Adelaide, 11 May 2015 – Professional services firm Grant Thornton will anchor the first new CBD office building to be developed in Adelaide for some time after striking a long term lease agreement.
CBRE Director, Office Services, Andrew Bahr negotiated the 10-year lease agreement, which involves half the office space in Emmett Group’s planned development in the city’s East End.
Grant Thornton will relocate from its existing city fringe offices to the 170 Frome Street complex, which is due for practical completion by December 2016.
Grant Thornton’s Adelaide Managing Partner Dean Marsh said, “The partners of Grant Thornton are very excited about the move to our new location at Frome + Flinders in late 2016. As our business continues to grow, it’s a great opportunity for Grant Thornton to partner with both Emmett Group and CBRE in the development of this new building for Adelaide.”
Mr Marsh added; “We are very pleased to be a part of the continued evolution of the Adelaide CBD, providing our people with state-of-the-art facilities and a collaborative workspace as we focus on the growth and financial success of our clients. We are looking forward to continuing to service the needs of our valued clients and business partners in our brand new CBD located premises.”
Frome + Flinders is situated at the intersection of Frome Street and Flinders Street, within close proximity of the lively shopping, café and restaurant precincts of Rundle Street and Hutt Street.
The building is being developed by privately owned property development and construction company Emmett Property, a firm which has developed an extensive portfolio of commercial developments throughout the Adelaide CBD, fringe and suburbs.
Emmett Group Director Nick Emmett said; “We are delighted to welcome Grant Thornton to Frome + Flinders. We set out to attract city fringe occupiers and it is satisfying when your vision becomes reality. The convenient location and quality of the offering helped secure such a strong tenant.”
The four-storey Frome Street building has a total lettable area of circa 3,900sqm and comprises two floors of office space, ground floor retail and first floor parking for 44 cars.
It will include the latest in design and environmental features in addition to large open floors, excellent natural light and onsite parking.
CBRE’s Mr Bahr said there was already strong interest in the remaining space with areas from 460sqm to 1,473sqm still available.
He highlighted that one of the attractions for tenants was the building’s location on Frome Street - a key north-south pathway, providing fantastic staff amenity and access to public transport.
“The Grant Thornton commitment is an extremely positive sign for the Adelaide market, which highlights the current tenant focus on securing the highest quality of office accommodation,” Mr Bahr said.
“We’re finding that flight to quality is more prevalent than ever before, with office space seen as a key consideration in the attraction and retention of staff.”
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