This article is from the Australian Property Journal archive
CROMWELL Property Group has put the no vacancy sign up at 243 Northbourne Avenue, Lyneham ACT after signing two leases.
SMEC, a professional engineering consultancy firm, has taken a 7-year lease over 1,043 sqm on Level 1 of the four-storey office building and 32 car parks from 1 January 2011.
Meanwhile information technology giant Oracle, has renewed its lease over 1,121 sqm on Level 3. Oracle has also taken over the naming rights for the building.
The new leases represent over 25% of the building and mean the property is 100% leased.
Cromwell said this is a significant achievement in light of Canberra’s 13.4% vacancy rate recorded by the Property Council of Australia’s latest Office Market Report.
Located 2km north of the Canberra CBD, the Oracle Building is a modern A grade commercial office complex constructed in 1997. The property boasts a 4.5 Star NABERS Energy rating and DDA (Disability Discrimination Act) credentials.
Australian Property Journal
