National real estate network @realty, which has recruited 500-plus agents in four years and sold $861 million in property last year, is set to make the move to 50 Cavill Avenue in Surfers Paradise to further expand its business.
@realty currently leases 185sqm in the Surfers Paradise Gateway building on Appel Street, but from October 1 will more than double its floorspace by taking up 400sqm in the iconic 50 Cavill Avenue building on a five-year lease with options.
@realty is expected to more than double the number of staff working at its headquarters as it brings its Information Technology team in-house, to further the development of its bespoke software systems.
Director JJ Taylor says the move is in line with plans to build on @realty’s unique business model, which is centred around its highly connected team of agents who work remotely across Australia.
“@realty is different to other real estate groups in that we have just one national office and no regional offices – all of our agents choose where they work and they are supported by our executive team and our custom-built @realty software,” he said.
“Our technology is really what sets us apart and it’s a driving factor behind our move. We want to bring our IT team in-house so we can work more closely with them to develop new systems to give our agents and clients every possible advantage.
“We already have a national database which cross-checks all @realty listings against prospective leads, so @realty vendors technically have 500 agents working for them as we don’t segregate our listings based on location like other agencies do.
“The next step for us is to build in a client portal, so vendors and purchasers will ultimately be able to see all activity relating to their property and there is complete transparency for all customers.
“We have a busy and exciting 12 months ahead, so we wanted to make the move as seamless as possible, which is why we have opted to stay in central Surfers Paradise. We chose 50 Cavill Avenue because it is a landmark building and provides us with the opportunity to spread our wings and really accelerate @realty’s growth.”
CBRE’s Director of Office Leasing Nick Selbie, who negotiated @realty’s lease at 50 Cavill Avenue, says the A-grade commercial tower will be at 93 per cent occupancy once the real estate group moves in.
He says @realty will pay $390 per sqm net plus outgoings.
“@realty have secured about two thirds of level 11, which offers expansive ocean, hinterland and river views,” he said.
“There has been an uptick in interest in 50 Cavill Avenue following a recent $10 million refurbishment by new owner GDI Property Group which included new chillers, six high speed destination lifts, end of trip facilities and a recently launched conference and co-working space.
“Prior to the acquisition, refurbishment and new leasing program, the building was around 70 per cent vacant.
“@realty will join a number of major tenants at 50 Cavill Avenue including Channel 9, Mantra, Dental Partners and Regus.”