St Vincent’s Health Australia have committed to a 902sqm office on level three at 25 Montpelier Road in Bowen Hills after signing a five year lease. They are scheduled to occupy the fully fitted out space in early November.
St Vincent’s Health Australia is the nation’s largest Catholic not-for-profit health and aged care provider who own facilities across Australia that include public and private hospitals, aged care facilities and co-located research institutes.
“St Vincent’s are currently owner occupiers in the building directly opposite the road, and we approached them to see if they required bigger premises,” said Bo Veivers, National Director of Office Leasing at Colliers International who negotiated the lease at $520/sqm gross.
“They are expanding and originally were looking for additional office space of 300sqm to 400sqm in size, but given the fully fitted out opportunity at 25 Montpelier, they ended up taking the entire third floor, and 12 car spaces.
“Aged care operators have become very active in Brisbane in recent months, considering the introduction of several planning policies and incentives by the Council to encourage more inner suburban aged care developments.
“With the Queensland population accelerating and the demand for retirement living set to double by 2027, it is great to see these groups growing and providing much needed housing choices, healthcare and facilities for this demographic.”
According to Mr Veivers the opportunities for good quality A Grade buildings in the popular Gasworks precinct are drying up, with Gasworks office space also fully leased.
“25 Montpelier Road is a modern 7,600sqm A Grade building that was completed in 2011 and offers one of the largest floor plates in the City fringe. The building currently has about 30 per cent space available for lease, half of which is fully fitted out.”
The 4-Star Green Star Rated asset features campus-style amenity that enables higher occupancy efficiencies, reducing tenant’s costs whilst encouraging collaborative and creative work environments.