Small businesses find Brisbane city rents within their reach
Spencer Education is moving from Brisbane’s fringe into the central business district so that its students have better access to what the city has to offer.
The registered training organisation is aiming to open the doors at its new leased premises at 30 Herschel Street later in June, once the fit out – including a commercial kitchen – is complete.
The training provider has leased the fourth floor of the five-storey Brisbane commercial building, which encompasses about 474 square metres.
Spencer Education’s managing director Karl Dudwal said the move from Woolloongabba was principally a commercial decision.
“The way we recruit students is through education agents – it’s a network throughout the world of various countries – but the local agents are mostly in the CBD,” he said.
“In terms of pricing we did a little bit of a homework. Leasing commercial prices in B-grade buildings had really come down substantially and we’re pretty much paying the same as what we would be paying in Woolloongabba. We thought why wouldn’t we move to the city?”
Dudwal said the organisation had previously surveyed its agents and students customers about the types of facilities and locations that were the most important.
The results showed that a move into the CBD would be a wise commercial idea, he said.
“International students want to see the flavour of Brisbane city in the sense of exploring the eateries, the parks, and transport, so it made a whole lot of sense to be in the city,” he said.
“The transport for some students is costly. Because they can only work limited hours … for them every dollar adds up and it counts. There’s good accommodation as well around the CBD.”
Savills CBD office leasing executive Leah Freney negotiated the deal and said the CBD’s superior amenity to the fringe was one of the main drawcards.
The leasing opportunity at 30 Herschel Street was also located within an existing education precinct, she said.
“There were opportunities around there for accommodation as well as shops and transport,” Freney said. “Everything that they needed was centrally located as well as the student agents that were there,” she said.
“With tenants generally at the moment, we’re finding that they want to come to the CBD purely on amenity. There is a lot of space but it’s tightening. It’s leasing very quickly now.”
