Ferrari secures prime position for its new Brisbane showroom at Energex House

ONE of the world’s most recognisable car brands has powered into Energex House.

Ferrari is moving into the ground floor of Energex house in Newstead. Martin Roller pictured.

ONE of the world’s most recognisable car brands has powered into Energex House.

Ferrari will officially open for business in August at a prominent ground floor showroom in the building on Breakfast Creek Rd, Newstead.

LMM Holdings managing director Martin Roller, whose company secured the local Ferrari franchise last year, said the business had a “pop-up” showroom on nearby James St.

“So we’ve had our eye on this site for some time,” he said.

“It took us a while but we managed to knock together a deal.”

LMM has an eight-year lease with an option on a 500sq m space. Sources say they will be paying in between $550/sq m and $600/sq m for the site.

Savills Garry McDowall struck the deal.

An extensive fitout will soon kick off according to specifications from Ferrari headquarters in Italy.

A concept image of the new Ferrari showroom at Energex House in Newstead

Mr Roller said since they had the temporary showroom in James St the business had taken 24 orders for new Ferraris and sold six used vehicles.

“I think there was a bit of pent up demand,” he said.

“But our budget is 25 new car sales a year and we have enough orders to cover next year’s allocations.”

A concept image of the new Ferrari showroom at Energex House in Newstead

Property group Cromwell bought the 6-Star Green Star office Energex leased office building in 2009 from Gasworks developers FKP/Aveo.

The ground floor retail was under a rental guarantee that expires this year.

Cromwell director — leasing Bobby Binning said the company had over the last six months sought to lease 1300sq m plus ground floor retail space.

As well as the Ferrari deal it has leased 600sq m of the ground floor retail to Italian-based eyewear group Luxottica. There was 300sq m remaining.

“We got a lot of interest from some excellent brands,” Mr Binning said.

“I think the Ferrari brand is iconic and we’re very proud to be associated with it.

“It's the right fit for Ferrari and the right fit for the building.”

Mr McDowall said Ferrari has leased a very high profile corner location in the heart of Newstead, which is undergoing a huge wave of new development.

“It is a great position for them on the run-in from the airport, past the car dealerships of Newstead and right at the entrance to the Newstead and Valley precinct,” he said.