Hundreds of Main Roads staff will move into a new and large Sunshine Coast office
Hundred of public servants on the Sunshine Coast will be moving into new office early next year after striking the biggest ever leasing deal for the region.
QLD Business
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A State Government department will consolidate its operations early next year after a deal described as the largest single office leasing transaction on the Sunshine Coast.
Up to 400 public servants will relocate after the Department of Transport and Main Roads secured more than 4100sq m in a two-level office building at 50 Wises Road, Maroochydore.
The deal will include number of secure parking bays in the purpose-built multi-deck car park at the rear of the property.
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CBRE’s Tony Justo, who represented the landlord Fernco Pty Ltd which also developed the building in 2017, said it was a long drawn out process with Main Roads having to negotiate the lease tails on four separate properties in Maroochydore.
“This is the biggest single leasing deal on the Sunshine Coast,” he said.
“It has been a three-year process from the initial inspection of the property by senior Transport and Main Roads staff in June 2017. It was very much a stop-start transaction.”
The building features up to 2500sq m floor plates and a couple of years ago the Department of Justice and Attorney-General secured 1000sq m in the building, after being introduced by CBRE.
Details of the deal were confidential but the term is for 14 years which includes an option period. According to industry sources the property was marketed for $350/sqm net.
Mr Justo said the building will now be fully occupied.
“The fit-out is being done at the moment and they’re looking to move in at the start of the year,” he said.
“This has been an excellent conclusion for the landlord CBRE being the agency which has successfully introduced both long-term tenants resulting in a fully leased building of over 5000sq m with strong lease covenants.”
