_Construction company leases spec suite in Mackay as demand heats up for fitted 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.

“There is a high level of aged vacancies so although tenants are active, there is less urgency than previously and tenancies that stand out from others are leasing faster.”

Since opening its doors in 2005, Baguley Build has proudly completed many projects in and around Central Queensland communities, including high-end residential, grandstands, town squares, industrial sheds and so much more.

Their projects include the renovation of the Clermont Showgrounds Pavillion, the revitalisation of the Moranbah Town Square and the transformative redevelopment of the Mount Morgan Aquatic Centre.

Most recently they completed a six-townhouse development and subdivision for the Quilpie Council in South Western Queensland. Regional builds for Qbuild and other western Councils have become a large part of their operations.

“Our business has grown strongly over the last few years and we are truly Queensland’s regional builder,” said Managing Director Geoff Baguley. “Being based in Mackay, which is very central to our operations, allows us to attract highly skilled people to our business due to our sought-after lifestyle in the region.”