This article is from the Australian Property Journal archive
CO-WORKING space provider WeWork has leased nine floors of office space totalling 6,291 sqm at 401 Collins St.
The asset is owned by Impact Investment Group (IIG) which is working with the current tenant, Roy Morgan Research (RMR), to vacate the building in mid 2017 – well ahead of its lease expiry.
The tenancy was the subject of a long running dispute between RMR and the Libermans-backed IIG, culminating in the Supreme Court of Victoria ordering RMR in May last year to pay IIG, $730,000 in rental arrears.
In December 2015, IIG locked out the tenant.
RMR has called 401 Collins St its home for over 20 years.
It sold 401 Collins St in 2014 for $32 million and leaseback the office building for 10-years.
WeWork’s managing director, Asia Pacific, Ole Ruch, said “Melbourne is home to startups, big businesses, and creative entrepreneurs pioneering innovation across industries old and new.”
Australian Property Journal
