This article is from the Australian Property Journal archive
BUSINESS software company, MYOB, has signed the largest suburban office lease in Melbourne, taking over Centro Retail's headquarters at the Glen shopping centre in Glen Waverley.
Centro is moving to Collins Place at 35 Collins St, leasing 2,200 sqm. CBRE’s Chas Keogh introduced Centro to its new CBD premises.
CBRE’s Richard Height and Anthony Park negotiated MYOB’s 10-year lease which encompasses 5,032 sqm of space.
MYOB is currently located in Burwood East and had conducted an extensive search of suitable premises in Melbourne’s fringe and south eastern suburbs before committing to the 235 Springvale Rd premises.
The floor is situated at Centro The Glen above the David Jones department store.
MYOB CEO Tim Reed said the company chose The Glen as its new head office due to the enviable floor space, the exceptional amenity the shopping centre environment would provide to staff and the close proximity to the Glen Waverley train station and bus depot.
“We have worked hard over the past couple of years to build upon our constructive company culture. The opportunity to further this by accommodating 500 or so Victorian staff on a single floor was highly appealing. So too were the convenient public transport links and the amenity of a first class shopping centre such as The Glen.
“Our team will also be pleased to hear they are moving only a short distance from our current Tally Ho Business Park address,” Reed said.
Centro CEO Steven Sewell said the MYOB lease will not only secure solid income over the long term but it is also expected to result in a lift for retailers in the centre given the increase in numbers of customers who will be working on site.
CBRE’s Richard Height and Anthony Park represented Centro Retail while Matt Foldes of APP Corporation acted on behalf of MYOB.
“A single well fitted floor plate in Glen Waverley was always going to attract the interest of corporate tenants seeking significant space in the south east,” Height said. “MYOB recognised this and were keen to secure the premises on a long term commitment.”
Property Review
