Brisbane, 21 January 2014 – A global expansion for SilverRail Technologies has led the company to lease a whole office floor in Brisbane’s 40 Creek Street.
The rail-specialist technology company recently developed the first global transaction platform specialising in passenger rail.
The 650sqm Brisbane lease follows a substantial acquisition, which expanded SilverRail’s platform to incorporate over 60 staff with operations in the UK, the US and Australia.
CBRE’s State Director, Office Services, David Prosser negotiated the 40 Creek Street deal on behalf of a sub-lessee, with Chris Orr, Director of Colliers International acting on behalf of SilverRail as a Tenant Representative.
The sublease involves Level 5 of the refurbished, 12,000sqm building. SilverRail has committed to occupy the fitted space on a gross rental of circa $600 a square metre.
Mr Prosser said 40 Creek Street was one of the most popular buildings for prospective tenants in Brisbane’s financial precinct.
“The building is 100% leased and was fully refurbished to an A grade standard in 2009,” Mr Prosser said.
“It provides prospective tenants with great amenity including a 3,000sqm Fitness First gym onsite.”
Mr Prosser said the SilverRail deal coincided with increased leasing activity in the Brisbane CBD, which was expected to herald a positive start to 2014.
“While Brisbane’s commercial market endured a tough 2013, the last quarter has been extremely positive with a number of tenants making the decision to relocate to ensure they don’t ‘miss the market’,” Mr Prosser said.
“While this activity has generally been limited to smaller space occupiers at the current time, there are a number of larger occupiers looking to resolve their requirements in the short term and this could create some real momentum for the market moving into this year.”
Tenant Representative Chris Orr said; “From a tenant’s perspective the current Brisbane office market offers a lot of choice both directly from landlords keen to lease vacate floors and downsizing tenants looking to offset the cost of surplus space.”
“With Brisbane office vacancy rates at their highest rate in many years the next 12 months will provide the best opportunity for commercial tenants to reset their space costs for the next cycle,” Mr Orr said.
SilverRail works with rail carriers in nine different countries including the UK, Belgium, Germany, Spain, the Netherlands, Luxemburg, Sweden, the US, and Canada.
The company recently acquired Jeppesen’s Journey Planning business and Integrated Public Transport Information System (IPTIS) solution to create the first global rail search and transaction platform.
This platform allows travellers to plan and book complex rail trips, for example London to Madrid, in a single purchase. It also delivers the tools that rail carriers and travel retailers need to interact with their customers.
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