Gemba relocates to town
Gemba, with its accelerator program, Tenka, is the latest mid-size business to relocate to the CBD from the fringe.
The sports and entertainment strategist has committed to 365 square metres, being the first level, of the historic Carlow House at 289 Flinders Lane, on the south east corner of Elizabeth Street (pictured, top).
Starting gross annual rent for the renovated space is $690 per sqm ex-incentives.
The initial lease term is five years.
JLL’s Sam Friend and Hannah O’Brien with Colliers’ Izabella Minas were the agents.
The deal comes a year since Rodd & Gunn committed to 540 sqm in the nearby Manchester House at 234 Flinders Ln for its headquarters.
It relocated from High St, Prahran.
Period charm a factor: agent
Gemba will move from the 19th floor of GPT Group’s 2 Southbank Boulevard, Southbank (story continues below).
Carlow House, which also goes by the address of 34-36 Elizabeth St, is owned by the Berger family’s Fivex, which paid $19m in 2008.
Containing 3400 sqm over 10 levels, it once accommodated a Crazy Horse adult theatre.
“Renowned for its period charm and central location, Carlow House offers tenants a real point of difference for businesses looking to stand out,” Mr Friend said of the building today.
The property is walking distance to the Degraves St restaurant strip and Flinders Street Station.
It also neighbours the historic Tomasetti House, 277-279 Flinders Ln, which Justin Hemmes’ Merivale acquired in 2021 with plans to occupy.
At $43m, that was the Sydney publican’s first Victorian purchase.
Colliers’ Daniel Wolman, Oliver Hay and Matthew Stagg were the agents.
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