A significant investment program in Milton’s Coronation Drive Office Park (CDOP) has attracted new businesses to the growing Brisbane precinct and culminated in a new name, Milton Green.
The office and community precinct, which is located just two kilometres from the Brisbane CBD in the riverside suburb of Milton, is jointly owned by investors in the AMP Capital Diversified Property Fund and Sunsuper. The precinct is managed by AMP Capital.
AMP Capital’s Managing Director of Office and Industrial Real Estate Luke Briscoe said the new design of the precinct has created an environment that delivers an exceptional experience for our tenants, their employees and guests.
“A significant investment of more than $6 million over the past two years has created a precinct where people want to work and play. The capital expenditure program undertaken by the owners has set up the precinct for future growth. Businesses are responding positively with over 4,500sqm leased in 2017 and 2,800sqm already in 2018. We are really pleased to welcome Vodafone (587sqm) and Queensland Tertiary Administration Centre (1,344sqm) who join the precinct later this year,” Mr Briscoe said.
The 51,000 square metre commercial hub includes six commercial buildings and nine retailers. As part of the capital expenditure program, a new outdoor wellbeing space called ‘The Link’ has been created offering regular yoga classes and networking functions as well as a new market leading end-of-trip facility.
In addition, six new food and beverage retailers that offer quality dine-in and on-the-go food and beverage options have opened. A Customer Services Manager has been appointed to create a sense of community and curate weekly events. The precinct offers weekly farmers markets, pop up food trucks, a child-care facility, and public car parking facilities.
Mr Briscoe added: “We wanted to reflect this change with a new name, Milton Green. The suburb of Milton is experiencing a real transformation with great potential and we want to be a part of the area’s growth story. As the precinct offers so much more than just office buildings we felt that renaming to Milton Green would deliver a true sense of belonging to both the business and local community whilst staying relevant in a rapidly-changing market.
“We have further plans to invest throughout 2018 and 2019, including a third spaces outdoor area, additional common areas, gardens and further external spaces for Milton Green customers and visitors to enjoy,” Mr Briscoe said.
Andrew Carlton and Shane Van Beest from Knight Frank and Sam Barr and Alex Cameron from JLL partnered with AMP Capital negotiating both QTAC and Vodafone leases.
While every care has been taken in the preparation of this article, AMP Capital Investors Limited (ABN 59 001 777 591, AFSL 232497) and AMP Capital Funds Management Limited (ABN 15 159 557 721, AFSL 426455) (AMP Capital) makes no representations or warranties as to the accuracy or completeness of any statement in it including, without limitation, any forecasts. Past performance is not a reliable indicator of future performance. This article has been prepared for the purpose of providing general information, without taking account of any particular investor’s objectives, financial situation or needs. An investor should, before making any investment decisions, consider the appropriateness of the information in this article, and seek professional advice, having regard to the investor’s objectives, financial situation and needs. This article is solely for the use of the party to whom it is provided and must not be provided to any other person or entity without the express written consent of AMP Capital.