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Workplace Connectivity Driving Demand For CBD Office Space

Advisors in personal financial services – GPS Wealth, have begun a new journey, having recently moved out of the wider Brisbane fringe and into the CBD. Now based out of the Cromwell owned and operated, 200 Mary Street, the business is delighted to have taken their next step, occupying 124sqm in the asset on a 4 year term.

Previously located in Upper Mount Gravatt, the business realised the value potential of centralizing their services and saw the CBD as the best location for positioning their operations.

As new entrants to the Commercial office leasing market, GPS entrusted their brief to Chris Jenkins from Caden Office Leasing to run the process from start to finish. Their requirements included, a central location with space for 10-12 staff and private meeting spaces. Caden arranged a number of inspections of circa 100sqm tenancies, ranging from North Quay, to Edward Street and Mary Street locations. After two (2) rounds of inspections, Chris Monico (National Practice Manager, GPS) was confident of a shortlist of options that had drawn GPS Wealth’s interests, ultimately pursuing 200 Mary Street, given the cumulative offering available there.

As a nationally recognized name within the property community, Cromwell have been very proactive in understanding and catering to the needs of tenants in the current market, and this has subsequently seen occupancy in the building increase to 98.49% as of March 2020. Located on the fringe of the Golden Triangle, competition amongst these assets is strong, a challenge which Cromwell have subsequently acknowledged and tailored 200 Mary Street’s proposition accordingly, to ensure that they remain competitive and relevant against Prime & Secondary competition in the CBD’s most sought after precinct.

Aspects of 200 Mary Street that resonated with GPS Wealth, outside of the office space itself, were the Cromwell Business Hub as well as access to one of the best End of Trip Facilities in the B-Grade market. The Business Hub proved to be a notable factor, allowing the business to take a more efficient space within the building and providing staff with the opportunity of booking any one of the available meeting rooms or conference room, free of charge. Furthermore, the End of Trip Facilities are well placed with showers, bike racks, complimentary towel services, lockers and quick street access to both Mary and Charlotte Street’s.

The Level 6 tenancy itself was the final high-note. Considering only a few minor alterations were required for the existing fit-out, they were able to secure an agreement that was, instead, largely geared towards keeping their rent competitive. Cromwell were very accommodating of the businesses requirements and worked around the clock to ensure that the space was presented in the best possible light in time for GPS’s commencement. The utility of having a Landlord who simultaneously manages and occupies the property onsite was a highlight appreciated by Chris, which also made the move all the smoother once the works and financials had been settled.

Chris Jenkins negotiated this lease – for more information, or if you’ve got any questions regarding your leasing requirements please contact Chris on 0413 506 179 or chris.jenkins@caden.com.au.