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News release

Brisbane

Dimension Data leaves fringe for CBD in Jones Lang LaSalle deal


BRISBANE – 23 July 2012 - Dimension Data has committed to relocate from Milton to 141 Queen Street, a move which sees one of the fringe market’s long time tenants leave for the CBD in a bid to be closer to clients and to take up space a top Queen Street address.

Jones Lang LaSalle’s James Montague secured the deal, signing off for Dimension Data to take levels 21 and 22, the top two typical floors, at 141 Queen Street, a total of 1,634sqm on a seven-year lease.
 
“The top two floors at 141 Queen Street provide a rare contiguous opportunity providing fully refurbished accommodation with largely unhindered view corridors. This was a key point for Dimension Data; they were searching for new Brisbane-headquarter space in the CBD, that was central to their client base and provided excellent natural light – 141 Queen Street fits the bill perfectly,” he said.
 
“The added bonus was that it’s a Queen Street address.
 
“Space such as this is a rare offering right now,” said Mr Montague.
The deal was struck at market rates, understood to be between $500/sqm to $550/sqm.
 
“The fringe to CBD relocation was prompted as a result of Dimension Data preferring to be closer to their client base, as well as being able to access the city’s rapidly growing amenity (the growth and success of bars, restaurants, entertainment options and character in the CBD was a real drawcard), and the excellent transport options were deal makers.”
 
Ken Westwood, Chief Operating Officer, Dimension Data, added: “I am excited that our business in Queensland is continuing to grow which in turn has driven the need for a larger premise. This new premise in the CBD not only supports our growth but brings us closer to many of our clients, improving our overall accessibility and client experience.”
 
Mr Montague said the Brisbane office market remained fairly tight, particularly as the effects of the mining sector flowed through. Buildings such as 141 Queen Street remain high on the wish-list as it provides quality accommodation at a sensible price-point.