GIANT GERMAN FIRM LEASES AT YATALA

GERMAN electrical engineering giant Siemens has leased new premises at Yatala.

The company has moved from a 500sq m facility in Loganholme to a 1470sq m property at 2-4 Union Cct.

It has signed a five-year lease with two five-year options at $110sq m net plus outgoings and GST.

Cushman & Wakefield Gold Coast manager Dave Kertesz, who negotiated the terms of the lease, said the company undertook a substantial fitout of the new premises. Siemens plans to invest $25m in its Yatala operation during the next five years.