13/01/2012 - Endeavour finds Geebung berth
A Queensland based not-for-profit organisation has secured a long-term lease on Brisbane’s northside, enabling it to bring it’s local operations together on one site.
Endeavour Foundation has committed to a 10-year lease, with two 10-year options, for 4316sqm of industrial space spread across two tenancies at 400 Bilsen Rd, Geebung.
The leasing rate was not disclosed but market sources said similar properties in the area fetched $85-90/sqm, equating to between $365,000 and $390,000 a year plus GST and outgoings.
Lawrence Temple, from Raine & Horne Commercial, negotiated the deal. Mr Temple said the foundation initially began searching for new premises two years ago but, at the time, there was a lack of available buildings that suited its requirements.
He said between 4000sqm and 5000sqm was needed to bring together its Strathpine and Northgate sites.
‘They started looking again earlier last year, prompted by the fact that their Strathpine lease was approaching its expiry and they didn’t want to renew’ he said. ‘After an extensive search, Endeavour really only had one property short-listed which virtually ticked every box.’
Mr Temple said the two tenancies at Bilsen Rd were part of a complex of more than a dozen industrial sheds.
Endeavour favoured the site over others because it was located between the two sites they were combining and featured larger than average lunch rooms and air-conditioned workshop areas’ he said. ‘But the main thing was proximity and access to the rail for its workers. Sunshine Station is only a few hundred metres away.’
Mr Temple said the tenancies would cater for up to 150 workers at any given time.
‘The property is an older-style, metal-clad building but has been kept in a good state of repair so internally it presented quite well,’ he said.
‘The office-staff amenities component totals about 630sqm over two levels. This was recently refurbished and slight modifications were done by the owner so the building better suited Endeavour’s requirements.’
Endeavour Foundation is one of the largest non-government organisations in Australia, providing support and opportunities for about 3000 people with a disability through a mix of services and businesses.