Brisbane’s love affair with Vietnamese cuisine has spurred two new lease deals in the inner city suburbs of Fortitude Valley and Newstead.
CBRE’s Nikki Zammit negotiated both deals, involving Viet Mart – Fresh Vietnamese Foods taking space in 15 Green Square Close in Fortitude Valley and My Viet Kitchen snaring a ground floor eatery in the Energex House complex in Newstead.
“Customers continue to become more health conscious with their everyday meal choices and therefore are being drawn to Vietnamese cuisine for a fresh, convenient and lighter option,” Ms Zammit said.
Viet Mart is headed by Duy Joseph Nguyen and his wife who have operated numerous successful Vietnamese eateries in Brisbane, among them iThanh Quyen and the Quyen Vietnamese & Chinese restaurant.
The latest venture entails 85sqm of space in 15 Green Square Close, which has been leased on a seven-year term and is due to open this Thursday 20 October.
“The tenant recognised the opportunity to service the large commercial tenancy base in this precinct and has created a menu to suit,” Ms Zammit said.
“In this building alone, there is 60,000sqm of fully leased office space occupied by major tenants such as Brisbane City Council, Cardno, Optus and Collection House.”
The second deal involves My Viet Kitchen, which will occupy 84sqm of space in the Energex building at 26 Reddacliff Street.
The restaurant venture is headed by Hoa Nguyen, who has owned and operated the award winning Carraway Pier fish and chip shop in Kelvin Grove for the past 10 years.
My Viet Kitchen will open in late November in a partnership with Luy Nguyen and Tra Thanh Thi Le.
“The main goal is to cater for the busy office workers and surrounding residents in the Newstead precinct, providing fast, healthy and affordable food options,” Mr Nguyen said.
The tenancy benefits from 2,500 office workers directly above as well as neighbouring food and beverage operators including New Sushi, Kebab O’Clock and Nandos.
The Energex building is also home to Ferrari’s landmark showroom.
“The tenancy is located at the centre of the major urban renewal precinct in Newstead, sitting directly opposite the new residential apartments ‘Haven’, due for completion in early 2017, and across Skyring Terrace from The Gasworks,” Ms Zammit said.
“There are 1,120 residential apartments in Newstead currently, with an additional 3,000 units to be delivered in the next two years – providing an attractive catchment for F&B operators.”
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 (based on 2015 revenue). The company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
