This article is from the Australian Property Journal archive
DEXUS Property Group has retained accounting services firm PKF East Coast Practice as a major tenant at the 1 Margaret St office tower in Sydney.
As part of the deal, PKF East Coast Practice’s Sydney office will move from the mid-rise to the low-rise section of the tower to gain the benefits of contiguous space and will retain signage rights for one of the landmark properties in Sydney’s western corridor office market.
Dexus Property Group CEO Darren Steinberg said the existing lease was due to expire in June 2015, however early discussions have resulted in the lease being extended until 2025 across 6,756 sqm on competitive market terms.
“This outcome has been achieved due to our team’s strategic focus on managing upcoming lease expiries.
“This active approach to addressing upcoming lease expiries is backed by our expertise in working closely with tenants to achieve a flexible solution for contiguous space and long term security of tenure,” he added.
Built in 1984 and located in the western corridor of the Sydney CBD overlooking Darling Harbour, the 18 levels A grade office building comprises approximately 20,800 sqm of space and three-level parking for 103 cars. The building is 100% leased and has a 4.5 Star NABERS Energy rating.
Property Review
