Two groups upgrade from tenant to landlord at Milton’s Camford Square
JLL has brokered two deals at Milton’s Camford Square, with Elliott May Lawyers and Kearney Architecture each acquiring assets in a ‘double deal’ totalling $3.4 million.
The deals for 11 Camford Street and unit 2/7 Camford Street were brokered by JLL’s Sam Richards, for $2.6 million and $835,000 respectively.
JLL Senior Executive, Metro Sales and Investments, Sam Richards, highlighted the properties’ appeal: “This complex is among Milton’s most desirable business hubs. We’re seeing growing demand for flexible and functional office spaces in established areas like Milton, as companies prioritise accessibility and employee convenience.”
The separate premises offer approximately 682sqm of versatile office space, along with generous parking options, including 10 spaces allocated to number 11 and four spaces for number 2/7.
Both properties were owned by Reay and Jules Mackay, founders of the training management software company, aXcelerate. The business had occupied 11 Camford Street for over a decade.
Mr Richards added, “The properties were offered for sale with vacant possession and marketed concurrently. Given the vendors’ relocation requirements, we worked within a tight timeframe to target two separate owner-occupiers.”
“The two purchaser groups, transitioning from tenants to landlords, are planning to occupy the premises in the coming months.”
“This double deal exemplifies the ongoing appeal of Milton’s commercial real estate market as it continues to attract strong interest from businesses seeking well-connected inner-city office spaces,” Mr Richards said.
James Hickey, of Elliott May Lawyers said, “After long-term sustained growth, we are excited to provide our team with new premises. The two-storey office space offers the perfect size and layout to accommodate our current team and support our future growth.”
“Transitioning from tenants to owners gives us greater control over our work environment while creating a lasting asset for the company. Milton’s central location, with easy access for team members across Brisbane and proximity to public transport, made it a highly convenient and appealing choice,” Mr Hickey said.
The upstairs portion of 11 Camden Street will be occupied by the Elliott May team, while the downstairs will be leased to one of its clients, Bluestreak and its finance team. Kearney Architecture will own and occupy 2/7 Camden Street.
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