Left: AMP Capital’s South Brisbane office at 199 Grey Street. Right: Vitality Village on the Sunshine Coast acquired by HealthCo. Images: Supplied.
  • BDM Vircon is moving to AMP's 199 Grey St
  • The seven year lease is for 1,118 sqm
  • Vitality Village was sold to HealthCo (ASX: HCW)

AMP Capital’s South Brisbane building at 199 Grey Street is set to see BDM Vircon join the list of tenants.

The digital engineering company has signed on for 1,118 square metres over seven years at a rate of $630 per square metre.

CBRE said the South Brisbane address has also seen commitments from BUMA Australia (1,117sqm), RSP (745sqm), and Octopus Deploy (745sqm).

CBRE’s Matt O’Brien said three of the new occupiers are choosing to upgrade their spaces rather than inherit second-generation workplaces, a trend expected to increase as companies look to bring staff back to the office.

“BDM Vircon was attracted to the property’s newly refurbished floor plate, outdoor balcony zones, perimetral window surrounds, city view aspect, and South Bank location,” Mr O’Brien said.

“We have found that organisations are now preferencing assets that offer diversified onsite amenities and can offer outdoor zones providing an optimum environment for collaboration and engagement.”

HealthCo buys $29 million Sunshine Coast asset

Vitality Village healthcare development has been acquired by HealthCo (ASX: HCW) for $28.9 million, representing a 6.5% fully-let initial yield.

HealthCo was created by then HomeCo or Home Consortium, now HMC Capital (ASX: HMC), mid-last year, with the HCW portfolio also including a Camden hospital development, and the company had a successful $1 billion raise also occurring last year.

The development is located within the Sunshine Coast Health Precinct, 12 kilometres south of Maroochydore, and has a gross floor area of 4,636 square metres across five levels.  The asset comprises high quality healthcare and allied health/wellness tenants with high exposure to CPI-inked leases. Major tenants include Commlink Australia, who occupy 35% of the building.

CBRE’s Louisa Blennerhassett, Rem Rafter, Michael Hedger, and Sandro Peluso brokered the transaction on behalf of local owners.

“The underlying growth story of the Sunshine Coast is attracting very strong investment interest in the region,” Ms Blennerhassett said.

“Vitality Village is located in a highly sought-after health precinct, adjacent to Sunshine Coast University Hospital, one of Australia’s largest ever health infrastructure projects. This location attracted local, national, and international interest.”

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