This article is from the Australian Property Journal archive
FRASERS Property has entered into a new long term lease at Rhodes Business Park in Sydney.
Frasers Property leases 3,720 sqm at Building C, Rhodes Business Park, down by Industria REIT.
The lease was due to expire in August 2016 and Frasers Property has entered into a new seven-year lease commencing in August 2016, upon expiry of their existing lease. Rent reviews are fixed throughout the lease period at 3.50% per annum.
“We have successfully leased over 10,700 sqm since 30 June 2015 significantly reducing the leasing risk in financial years 2016 and 2017, with transactions such as this lease demonstrating the progress our leasing initiatives are delivering and underpinning portfolio and securityholder value,” Industria REIT fund manager Laurence Parisi said.
Earlier this week Frasers Property relocated its Perth headquarters to 1 Havelock St after securing an eight-year lease on the 1,236 sqm office located on the second level.
Australian Property Journal
