Boutique office space in demand at 126 Margaret Street

Brisbane, 20 June 2014 – A major upgrade program has paid dividends for Investec at its 126 Margaret Street office building in Brisbane.

Leasing agents CBRE have secured three tenants for the boutique building - Career Trackers, Bridgeport Finance and the Cross Fit 4000- and are fielding strong enquiries on the remaining space following the departure of the Queensland University of Technology (QUT).

Michael Irvine and Chris Butters are steering the lease campaign for CBRE. Mr Irvine said the building was regarded as one of the city’s premier boutique leasing opportunities – particularly in light of building works which include the addition of a ground floor cafe with outdoor seating space and refurbishment of the ground floor entrance and lobby as well as major services upgrades.

The largest of the new Margaret Street leases involves Cross Fit 4000, which has committed to a four-year lease over 262 square metres of space. Other new tenants include Career Trackers, who have moved from a serviced office into 114sqm of space in 126 Margaret Street and Bridgeport Finance, who has moved from the city fringe into a 195sqm office. Rents achieved in the building range from 525/sqm to 550/sqm.

“The building was previously 100% occupied by QUT and, since their departure, Investec has invested considerable capital in refurbishing and upgrading the entire building, including speculatively fitting out a number of office floors,” Mr Irvine said.

These works include a fully refurbished ground floor lobby, 3 new lift carts and upgrades of the buildings mechanical services.

“The Margaret Street/Albert Street precinct of the CBD is rapidly evolving, with a number of large completed and proposed developments. The level of tenant interest in 126 Margaret Street highlights the demand, particularly among smaller tenants, for high quality, fitted out space in this emerging location.”

The 14-storey Margaret Street building comprises 5,700sqm of office space with boutique floor plates ranging in size from circa 350sqm to 550sqm.

The building is situated a short walk from Queen Street Mall and the city’s Eagle Street financial hub.