LENDLEASE BUILDS ON CBD PROFILE
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.
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.