Commercial leasing: Watch this space
The amount of space that Holding Redlich will lease as anchor tenant of the St James office project being developed by the Juilliard Group in the Melbourne CBD. The law firm has committed to lease the top two levels of the 555 Bourke Street building together with a portion of the ground floor. The deal, which was brokered by CBRE regional director of office services Hamish Sutherland, will provide Holding Redlich with a dedicated entry and lobby space. The Juilliard Group hopes to achieve a five-star NABERS rating for the project.
The number of years it will take property developer Dexus to fully lease its recently completed 1 Bligh Street tower in the Sydney CBD, according to Bank of America Merrill Lynch analyst Simon Garing. The 27-storey tower features floor plates measuring 1,600 square metres and is 44% vacant, according to a recent Dexus ASX filing. Its major tenant is law firm Clayton Utz. The office tower is advertising rents around $650 per square metre and was recently valued at $629 million. It is the first high-rise office building to win a six-star rating from the Australian Green Building Council.
The amount of gross floor space available for lease at 36-40 Gurwood Street in the northern section of Wagga Wagga’s CBD. The building, which was formerly tenanted by IT communications company Salmat, commands a large street frontage of 43 metres and is owned by the Wagga Wagga City Council. Leasing agent for the property, Jill Toohey, principal of Knight Frank Wagga Wagga, says the property lends itself to use as a contact centre, general office space or retail space.
The annual rent that grout manufacturer Pavex Davco will pay to lease a warehouse with office attached at 73-75 Licola Crescent, Dandenong, in a deal negotiated by Crabtrees agent Tony Aminian in the Dandenong industrial precinct, south east of Melbourne. The lease covers 3,848 square metres of building and is for seven years with a further seven-year option. Annual rental increases at 4% are fixed in the lease. Aminian says demand for industrial and commercial space in the Dandenong and adjoining industrial precinct remains healthy.