Telstra extends lease on 242 Exhibition St

Telstra extends lease on 242 Exhibition St
Telstra extends lease on 242 Exhibition St

Telstra has signed on to stay in its current Melbourne Headquarters on Exhibition Street following a new leasing deal struck for eleven years and five months commencing 2020.

The building, 242 Exhibition Street Melbourne, is jointly owned by Investa Commercial Property Fund (ICPF) and Investa Office Fund (IOF) with Telstra leasing over 63,372 square metres - 59,676 square metres of office space and 3,696 square metres of conference and training areas.

Building upgrades will include a including a $12.5 million lift 
renewal as well as foyer and tenancy areas refurbishment.

Investa Group Executive, Michael Cook said Telstra will remain at 242 Exhibition Street until 2031and would enable Telstra’s innovative Future Ways of Working model to be integrated well before their original expiry date.

 

Tags: 
Commercial Property Commercial Lease

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