of new and existing occupiers have snapped up the 10 Eagle Street space in ten separate deals, negotiated through CBRE’s leasing team led by Andy McPhail in conjunction with Marquette Properties.
The leases involve a mix of IT, consulting, resources and professional services firms – all existing CBD tenants seeking to expand their footprints.
Some of the commitments include fund manager Trilogy Funds (954sqm), professional services firm Cognizant (603sqm), consulting firm Xenith (544sqm), commercial lawyers JHK Legal (522sqm) and energy industry leader New Wilkie Energy (401sqm) with smaller suites leased by financial services company Ebury Australia (150sqm), manufacturing business Graphinex (141sqm) and mining subsidiary Sungela (171sqm).
The deals reflect rental growth of 7% moving into 2023 – up from an average of $800/sqm to $850/sqm – and leave just two half floors and some smaller sub 200sqm tenancies available for lease.
Marquette Portfolio Leasing Manager Matthew Appleby noted, “We are seeing strong rental growth across all Marquette assets off the back of our capital investment into building new fit outs as well as retrofitting existing fit outs. This not only provides a strong effective rental position for tenants but is importantly more sustainable.”
Mr Appleby added, “Tenants continue to be happy to pay a premium for high quality fit outs and we will continue to work with agents and advisors in the market to provide fit out solutions to suit.”
CBRE’s Mr McPhail said the availability of turn-key fit outs was particularly appealing given current market conditions.
“Despite perceived disruption from surrounding development work, tenant interest in the Gold Tower has remained strong due to the large tenancy refurbishment program, which has resulted in a number of turn-key opportunities,”
“The shape of the building’s floor plate coupled with its island site creates an ideal scenario for split floor tenancies, also gives each occupier adequate lift frontage as well as strong view corridors and vistas.”