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Fortitude Valley attracts IT businesses

Procura, Cyberhound and Aconex move into 895 Ann Street

Three IT software businesses have made 895 Ann Street in the Fortitude Valley their new business address after signing three to five year leases for a total of $312,000pa over 780sqm.

The three level office building which has recently undergone refurbishment is located in the heart of the Fortitude Valley on the corner of Ann and Wandoo Streets. There is now only 400sqm remaining to lease in the building on level two.

Bo Veivers, Director of Office Leasing at Colliers International who negotiated the leases said that Procura, Cyberhound and Aconex were all chasing an office with high car parking requirements in a good location close to amenity and public transport.

“The building offers secure undercover car parking at the ratio of 1:40sqm, as well as external car bays. This coupled with ideal location close to James Street precinct were all factors tenants were attracted to.

“We are finding there is a lot of activity in the sub 500sqm office range, groups are looking to relocate now and agree to 3 to 5 year terms. The preference is for fitted out space, due to short lead times, so they can move into the new office quickly.

“The market is currently experiencing a bit of competition for B Grade office accommodation, especially in Fortitude Valley where the vacancy is about 10 per cent, compared to overall Brisbane metro which is at about 12.5 per cent. There is still positive net absorption but it is harder to find quality space especially in Fortitude Valley,” Mr Veivers said.

Procura

  • 200sqm on level 1 (part floor); completed their own fitout
  • 5 year lease at $400/sqm
  • Relocating from a smaller office at 50 Sylvan Road in Toowong
  • Procura offers healthcare software solutions in the aged, community and disability care industry

Cyberhound

  • 380sqm on level 2 (half floor)
  • 3 year lease term at $400/sqm
  • Partially fitted out tenancy, made some modifications to suit their requirements
  • Expanding their business
  • Cyberhound develops security software solutions for schools

Aconex

  • 200sqm on level 1 (part floor)
  • 5 year lease term for $400/sqm
  • Relocating from Breakfast Creek Wharf which is being developed into the Mercedes dealership
  • Aconex provides an IT solution which is the most widely used online collaboration platform in the world for construction, infrastructure, energy and resources projects. 
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