This article is from the Australian Property Journal archive
VODAFONE has renewed its lease at the ANZ Rabinov Property Trust owned property at Strathfield in New South Wales.
Vodafone has renewed its lease to the entire building at 2 Raw Square, Strathfield for seven years commencing on April 30 2008. The telco first leased the property in 1996 for 12 years with one 10 year option.
The suburban office building comprises 3,847 sqm of space and 50 car spaces and was last valued at $11.6 million by Jones Lang LaSalle.
Managing director Ronald Serry said he was delighted to have secured the continued occupancy of such a high quality tenant as Vodafone.
“The decision of Vodafone to renew its lease follows the recent decision by the Commonwealth of Australia to renew its lease for 5 Langford Drive, Elizabeth, South Australia for a period of three years.
“Following an increase of approximately $10.46 million in the valuations of six of the properties in the portfolio of the ANZ Rabinov Property Trust, these new lease commitments is further confirmation of the trust’s investment philosophy; being the acquisition of properties throughout Australia, leased to well known credit worthy tenants, under long-term lease arrangements and preferably with fixed annual rental increases,” Serry concluded.
Australian Property Journal
