Race is on for offices
A surge in activity in the resources, energy and construction sectors is leading a revival in office leasing in Townsville’s CBD as businesses take up work and position themselves for future work, Colliers Townsville managing director Peter Wheeler says.
While the office market in the CBD was coming off a low base, Mr Wheeler said the activity was encouraging.
“There’s been a really noticeable move with office leasing in the CBD at the moment. There’s probably been more office inquiry and office deals done in the last six months than there has been in the last 10 years,” Mr Wheeler said.
Accounting firm KPMG is re-establishing an office in Townsville as it grows to meet demand from the North Queensland market and expands its regionalisation strategy. The big-four firm, which provides advisory services to the government and private sectors, is leasing the entire top floor of the Suncorp tower in Sturt St.
The 550sq m premises can support up to 50 staff. It marks a return to Townsville for KPMG after last having a permanent office here in 1992.
Other recent deals women’s and men’s fashion store Rachelle’s Unique
Boutique has leased premises fronting Flinders St in Alexandra House opposite the Brewery and one of Queensland’s largest NDIS providers, Selectability, has leased the former Queensland Country Women’s Association building at the corner of Sturt and Denham St to establish a mental health hub. Also, a 278 sqm office in Denham St and a 508 sqm tenancy in Sturt St have been leased.
Mr Wheeler said they were dealing with other good leasing inquiry at present, some of which involved new businesses coming to Townsville.
“It’s been a mixed bag of new businesses to Townsville. We are coming off a low base when you are talking about office space in the CBD (but) it’s encouraging,” Mr Wheeler said.
“There’s been a couple of retail type leases in Flinders St which we haven’t been used to for quite some time.”
Mr Wheeler said Townsville had been in the spotlight around the renewable energy and mining and resources sectors with some big projects on the drawing board and the construction sector had been strong.
“I think you are seeing these consultancy type businesses who are doing work here and looking to position themselves to get work in the future,” he said.