Virgin Blue Seeks Sale Leaseback of Brisbane HQ

Jones Lang LaSalle Web Site - October 16, 2009

Jones Lang LaSalle has been appointed to provide tenant representation and transaction management services for the Virgin Blue property portfolio in Australia, New Zealand and the South Pacific Islands.

The three-year contract appoints Jones Lang LaSalle, Corporate Solutions, to handle all real estate transactions for the entire Virgin Blue property portfolio in the Asia Pacific region, which is made up of 144 individual leases, licences and owned assets.

This includes 131 in Australia, eight in New Zealand, and one each in Fiji, Vanuatu, Solomon Islands, Rarotonga and Papua New Guinea.

The first project for Jones Lang LaSalle will be to manage the sale of ‘Virgin Village’, Virgin Blue’s Brisbane Headquarters located at 56 Edmonstone Road, on a sale and leaseback arrangement.

The one-year-old campus style headquarters is made up of three buildings totalling 13,220 sqm net lettable area. ‘Virgin Village’ currently houses approximately 1,000 Virgin Blue employees. Virgin Blue will continue to occupy the entire campus.

Tony Wyllie, National Head, Corporate Solutions for Jones Lang LaSalle, said, “This important contract further strengthens Jones Lang LaSalle’s position in the Asia Pacific market as the only service provider that combines transactional expertise, facilities management with national, regional and global capabilities for clients.

“As part of a tailored corporate real estate solution for Virgin Blue, our specialist property services will support Virgin Blue’s core business and allow them to continue to focus on what they do best for their customers, as we use our expertise to make maximum use of their property portfolio,” he said. Sphere: Related Content