Advisers move up PVW Partners spends $ 2.5m on purpose- planned office

BUSINESS advisers PVW Partners are making a $ 2.5 million investment into new fit- for- purpose offices with the purchase of a property in the Townsville CBD.

The 650sq m office and warehouse property at 52 Walker St is being completely gutted and rebuilt to provide a professional environment for its 30 staff and some 500 clients, many of them family businesses from throughout North Queensland.

“It’s a good investment for us,” managing partner Carl Valentine said.

“I’d rather pay a mortgage than rent for someone else.”

It also reflected their long- term commitment to Townsville and the continued growth of the business in North Queensland, Mr Valentine said.

The partners, Mr Valentine, Greg Peel and Andrew Whitehead, acquired the former PricewaterhouseCoopers Townsville practice about 12 months ago.

The firm has been based in leased premises in Sturt St for almost 30 years, while the practice has a long history, having been established in the 1920s by Sir Arthur Fadden, an Ingham- born accountant who later became Australia’s 13th prime minister.

The Walker St property had been acquired by the Lancini group last year but has now passed to PVW Partners in a deal that finalised last month.

A complete renovation is under way, headed by local builder Gedoun Constructions.

Mr Valentine said they recognised very early they needed specialists and other advisers to develop the property into the home they wanted.

They have used suppliers including Gedoun Constructions, Counterpoint Architecture, Ethos Interiors, Moduline, Rowanair, NQAV, Wilson Ryan Grose, RLA Finance and NAB.

Joe Gedoun of Gedoun Constructions said there were green shoots appearing in what continued to be a very competitive building market in Townsville.

Mr Gedoun said it was important to support local businesses.

Mr Valentine said they provided services to 500 client groups and family businesses from Mackay to Cooktown and west to Mount Isa.

He said they were positioning the Townsville firm for growth to a staff of 40 and planned to move into their new home in late January next year.

“Our new home will be modern, fitfor- purpose and full of natural light to create the best environment for us to continue providing the best taxation, accounting and advisory services to the businesses and families of North Queensland,” Mr Valentine said.