BMW Australia Finance take Mulgrave Office Park tenancy

BMW Australia Finance take Mulgrave Office Park tenancy
BMW Australia Finance take Mulgrave Office Park tenancy

BMW Australia Finance Limited (BMW AF) has taken a tenancy in the final stage of Mulgrave Office Park located in the Monash precinct in Melbourne’s South East. 

The park is jointly owned by Frasers Property Australia (formerly known as Australand) and Commercial Industrial Property Group (CIP).

Situated at 211 Wellington Road, the three hectare business park will create over $145 million in commercial office assets when completed in the third quarter of 2016.

BMW AF has secured the top two and a half floors of building C comprising 4,792sqm and 290 car bays over a five year period with two options to extend for a further five years.

The building also includes 5,353sqm of speculative office space, a 150sqm café and an additional 308 car spaces over another two and a half levels.

The new building is valued at $51 million.

Anthony Maugeri, general manager southern region C&I for Frasers Property said tenants have welcomed the 5 star green star initiatives, an end to end development platform, internal construction capability, pre- approved master planned permits, integrated fit-outs, affordable rental rates and high car space ratios.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

Tags: 
Commercial Lease Commercial Tenancy

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