The opulent former offices of the failed Storm Financial in Townsville have been leased to College of Australian Training, to host 400 students in city’s CBD.
In one of the biggest CBD lease deals of the last 12 months, a premium Townsville CBD office building, previously the home of failed financial business Storm Financial and totalling almost 1500sqm over three floors has re-opened with a new tenant.
The site, now mostly occupied by College of Australian Training, was previously built for, and occupied by, Storm Financial – the financial advisory business which attracted national media attention in 2009 when it collapsed.
Colliers International Townsville-based commercial sales and leasing executive Kim Addison said the building is a unique offering, with an opulent fit-out still in place, and a location boasting abundant onsite parking good street frontage for both inward and outward bound CBD traffic.
“The building has beautiful timber floors, quality fittings and finishes – it was designed as a high-end office and is in good condition despite being vacant for some time,” Ms Addison said.
Ms Addison negotiated the lease of the first two floors, totalling almost 1100 sqm premium office space, to the national college who are establishing training facilities in hairdressing, beauty and massage on the first floor, and completing a fit-out on the second floor for hospitality, tourism, retail and business tuition. This is expected to add another 400 students to the CBD, in addition to James Cook University and Central Queensland University’s metro campuses.
“There have been some doom and gloom media stories surrounding Townsville recently, but what we’re actually seeing at the coalface is that Townsville is still high on the list for national organisations and businesses looking to expand, including in the education sector.
“Townsville is the largest city in northern Australia and is a government, education, science and defence hub; College of Australian Training’s recent investment is another win for Townsville’s CBD, and our regional students.”