Spate of leasing deals at refurbished Drummoyne building

A spate of leasing deals has bolstered the vacancy rate in a newly refurbished building in Sydney’s Drummoyne to nearly 70%.

MRA Consulting recently secured 107 square metres of office space in the 19 Roseby Street building, while Accountancy Insurance signed a five year lease for 214 square metres of office space.

The deals were negotiated at about $420 to $450 per square metre gross.

CBRE senior negotiator for commercial sale and leasing Nick Sinclair said a further 1,032 square metres of space was under offer to seven tenants, leaving just 100 square metres of vacancy.

Since January, about 2,400 square metres of office space has been leased in the building. The latest two leasing deals take the vacancy in the building to just fewer than 70%. Renovations were completed in August.

The largest deal done in the Roseby Street property this year was the leasing of an 830 square metre office space to Redcape Hotel Group, who relocated its head office to the building, said Mr Sinclair.