Retail Food Group ditches Southport for Foxtel tower in Robina

Embattled Donut King owner Retail Food Group has left Southport and is moving to an office tower on the central Gold Coast.

EMBATTLED Gold Coast food franchisor Retail Food Group has decided to leave its Southport premises and move to the Foxtel tower in Robina.

The company, which holds its annual meeting tomorrow at the RACV Royal Pines Resort, announced to the ASX that it has vacated 1-3 Olympic Circuit in Southport and is in the process of fitting out new premises at 35 Robina Town Centre Drive, the home of Foxtel.

RFG will lease the whole of level four, which spans 1700sq m.

CBRE leasing agent Nick Selbie declined to comment on the deal when contacted.

RFG said it expects the fit-out at Foxtel to take about two weeks.

Former RFG managing director Andre Nell pictured at the Olympic Circuit premises in Southport. Photo: Regi Varghese

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While waiting for the fit-out to be completed, RFG staff will work from level nine of the Corporate Centre in Bundall.

Its administrative office will be temporarily relocated to premises in Tullamarine, Melbourne while the fit-out is completed.

RFG said there will be no change to its offices in Brisbane, Sydney, Auckland and Los Angeles.

The company announced in May it was looking for new offices on the Gold Coast, a third smaller than its then footprint.

Retail Food Group executive chairman Peter George now runs the company. Photo: Supplied

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The RFG brief was for 2500sq m on a long-term lease with a minimum of five years.

The Foxtel lease is 32 per cent lease space than RFG previously said it was looking for and follows a significant restructuring within the organisation. That followed its market capitalisation being slashed in the wake of widespread reports of mistreatment of franchisees.

The Pizza Capers owner previously had 3485sq m of space spread across Olympic Drive and 18 Commercial Drive in Ashmore.

It is understood the 1-3 Olympic Drive premises will be knocked down to make way for a self storage facility run by Kennards Self Storage.

The owner of the property is a subsidiary of Baudinet Group Pty Ltd, a Sydney-based company that has previously undertaken developments with Kennards.