This article is from the Australian Property Journal archive
THE art deco Carlow House building on Flinders Lane in Melbourne’s CBD is now fully leased after Humanscale and Cargo Advisor snapped up the remaining spaces.
Savills agents Alissa Woods and Charlie Betts negotiated the respective two-year lease terms on behalf of Fivex in the range of $660 to $730 gross per sqm.
Humanscale will move into suite two on level eight at 289 Flinders Lane, and Cargo Adviser into suite three on level four.
Betts said the campaign had received strong enquiry from creative tenants, due to its art deco character with high, exposed ceilings and abundant natural light, as well as corporate companies attracted to central Flinders Lane location.
Woods said pent-up demand for A-grade office space in Melbourne’s CBD was fuelling strong enquiry for B-grade stock.
“The primary office market is seeing high demand, increasing rents and tightening incentives, but we are also seeing this trend filtering through to the secondary market, with strong demand due to falling vacancy rates,” she said.
Carlow House is positioned on the corner of Elizabeth Street, just metres from Fivex’s Riverview House office and retail complex, on which it is currently building a $40 million five-storey tower that will companion an existing 16 level building overlooking the bustling intersection of Elizabeth Street and Flinders Street, opposite Flinders Street train station.
Australian Property Journal
