VennCap Real Estate are pleased to welcome REA Group to 41 O’Connell Terrace, Bowen Hills in Brisbane as our newest tenant occupying the whole of level 2 for a 6-year lease term, commencing in July 2022. The tenancy will accommodate the expansion of Smartline relocating from level 1, and Mortgage Brokers, a new addition to the building. Both businesses were recently acquired by REA Group.
“There was a desire for these acquired businesses to be located in close proximity to REA Group’s Brisbane head office at the Homemaker Centre, Fortitude Valley,” said Tactic Property Senior Partner Michael Skarparis who concluded the transaction.
“These staff needed to be accommodated in a similar calibre of office space and there was a high-quality existing fitout in part of the office at 41 O’Connell Terrace.”
41 O’Connell Terrace is an A-Grade asset in a prime Bowen Hills location and had several factors that made it a perfect fit for REA’s needs.
“REA Group were attracted to 41 O’Connell Terrace included the useability of the high-quality existing fitout, an abundance of onsite staff and visitor parking as well as the A-grade building services.
VennCap Real Estate Director Tim McEnallay was “delighted we were able to accommodate the expansion plans of Smartline and work with our leasing agent to accommodate the broader requirement of the REA Group.”
REA will be joining new tenants Healing Hands and Brisbane Café Group at 41 O’Connell Terrace after their leases commenced in September 2021 and May 2022 respectively.
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