Eagle, Edward, Creek and Queen hubs for small business expansion

BRISBANE, 10 October 2022 – Eagle, Edward and Queen Street in Brisbane’s CBD are becoming hubs for expansion-led leases by smaller business, according to JLL Office Leasing Executive Stephanie Macourt who has recently finalised eight city leases totalling over 1,700sqm.

All eight leases are a result of smaller businesses expanding, with two relocating out of co-working spaces.

Conveyancing Connection has leased 284sqm on Level 1 at 82 Eagle Street for five years. The lease was an expansion-prompted relocation from strata offices at 371 Queen Street.

Evolved Engineering’s lease of 91sqm on Level 2 at 167 Eagle Street represents a move from their coworking space at Hub Australia at 200 Adelaide Street into standalone space. Evolved Engineering has chosen to build a brand-new bespoke fitout within the tenancy, to reflect their office in Sydney.

The business expansion theme continues with the move by Xenco Services from 444 Queen Street to 243 Edward Street, taking a 235sqm sublease on Level 9.

Business management consultants Vaxa will now call Brisbane’s CBD home, moving from 82 Latrobe Terrace in Paddington into the city, leasing 194sqm on Level 19 at 324 Queen Street.

Recruitment and contract management specialists GlenFisk will also call Brisbane’s CBD home, taking 375sqm at 120 Edward Street, a major move from previously working exclusively from home. The company leased space on Level 8 and were attracted to the A-grade property services and the existing high-quality fitout in the suite.

Ryan Global has taken 144sqm on Level 12 at 127 Creek Street, moving from Beenleigh into a high-quality fitted office. The lease is their first in the city. Similarly, Bundaberg-based BMRG are making their first foray into the Brisbane CBD, taking 235sqm on Level 34 at 345 Queen Street on a five-year lease.

Advisory and investment group Sayers completes the list, leasing 214sqm on Level 10 at 179 North Quay. This is their first office lease after moving out from Hub Australia at 200 Adelaide Street, and they’ve moved into a brand new speculatively fitted out space.

The leases were all negotiated for rates between $585sqm and $805sqm.

JLL Office Leasing Executive Stephanie Macourt said the leases reflect strong trends in CBD relocation and a preference for fitted stock.

“We are seeing smaller businesses looking to call Brisbane CBD home, and relocating from fringe areas, or moving out of shared workspaces to independent offices; predominantly into fitted spaces which aids in reducing relocation timelines,” said Stephanie. “Smaller business can be much nimbler when it comes to space requirements and are generally looking towards fitted tenancies due to rising construction costs, reduced consumer sentiment and convenience.”

“It’s exciting the see the CBD welcome this number of dynamic businesses.”