Brisbane, 25 August, 2014 – Engineering firm WSP Group has leased a 1,458sqm office property in Milton to accommodate its expanding operations.
WSP Group already occupied 1,099sqm on the ground floor of the two-storey office building at 1 Gardener Close, before leasing the additional 359sqm on the second floor.
CBRE’s Mel Pikos negotiated the deal on behalf of a private lessor. WSP Group committed to a seven-year term on the renegotiated lease for an initial rental of $425 per square metre gross per annum, plus 28 car park spaces at $225 per bay per month.
WSP Group occupies about 60% of the building, with the rest remaining vacant.
“This is the first deal above 1,000sqm in Milton or Toowong so far this year, and only one of a handful of this size,” Mr Pikos said.
Milton is located approximately 2km west of the Brisbane CBD.
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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.