Virgin Australia, one of Australia’s largest airlines, is set to become a permanent tenant at Southpoint Tower located in South Bank Brisbane. They will be joining Flight Centre Travel Group’s global head office, one of the biggest travel agencies in the world.
Virgin Australia will enter into a direct lease starting September 2023 when their existing sublease agreement with Flight Centre Travel Group expires. Virgin Australia will rent nearly 7,300 sqm of space for a period of seven years.
“As we all know the last two years have been challenging for the travel sector due to worldwide restrictions, and in turbulent times is when you really get to know who are your business partners. At Southpoint we are blessed to work with professional and open minded people. Through this transaction Union Investment and all parties involved have shown their ability to think outside the box and seek workable solutions. This great outcome wouldn’t have been possible without to the professional and trustworthy people at Flight Centre Travel Group, Virgin Australia, HSF, AXA Investment Managers, CBRE, Knight Frank and HFW”, said Eric Frappier, Senior Asset Manager Asia Pacific at Union Investment.
Southpoint Tower, a Grade A office building with a total lettable area of 23,700 sqm, occupies a unique location on the edge of Brisbane’s South Bank precinct, a high-quality, vibrant mixed-use lifestyle district. The property benefits from strong public transport links with direct access to Southbank Station, proximity to The Emporium Hotel, and c. 4,400 sqm of retail space for further convenience.
“The modern office and commercial building enjoys a prime location in the sought-after business district of South Bank. With its elegant architecture and high construction quality, Southpoint Tower is among the most prestigious addresses in the district. On behalf of Union Investment, I would like to welcome Virgin Australia to Southpoint. We are looking forward to a long and strong relationship in the years ahead,” said Ulrich Dischler, Head of Asset Management Overseas at Union Investment.
The building was Union Investment’s first acquisition in Australia back in 2014. It is held by open-ended real estate fund UniImmo: Europa.
Source : Union Investment