In the Media

  • Fortitude Valley building nets tech group

    Published in: Courier Mail
    Published on: 15 May 2015

    A NINE-level commercial building constructed two years ago in Brisbane’s Fortitude Valley has signed up its first office tenant. Nextgen, a supplier of network connectivity, data centre facilities and cloud services, has taken a six-year lease over 380sqm on level three of 51 Alfred St.

     

    The A-grade office building comprises a total net lettable area of 8000sqm and was a $35 million project developed by Excel Development Group. Nextgen has a data centre across the road and is using the space in 51 Alfred St for a new sales office. Landlord representative, K2 Private’s Will Harburg, negotiated the deal with Savills’ Billy Miller, who introduced the tenant. It was struck at a rental rate of about $585sqm with annual reviews.

     

    “The location played a key role in the decision,” Mr Harburg said. “51 Alfred St benefits from its close proximity to the Valley’ s train station as well as vast staff amenities”. “From the outset it was very important to Nextgen that they chose a tenancy where there was no risk of flooding or losing power”. “As 51 Alfred St sits on two separate power feeds it was an obvious choice.” Mr Miller said “the lease reflected the continued maturing and appeal of high quality office premises in the Fortitude Valley-Newstead precinct.”