This article is from the Australian Property Journal archive
DEXUS has leased over half of the space at 240 St Georges Terrace in Perth’s CBD that Woodside will vacate, after securing the signatures of engineering and technical services firm Wood Plc and Macquarie Bank.
In the larger deal, Wood has leased 9,198 sqm of space across levels 1-4, with the lease commencing February 2019.
Financial services giant Macquarie Bank has agreed to 3,311 sqm of space on the top two floors of the building, with the lease commencing July 2019.
As a result, Dexus has now leased approximately 22,870 sqm of the office space that Woodside will vacate in December 2018, resulting in 51% of the building being now leased.
Dexus has started works on giving 240 St Georges Terrace a facelift, including a new street entry, end-of-trip facilities, and an improved retail offering.
On-floor upgrades have commenced creating smart, efficient and flexible workspaces.
Dexus head of office & industrial leasing Chris Hynes said the lease provide further evidence of improving market fundamentals flowing through to leasing activity.
“We’ve been able to capitalise on improving economic and market fundamentals as we reposition the building. Western Australia is shrugging off the impacts of the mining downturn and we are certainly seeing more optimism from the broader business community,” Hynes said.
Australian Property Journal
