Retail leasing deals in the Brisbane fringe

Snap Fitness is opening up a new gym in Sherwood after signing a 5 year lease with a 5 year option at $190,000 per annum.

Snap Fitness was looking to expand their services into the area and found the high exposure location at 689 Sherwood Road ideal.

The 490qm retail tenancy was previously occupied by Joval Group who had to find another location before vacating the tenancy.

Conor Whiting, executive of office leasing at Colliers International who negotiated the leases for both businesses said leasing documents had to be signed simultaneously for the deals to go ahead.

“Joval Group had a year and a half left on their lease and were looking at other options as they weren’t utilising 300sqm of the space at the Sherwood Road tenancy. We assisted them in finding a new location so they could be released from the current tenancy."

“Joval Group's requirement was to downsize and still remain within the fringe location. As a result we found a suitable new 138sqm new tenancy with adequate parking at 47 Park Road in Milton for which they signed a 3 year lease with a 3 year option at $63,900 per annum”, says Mr. Whiting.