03/06/2011- Handy Space for Databank
A national offsite data storage and protection company did not have to look too far in its search for additional space for its rapidly expanding Brisbane operation.
With a neighbouring business downsizing, Databank moved quickly to hit the save button to secure the surplus space next door to its existing facility on the city’s Northside.
It has committed to a two-year lease with a two-year option on the 1522sqm office/warehouse at 2/57 Hayward St, Stafford.
Trent Bruce and Lawrence Temple from Raine & Horne Commercial negotiated the deal. It was struck at a leasing rate of about $174,000 a year.
The property comprises 322sqm of load-bearing mezzanine space and a 1200sqm clearspan warehouse with 8m-plus internal height, enabling an extra level of racking.
Mr Bruce said Databank was in an expansion phase to meet pent up demand for its services and was fast outgrowing its 2000sqm facility. ‘They are rapidly running out of room’ he said. ‘Initially, they were looking for a larger site to do a D and C (design and construct) for a purpose built facility but it was a bit too preliminary.
‘Then, when the opportunity came up next door it was too good to be true and too good to pass up so they jumped on it.’ ‘It was a perfect fit for them and if they hadn’t taken it they would have been out of space within a couple of months.’
He said apart from the efficiencies it offered being right next door to Databank’s existing facility, it also appealed because of its central location and the surrounding amenities, including the nearby Stafford City shopping complex. Mr Bruce said more leasing deals were being done than sales and the market remained ‘patchy’. ‘For owners prepared to meet the market there are still deals.’