DEXUS secure new Chatswood lease with Lend Lease

DEXUS Property Group has secured a new lease with Lend Lease Business Services across more than 3,000 square metres at its The Zenith building in Sydney's Chatswood. 

The lease, at 821 Pacific Highway, extends Lend Lease's occupancy in the building to more than 7,300 square metres.

Dexus general manager of office and industrial for office and industrial, Kevin George, said combined with its tenancy at 30 The Bond, Lend Lease occupied more than 24,000 square metres across its Sydney office portfolio.

“Our active leasing approach and leveraging of tenant relationships has resulted in the leasing of almost 10,000 square metres at The Zenith over the past five months, increasing occupancy to over 95% and the
weighted average lease expiry to 4.2 years," he said. 

The Zenith is managed and 50% owned by DEXUS, with the GPT Wholesale Office Fund owning the remaining interest.  

Dexus and partner The Canadian Pension Plan Investment Board is close to clenching 100% control of the $3 billion Commonwealth Property Fund. 

Recent leasing at The Zenith includes:

• Lend Lease Business Services new lease across 3,120 square metres adding to Lend Lease Abigroup Limited’s existing tenancy across 4,225 square metres
• Government Property NSW - Transport’s new lease across 2,116 square metres, growing its tenancy to 8,437 square metres
• Government Property NSW - Health Share’s recent long-term lease renewal across 4,646 square metres.