Gold Coast food franchisor Retail Food Group on the hunt for new premises to house staff
Food franchisor Retail Food Group is looking for new offices on the Gold Coast, one-third smaller than its current footprint.
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SLIMMED down food franchisor Retail Food Group is looking for new offices on the Gold Coast - one-third smaller than its current footprint.
The Donut King and Crust Pizza owner, which has seen its market capitalisation slashed in the wake of reports of mistreatment of franchisees, currently has 3485sq m of space across two locations at 18 Commercial Drive, Ashmore, and 1-3 Olympic Circuit in Southport.
This morning CBRE issued a market brief to agents and landlords asking them to submit options to accommodate the 2500sq m RFG requirement on a long-term lease with a minimum of five years.
The brief says RFG is looking for a central Gold Coast location close to amenities and transport options.
RFG, which has been moving staff from Commercial Drive to Olympic Circuit as it restructures, has leases on both properties expiring early next year.
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The CBRE brief calls for expressions of interest to be lodged by the end of next week.
A spokeswoman for RFG said restructuring remains a priority for the business.
“It is all about creating a more agile, customer-focused business closer to the needs of our franchisees,” she said.
“This also includes looking at our lease arrangements for 2020 and beyond.”
She said most of the staff from the Ashmore office had been brought to Southport.
“Recent restructuring initiatives have made that possible and we are now able to bring together the staff from both our Ashmore and Southport offices. The floor space in the Olympic Circuit premises has been modified enabling the combined staff to work more closely and efficiently.”
She said the requirement for 2500sq m will suit the needs of the business for the next five years.
The Commercial Drive and Olympic Circuit properties were two of three commercial properties, including a vacant cold storage facility at 24 Octal St, Yatala, RFG put to the market in 2017, while it sought to centralise its operations at the former Bulletin headquarters in Molendinar.
The 18 Commercial Drive property was bought by a company linked to former CEO Tony Alford and fellow former executive Alicia Atkinson for $2.075 million.
Mr Alford also bid for 1-3 Olympic Circuit but lost out to Sydney businessman Bruce Baudinet, who paid $3.8 million for the property.
Mr Alford bought 24 Octal St for $2.31 million but the sale fell through and it sold to Eastside Property Pty Ltd, associated with Stephen McLeod.
RFG did not make the planned move to Molendinar after the business was severely hit by the allegations of damaging franchise models leading to ruined livelihoods for franchisees.
The company has about 170 head office staff.
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