Gold Coast, 10 April 2014 - Surfers Paradise’s 50 Cavill Avenue has gained significant momentum, securing five new leases totalling over 1,500sqm in the first quarter of 2014.
The deals, which include whole floor tenants, make the building the standout performer in the Gold Coast’s A grade office market.
CBRE’s Managing Director, Tania Moore, who is in charge of leasing 50 Cavill Avenue, said the level of activity in the building had been underpinned by significant uplift in interest in the Gold Coast, in particular from the travel and leisure, property and financial services sectors.
As the largest commercial tower on the Gold Coast with unrivalled view corridors, the building has attracted interest from local businesses as well as interstate and internationally based groups.
Ms Moore cited the proximity of 50 Cavill Avenue to the new Gold Coast light rail network as a significant advantage, particularly in regard to staff retention, giving staff the option to utilise various modes of public transport or drive to work and either park on-site in the five level secured basement carpark or at the 1,600 bay carpark directly opposite.
Good connectivity to retail centres and five-star accommodation such as Soul and Hilton also added to the overall attraction of 50 Cavill Avenue as a business address, Ms Moore said.
New whole floor tenants include Global Work and Travel Co and Liguancheng Global Investment Holdings Group Pty Ltd who have secured Levels 16 and 21 respectively. Both businesses are new to Surfers Paradise, with Liguancheng Global Investment Holdings Group Pty Ltd being a new Chinese investment business establishing in Australia.
Mr Jurgen Himmelmann, the Director and Co-Founder of The Global Work & Travel Co, advised that company’s decision to relocate its business to 50 Cavill Avenue was driven by the ability to accommodate its growing Australian team of 50 employees, the quality of the building and its views over the city. Mr. Himmelmann’s company was founded on the Gold Coast in 2008 and now spans North America & Europe.
Liguancheng Global Investment Holdings Group Pty Ltd has secured the top floor of 50 Cavill Avenue. General Manager Jarod Li said making the move to locate the business on the Gold Coast and at 50 Cavill Avenue was an easy decision, with the building providing a central business orientated location and the Gold Coast providing the lifestyle sought by the company’s executives and staff.
“The new offices will function as the global headquarters for our global investment operations which include Funds Management, Property Development, Mining and other industrial investments,” Mr Li said.
“We are looking forward to being able to move in as soon as the fitout is completed in May, so we may get down to business.”
In addition to the two whole floor tenants, Ms Moore said it had been very encouraging to see existing Surfers Paradise businesses Aqua Gold and Wide Estate Real Estate choose to reposition their businesses in 50 Cavill Avenue.
Wide Estate Real Estate is returning to the building after a four year absence. Managing Director Saku Sunakawa said his Japanese client base had a strong connection with the building, with Wide having been a tenant for more than 12 years from the mid 1990’s.
Aqua Gold Co Accountants has been an established Surfers Paradise business for five years. Directors Adrian Knight and Jo-Ellen Hutchison said they were excited to now be located in what they regarded as the premier office building on the Gold Coast.
“The combination of the very central location in the heart of Surfers Paradise with ease of commuting, two hours free client parking in the basement, incredible views of the Gold Coast, beautiful surroundings and an extremely well kept building, all made 50 Cavill Avenue a standout,” Mr Knight said.
Fire Cover Australia, who specialise in the maintenance and servicing of fire equipment in commercial and industrial properties, have also leased space in the building, after relocating from Tweed Heads in order to better service a wide ranging client base.
Ms Moore said other lease negotiations were in progress and further announcements were anticipated over the coming months.
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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 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 350 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 atwww.cbre.com.au.