CNQC lease at 50 Cavill

CHINESE construction and development giant Qingjian Group (CNQC) has leased premises at the 50 Cavill Ave tower in Surfers Paradise.

The company, which is undertaking construction of the 25-level Northcliffe Residences project in Surfers Paradise, has taken a three-year lease for a 131sq m office for $47,160 per year plus GST.

The lease continues a run of strong demand for space in 50 Cavill, which has seen an increase in tenant take-up since a recent refurbishment.

Eastview Australia’s Graham Goldman, who is the project director of Northcliffe Residences, said the lease was a significant move for CNQC.

“It comes at a time when the company is extending its reach regionally. The Gold Coast and Australia more broadly offer a number of opportunities for a group of this scale,” he said.

CNQC is the largest construction company in Qingdao City and Shandong Province and its global portfolio includes The Palm Jumeirah Villas and Nad Al Sheba Racecourse in UAE, Sana International Airport in Yemen, the presidential office buildings in Yemen and Mali, the sailing facilities for the 2008 Beijing Olympics and Chinatown in Brisbane.

Construction of Northcliffe Residences is under way and the first residents are due to move in mid-next year. CNQC took control of the project last year after buying out jointventure partner Mii Group.