Qantas sub-leasing Mascot HQ office space

Qantas sub-leasing Mascot HQ office space
Qantas sub-leasing Mascot HQ office space

Struggling airline Qantas are set to sub-lease half of its Mascot HQ in an attempt to continue to cut costs.

They're trying to get $9 million for the two standalone Bourke Road spaces, offered at $450 per sqm for the 20,000 sqm of space.

Qantas will be retaining the head lease for another 12 years, from the building owners Cromwell Property Group.

The two buildings, part of four which house Qantas staff, have just undergone a full fitout.

One building has 14,690 sqm of office space across six levels, which if leased separately at $450 per sqm would equate to $6.61 million.

There is the option to lease each floor separately.

Qantas sub-leasing Mascot HQ office space

There's just over 5,000 sqm of space in the other two level building next door, will be leased in one line. That would be $2.26 million per annum.

Colliers International agents Michael Crombie and Neil Murray are marketing the sub-lease.

“These are two of the best buildings in Mascot, occupied and recently refurbished to a very high standard for one of Australia’s leading companies, and are now being offered at highly competitive rates of around $450 per sqm gross effective rent,” Mr Crombie said.

“We are seeing an increasing number of Sydney CBD and fringe tenants looking at South Sydney as a great alternative, we still have incredible access to rail and amenities, yet the rent will be the major selling point, especially when occupiers see the quality of this fit out. 

Colliers have also listed for sub-lease 2,000 sqm of space in Melbourne's 333 Collins Street, as well as 1,500 sqm at the Qantas Premium Contact Centre in Hobart.

 

 

 

 

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

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