Brisbane, 27 September 2015 – A prominent Gold Coast commercial property is poised for a significant tenant influx, following an extensive refurbishment program which re-established the site’s high-caliber and cost effective leasing opportunities.
The six level office building, located at 130 Bundall Road, Bundall, has recently undergone an extensive internal upgrade which included bathroom refurbishment, stylish lobby redesign and installation of new ceiling tiles, flooring and lighting throughout vacant tenancies. The site further benefits from prime location in the heart of Bundall’s commercial hub, surrounded by major organisations including the Gold Coast City Council.
The building currently has up to 1,850sqm vacant over three full floors. The ground floor offers split tenancies from 130sqm to 308sqm and levels two and the top floor-level five offer full floors that can be split to a tenant’s size requirements. The opportunity represents fantastic value with rental rates ranging from $265-$285 per square metre and the opportunity for naming rights with invaluable exposure to one of the Gold Coast’s busiest roads.
CBRE’s Cody Buck and Nick Selbie are negotiating the lease agreements on behalf of the landlord.
Mr Buck said the site’s high profile location, significant exposure to Bundall Road and recent extensive upgrades will attract a range of commercial tenants to the property.
“Over the past two decades, 130 Bundall Road has established itself as one of the Gold Coast’s leading commercial buildings, underpinned by high-quality amenities and enviable location, and the recent refurbishments will further enhance the building’s overall offering in attracting and retaining solid tenants.”
Mr Selbie added a similar approach was recently taken at 140 Bundall Road, with positive results.
“We had tremendous success with 140 Bundall Road where a similar refurbishment program was implemented. In the space of twelve months we were able to lease 1,031sqm and now have an office building which is 84% occupied. In the current market, prospective tenants look favorably on buildings where the landlord is prepared to invest resources into the property to provide a high quality offering.”
“This approach at 130 Bundall Road has already started delivering results with the whole of Level 1(600sqm) being leased as a result of the refurbishment and supported by quality sitting tenants on levels 3 and 4. We are also receiving strong enquiry as the market realizes this fantastic opportunity,” Mr Selbie said.
For Australian/international news or global stories, follow us on Twitter.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.