Totally pleasing location

TOTALLY Flooring Gold Coast has leased new premises at Bundall after moving from Southport.

The flooring and blinds retailer has signed a three-year lease with a three-year option for 2/72-74 Upton St, Bundall.

The company, which moved in last month following a 10-week fitout, will pay $98,000 gross annual rent.

Totally Flooring has agreed to annual rent reviews of 3.5 per cent or tied to the Consumer Price Index if greater.

Leasing agent Adam Roberts, of CBRE, said the gross rental rate of $417sq m was a record for a showroom on Upton St.

“They are going there to get into an established estate,” he said.

“There is a lot of demand for room in there.”

The property is split into a 171 sqm showroom on the ground level and 64 sqm of office space on level one.

Michael Sanguigno is the owner of the two-tenant complex at 72-74 Upton St.

He paid $475,000 for the property in 1999.

The other tenant is mattress retailer Original Mattress Factory, which signed a longterm lease that started earlier this year.