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AUSTRALIA, 16 November 2012 - Jones Lang LaSalle’s Christian Allen and Sam Barr have finalised a lease for the Australian Red Cross in Stage 1 of Kings Row Office Park in Milton.
The 507sqm lease on level 3 of the commercial tower is a sub-lease off a company which was recently acquired and has since relocated to its parent company’s premises.
The Red Cross lease is project office space, leased on a 2 plus 1 year basis. The deal was done by Christian together with his Jones Lang LaSalle colleague Sam Barr, and will see Red Cross utilising the high level of fit out left by the exiting tenant.
“The quality of existing fit out and its conventional configuration was well received by Red Cross, given the shorter term nature of the requirement.”
“This lease realised a great outcome for both parties – Red Cross was seeking short term project space within Milton, and the departing tenant wanted a sub-lease tenant on a walk-in, walk-out basis. We were able to bring these two together,” said Mr. Allen.
“Kings Row Office Park boasts on site amenity such as a swimming pool, tennis court, conference centre and end of trip facilities for cyclists; all of which were received very positively by Red Cross.”
“The Milton office market remains healthy with vacancy rates contracting from 10.4% to 9.6% over the last quarter; which is on par with long term averages for Brisbane’s Near City market.”
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