Quintessential Equity sign additional lease to expand Lane Cove West office
Melbourne-based unlisted property fund manager, Quintessential Equity, has leased a further 13% of its office building in Sydney's Lane Cove West, taking it to near fully occupancy.
Quintessential Equity purchased the 166 Epping Road property last April when it was just 80% occupied.
Following the recent leasing to a joint venture between Downer EDI Works Pty Ltd, a subsidiary of ASX-listed Downer EDI Limited, and Mouchel International (Jersey) Limited, a major international infrastructure and business services group - just two% or 161 square metres of the building is now vacant.
Quintessential Equity director, Shane Quinn, said the additional lease agreement was a
positive result for investors in the Trust and demonstrated the success achieved through
proactive management by the company.
"Since we settled 166 Epping Road, we have made steps towards significant enhancements to the property, aiming to attract new tenants".
“We have enhanced the presentation of the space and worked with leasing agent specialists in the Lane Cove area to encourage new tenants to preview the refurbished office building".
The five level commercial building has three levels of office accommodation with a total net lettable area of about 7,129 square metres as well as two levels of basement car parking with 235 individual car spaces.