JLL wins Bundall job

GLOBAL real estate services firm JLL has scored the job of managing Bundall’s Corporate Centre, one of the city’s largest commercial property assets.

Sydney funds manager CorVal finalised a deal to buy the twin-tower property from Cromwell Property Group for $89 million earlier this month.

The property’s tenants include Wyndham Vacation Resorts Asia-Pacific, Suncorp, Regus, KPMG and CBA.

JLL Qld’s head of commercial management Lydia King said JLL had a long relationship with CorVal having managed its office tower at 160 Ann St, Brisbane, for many years.

“The management role coincides with our appointment to the Zupp portfolio, which includes several Gold Coast assets, in addition to our management of retail assets in the area. The news is very positive indeed for JLL on the Gold Coast.” she said.

The Bundall Corporate Centre’s first tower was developed in the 1980s by Raptis Group and completed in 1990.

In 2005, Cromwell Property Group took over for the first time after paying $58.5 million and two years later sold it for $106 million to Trident Group.

The Trident Group developed the second tower, called the Wyndham Corporate Centre, as part of the complex and Cromwell purchased both towers for $64 million in 2011.