This article is from the Australian Property Journal archive
DEXUS Property Group’s refurbishment of 385 Bourke St in Melbourne’s CBD has paid off with the occupancy rate increasing to 98%.
A 12-month leasing campaign run by agents Colliers International’s Adam Davy, Milly Stockdale, Andrew Beasley and Tony Landrigan has seen more than 20,000 sqm leased.
Davy said the leasing campaign commenced with around 15,000sqm vacant following the departure of Commonwealth Bank.
“Over the course of securing tenants for this initial 15,000sqm vacancy, another 6,000sqm subsequently became vacant,” he said. “We were able secure several tenants to take up this second offering of space and have since seen the building currently reach over 98% occupancy,”
“The extensive upgrades that DEXUS has implemented throughout this 41-level building have enhanced the appeal of the property. It now offers market-leading end-of-trip facilities, squash courts, an on-site 196-seat auditorium, quality retail and concierge services,” he added.
In the latest deals, Architectus and SAS have each signed eight-year terms. Architectus will lease 980sqm on Level 25 while SAS will occupy the whole of Level 22.
“Architectus Melbourne has experienced substantial growth over the past two years, coinciding with the recruitment of key Melbourne principals,” Barry Aarons, COO of Architectus Group, said.
“I’m pleased to announce this move is in line with our vision for the next decade to continue to expand our operations in Victoria. The new location offers close proximity to SAS’ large and growing base of enterprise and public sector customers,” Tony Timney, Regional Sales Director, SAS Australia, said.
Other recent deals within the building have included:
- Koda Capital: 450sqm, five years
- RedZed Lending: 521sqm, seven years
- Profusion Group: 172sqm,five years
- Huawei:522sqm, five years
- United Energy and Multinet: 267sqm,five years
Australian Property Journal
