This article is from the Australian Property Journal archive
MELBOURNE's suburban railway network operator Metro Trains has signed a long-term lease at Cromwell Property Group's 700 Collins St office tower.
As previously reported by Australian Property Journal, Metro Trains signed a 10-year lease with five-year option for 7,577 sqm of office space, occupying three floors and 56 car parks from 1 March 2015.
Cromwell director of leasing Bobby Binning said the leasing agreement was further evidence of the success of Cromwell’s program to reposition the building. The refurbishment is expected to be completed in March.
“We are pleased that our efforts have helped to attract a tenant of the quality of Metro Trains,” Binning said.
The leasing deal is a major coup of Cromwell, which has shrugged off the loss of ASX-listed health insurer Medibank to Cbus Property’s 720 Bourke St last year, creating 12,500 sqm of backfill space in the 33,848 sqm building.
There is still some 7,000 sqm of vacant space remaining in the building. The Bureau of Meteorology is currently the major tenant, occupying approximately 16,000 sqm.
Australian Property Journal
