LENDLEASE BUILDS ON CBD PRO­FILE

Townsville Bulletin - - PRIME SITE - TONY RAGGATT

IN­TER­NA­TIONAL de­vel­oper Lendlease is up­grad­ing its pres­ence in Townsville, re­lo­cat­ing to a Den­ham St of­fice tower and ac­quir­ing nam­ing rights to the build­ing.

It comes as Lendlease em­barks on its $ 4.7 bil­lion El­liot Springs res­i­den­tial com­mu­nity in Townsville and as the CBD of­fice mar­ket shows im­prove­ment with a strong take- up of space in high qual­ity of­fice prop­er­ties.

Lendlease is tak­ing 300sq m of of­fice space on level five of 75 Den­ham St.

Its cur­rent premises in Walker St have been ac­quired by Lau­rence Lancini’s Lancini Prop­erty and De­vel­op­ment which is mov­ing its Townsville head of­fice at Gar­butt into that site early next year.

Re­gional de­vel­op­ment man­ager for Lendlease Com­mu­ni­ties Si­mon Walker said the re­lo­ca­tion and ac­qui­si­tion of nam­ing rights were an op­por­tu­nity to raise Lendlease’s pro­file in the city and show­case its strong links with Townsville.

“Lendlease has been op­er­at­ing in the Townsville re­gion for more than 20 years. About 20 per cent of our Townsville team were born in the city,” Mr Walker said.

“This new of­fice rep­re­sents the next chap­ter in our jour­ney at Townsville.”

Build­ing firms have been work­ing on a high- end fitout for the new of­fices which Mr Walker said was be­ing de­liver- ed by 100 per cent lo­cal con­trac­tors. About 35 Lendlease staff will move in over the next cou­ple of weeks.

Col­liers In­ter­na­tional se­nior ex­ec­u­tive James Pas­coe said the lease and al­lo­ca­tion of nam­ing rights was a good out­come for the build­ing.

Mr Pas­coe said the build­ing own­ers had in­vested more than $ 3 mil­lion into a makeover of the build­ing in 2011 and were now be­ing re­warded with strong in­ter­est in the prop­erty in an in­creas­ingly com­pet­i­tive TONYT RAGGATT 4722 4439 CHRISTIECHR ANDERSON 4722 4741 mar­ket for qual­ity space. “We have seen an in­crease in the leas­ing of qual­ity space,” Mr Pas­coe said.

Also, de­vel­op­ment of the Er­gon and Verde tow­ers in 2013 had lifted stan­dards and the ex­pec­ta­tions among ten­ants for sim­i­lar qual­ity space, he said.

Sun­corp Plaza in Sturt St has re­duced its va­cancy fac­tor to 9 per cent, while Adani last month opened its re­gional head­quar­ters at the River Quays build­ing in Tom­lins St, where it will also es­tab­lish its re­mote op­er­a­tions cen­tre for its Carmichael coal project.

The Lendlease build­ing is a seven- level of­fice com­plex with an at­tached multi- level carpark that was one of the first ma­jor of­fice tow­ers de­vel­oped in the city in the 1980s.

Its makeover, which won a Master Builders award in 2012, in­cluded new tinted glass fa­cade, re­fur­bish­ment and over­haul of ser­vices with new lift, air­con­di­tion­ing and switch­boards.

Pic­ture: ZAK SIMMONDS

ON THE MOVE: Col­liers In­ter­na­tional ex­ec­u­tive James Pas­coe and Lendlease North Queens­land di­rec­tor Si­mon Walker in front of the new Lendlease build­ing in Den­ham St.

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