Renovated commercial property in Townsville City leased by Knight Frank

Contact

Nov 12, 2024

Renovated commercial property in Townsville City leased by Knight Frank

An inner-city warehouse and office property in Townsville at 647 Flinders Street Townsville leased to Dawn Services, a disability support service brokered by Knight Frank agents Dan Place and Mark Fitzgerald.

Knight Frank

647 Flinders Street Townsville leased to Dawn Services

An inner-city warehouse and office property in Townsville has been leased to a disability support service following a full renovation of the asset.

The property at 647 Flinders Street consists of a two-level commercial office building with attached warehouse, with has 655sq m of lettable area on a 1,012sq m site, with a secure rear yard area for storage or parking.

The 360sq m fully fitted office component includes multiple offices, a boardroom, open plan workstation area, male and female amenities including shower, kitchen and lunchroom, while the 295 sqm high clearance warehousing has drive thru access to rear yard area.

It will now be occupied by Dawn Services, after the disability services provider committed to lease the asset for seven years.

The lease, which was struck at a rate of $207 per square metre net, was negotiated by Knight Frank agents Dan Place and Mark Fitzgerald.

Dawn Services will relocate to the Townsville City property from a premises it previously occupied at 49 Bombala Street in an expansion move.

“The tenant needed more space to accommodate the growth in its business and provide important services to the area,” said Mr Place.

“The owner had invested a significant amount of capital in upgrading the building, making it highly appealing to the tenant.

“Owners who leave their property vacant with no fitout are finding it more difficult to transact compared to those who adopt a progressive and forward-thinking approach to meet tenant demands.”

The property owner had completed a full renovation of the property prior to the lease being signed, with the work being done by local builder Lyon Build North Queensland.

Works included an upgrade to the external façade and a complete brand-new internal fitout with disabled amenities.

Mr Fitzgerald said: “The availability of offices with attached warehousing are rare within the fringe CBD leasing market, hence this opportunity was snapped up by the tenant.

“Being located in Townsville City, the property is also in a good location, within walking distance to an abundance of retail services and Queensland Country Bank Stadium.”