$30M Foundation Place welcomes first major tenant
The first of 400 staff will start working inside the Maroochydore CBD’s Foundation Place next month as the $30 million building’s first tenants.
Business
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The first of 400 staff will start working inside the Maroochydore CBD’s Foundation Place next month as the $30 million building’s first tenants.
ASX-listed and local electricity provider LPE has been confirmed as a major tenant to take up the entire top floor within the $430 million city centre’s first commercial building.
Evans Long director Dirk Long said it was an exciting to have a local firm take up a tenancy in the building.
Mr Long’s company drove the development of the building.
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“We are about 12 months in the construction phase after buying this site two-and-a-half years back, we saw the potential,” Mr Long said.
“To have such a high-profile firm take up such a large floor plan in our new
building is great, it brings a lot of confidence too.
“We have loved the concept of a CBD on the Coast, have said it many times.
“The Coast needs a CBD and we are really excited to be the first cab off the rank.”
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LPE founder Damien Glanville said the company had grown rapidly since forming in 2014 and he too saw potential in the CBD site.
“We like to think of ourselves as progressive and we wanted to be part of it,” Mr Glanville said.
LPE, which has a customer base of about 35,000 in regions in southeast Queensland, Toowoomba and Bundaberg, will move in next month.
Mr Glanville said his company had about 65 staff ready to kick off in their 765sq m floorspace.
Mr Long said about 72 per cent of the building was committed to a range of tenants including Calibre Engineering, Australian Valuers, Sunshine Coast Property Accountants.
The building will accommodate up to 400 workers when at capacity.
Mr Long said the ground floor space would a bistro and a restaurant as well as a health or fitness centre.
He said negotiations were well advanced with potential tenants and expected to be in a position to announce who they were in “the next few weeks”.
“Each of these firms are now progressively moving into their new office space and we expect
all committed tenants will be in the building by December this year.”
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