Did you know that Brisbane is the third most expensive city in Australia and Asia for short time parking?
Did you also know that Brisbane is 10th most expensive city in the world to rent retail space?
It should come as no surprise than that more and more companies are fleeing the city and heading for the suburbs. More than 19,000 square metres of office space in the fringe area was successfully leased last financial year, well above the historical average of 11,000 square metres. Many of the big players are making the move – should the rest of us follow suit?
Bank of Queensland have already moved out of the city to the FKP Gasworks project- a $175 million A-Grade 12-storey office building in Newstead and will be the anchor tenant occupying over 54%.
FKP’s Gasworks project is set over three parcels of riverside land at Newstead and includes residential blocks, office towers, restaurants and parkland on the riverside business park and houses Energex’s head office
In March, FKP executive director Mark Jewell said the bank’s decision to move to the edge of the city recognised an emerging trend in Brisbane.
“Businesses increasingly recognise that basing themselves on the fringe of the CBD provides major benefits such as better car parking for employees and visitors, bigger floor plates, easier access, campus style buildings and state-of-the-art design,” Mr. Jewell said.
Tatts have also purchased a 3254 square metre site at 11 Breakfast Creek Road, Newstead.
Property Council Queensland chief executive Kathy Mac Dermott has also commented on this trend- ‘‘Brisbane is certainly a tale of two office markets at the moment, with the fringe continuing to grow in popularity with tenants while the CBD experiences challenges,’’
Would this be the best move your company??
This is something we have definitely been asking ourselves over the past few months and after weighting up the pros and cons we decided to take the plunge.
Contec Recruitment has moved to Teneriffe!! We are now located in the London Offices on the border of Newstead and Teneriffe. We are all loving the new location and enjoying the benefits of escaping the city and with the exception of the more expensive lunches and coffees it does seem to have been a great move for our company.
So it is time for your company to take the plunge too?