This article is from the Australian Property Journal archive
VANTAGE Property Investments’ decision to reposition an office at 11 Queens Rd in the St Kilda Rd precinct has paid off.
Colliers International’s Matt Cosgrave and Vincent Tran, in conjunction with CBRE’s Josh Jenning and Caitlin Murdoch, have negotiated multiple leases at the new-look building situated within the ever popular St Kilda Rd precinct.
“Having purchased the building in mid-2014, Vantage has now filled almost all of the vacancy within the building,” Cosgrave said. “The re-positioning of 11 Queens Rd has made it an attractive option for many businesses who may have previously limited their search to the more high profile St Kilda Rd boulevard,”
The leasing deals include:
– Mont Blanc: 600 sqm
– Presence of IT: 450 sqm
– Incomm: 300 sqm
– John B Prescott: 170 sqm
– PRGX: 275 sqm
“The fact that 11 Queens Rd is nearing 100% occupancy also demonstrates the tightening we are seeing in this market, where the vacancy rate now sits at 7.8%. It is the latest in a string of buildings in this precinct to have reached close to or full capacity after doing significant refurbishment works, including 390, 636,580 and 468 St Kilda Rd,” Tran said.
Australian Property Journal
