Construction Company Leases Spec Suite in Mackay as Demand Heats up for Fitted Space

A local construction company has leased a spec suite in a Mackay CBD office building before it was completed, demonstrating the demand for high-quality fitted out space.

Baguley Build Pty Ltd has committed to a 124sq m tenancy on level 3 building at 45 Victoria Street, known as the Mackay Corporate Offices, which has a total net lettable area of 3,278sq m over three levels.

The Mackay-based construction company will relocate to the building from its current space on Gordon Street in an expansion move.

It has signed a three-year lease with a three-year option for the spec suite in a leasing deal negotiated by Jessica Coleman of Knight Frank.

The lease was struck at a rate of $585/sq m gross plus GST.

The Mackay Corporate Suites, owned by development group DeMartini Fletcher, is located on a high-profile corner site in the Mackay CBD with main street frontage to Victoria Street.

The well-established property has recently undergone extensive refurbishment with a second high-spec tenancy due to hit the market next month.

Ms Coleman said Baguley Build was the first to inspect the spec suite, Suite 7, in the building before it was finished, and snapped up the space before it officially hit the market.

“As a commercial builder, the tenant understands intimately the benefit of moving into an established tenancy with a high-quality fitout versus fitting out themselves,” she said.

“They were fortunate to find a tenancy that suited their operations and desired location, while having the high-quality finish they wanted with immediate availability to house their expanding team.

“The building at 45 Victoria Street is among the best commercial premises on offer in Mackay, with car parking, disabled amenities and end-of-trip facilities.”

Ms Coleman said it was evident tenancies presented to the market with a high-quality fitout were in greater demand, and were leasing more quickly in the current market.

“Fitted tenancies of a premium nature are presently more attractive to enquiring tenants due to the high level of cost of fitouts being quoted, which are generally in excess of $2,000 per square metre.