The Nerang ex-headquarters of V8 Supercars found its first new tenant with the ground floor being leased to Lantrak, a leading building hire company across Australia.
The property located at 34 Nerang St is owned by Terry Morris, a prominent Gold Coast businessman and the owner of Carrara Markets, Sirromet Wines and Good Times Pub Group. CBRE’s Nick Selbie negotiated the lease for 274.5sqm of the property, on a five year term with five year option for an annual gross rent of $420/sqm.
Mat Stenham, Lantrak Business Unit Manager said; “The building supported every need to accommodate Lantrak’s growing requirements, with exceptional design and build quality, and an ideal location on the Nerang River to service South East Queensland. Operating in materials haulage and relying on road infrastructure, it is crucial for Lantrak sales representatives to have direct access north and south bound of the M1, and for its contractors to have equal access to the new premises.”
The property was originally built for Terry Morris’ own business interests, however V8 Supercars enquired about its availability when it neared completion in 2008. V8 Supercars occupied the property until early this year, at which time the company chose to relocate part of the business to Sydney.
The property is an iconic building with finishes that complement the surrounding environment on the banks of the Nerang River. Copper façade features and a natural colour scheme dominate the exterior, with state of the art internal finishes and fit-out.
Mr Selbie said; “We were seeking a full building user for the 1,200sqm property, however a recent commitment was made to split the building for multiple users. The landlord made the quick decision in consideration and judgment of the current market.
“Upon this decision, we went back through previous enquiry and spoke to Lantrak about the new offering and had an agreement in place within a couple of weeks. We are now fielding good enquiry from a range of business types and can accommodate small to medium size business which is perfect for the location.”
Mr Stenham said; “As a leader in its industry and experiencing consistently strong growth, Lantrak had been actively seeking a new corporate premises in QLD for some time. Having been aware of the V8 Supercars building for some time, when the opportunity to lease such a well-known building became available, it was the obvious choice. Lantrak look forward to establishing their Queensland branch in Nerang and eagerly anticipate moving into their new office.”
With the majority of the ground floor now committed, there are two remaining floors of standalone space from 250-430sqm and a small ground floor tenancy of approximately 65sqm available at the property.
Image credit – Lantrak