U/C» Matisse Tower: (24F/103m/Office)

[SoulVision]

^ Right I see... That is quite interesting that they've strata titled them! good idea if you ask me. If you can, renders would be awesome FYI!

[Locke]

Looks like sales are going well

Strata office space booms
4 May 2007 - The Courier-Mail

As office rents skyrocket in the CBD more users are looking to the strata market

STRATA office spaces are finally commanding big prices in a market which was once very cold on the alternative to renting.

Presales in new A-grade strata properties are achieving record prices according to marketing agents.

Dominic McSweeney of Chesterton International who is marketing the yet to be built A grade strata building, Icon Place, said the asking price of $8200/sq m was being achieved.

Mr McSweeney and Paul Noonan of Jones Lang LaSalle took seven floors in the 270 Adelaide St building to the market and all have been snapped up.

Once complete the building will feature 19 levels of office space including a ground floor.

Mr McSweeney said prices would be reset now for the remainder of the building with other floors to be offered to the market in the coming weeks.

Mr Noonan said as office rents skyrocketed in the CBD more users were looking towards the strata market.

He said owning space gave business certainty and security. Business professionals and small law firms had shown strong interest in the property.

Meanwhile, industry sources report good sales figures in the Matisee tower proposed for 110 Mary St.

Speculation is that a number of deals have been done in the property, with prices between $7500/sq m and $11,000/sq m being achieved.

Artisan Property Partners which is developing the property and Rick Bird of Ray White Commercial who is marketing the space declined to comment.

Insight Property Group director Rod Colwell confirmed his organisation had bought a space in the tower but declined to comment on the price.

He said buying strata space provided certainty and alleviated any concerns about rising rents.

Dan Palmer of CB Richard Ellis said historically strata office space had not been embraced as well in Brisbane as in southern states.

"Now we are starting to see a lot of smaller owner-occupiers and investors looking at this type of investment," he said. "It has become a viable option."

[FYI]

Yeah, its rockin. Only 3 Tower levels and the podiums left. Good quality Strata is so under-utilised in Brisbane, it's no wonder this things flying.

[Locke]

Wow, impressive. Well I could see the attraction with the way rent prices are going!

[KJBrissy]

Latest photo. The sign says that the access to the food court has been closed for construction.