Adelaide, 7 October 2014 – Grain trading giant Cargill has relocated to a new city fringe office building following last year’s purchase of the Joe White Malting operation.
CBRE’s Andrew Bahr negotiated the 539sqm lease, which involves a two-storey building at 65 Magill Road, Stepney.
The sought after eastern suburbs location was a key attraction for Cargill as was the ability to lease a new, stand-alone building, Mr Bahr said.
“The high quality construction and excellent natural light were two of the draw cards for Cargill as was the building’s high profile location just 3km from the CBD location,” Mr Bahr added.
Cargill has taken a seven year lease with a five year option over the building to help accommodate the continued growth in its malt business. Cargill last year acquired Joe White Malting, the largest malt producer in Australia, which supplies brewers in Australia, Singapore, Japan, Thailand, Vietnam, Korea, Indonesia, Cambodia, Papua New Guinea, the Philippines and Malaysia.
The company’s new Stepney premises are with walking distance of Norwood. They include ample on-site parking at the rear of the building.
The asking rental for the space was $320/sqm plus GST.
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