Central location, quality building and a strategic leasing strategy have underpinned a strong result at 167 St Georges Terrace in Perth.
Elmo Software has signed a three-year lease over a fifth-floor office in the building, after having to quickly relocate from its previous address at 189 St Georges Terrace.
CBRE’s Lachlan Lewis and Colin Gilchrist negotiated the 160sqm lease for a commencing gross rental of around $700 per square metre with a market incentive.
Previously used as building management’s office, the space underwent a speculative fit out, which saw the suite leased to Elmo Software within weeks of completion.
“The owner committed to a higher specification speculative fit out, and the strategy paid off by minimising the letting up period,” Mr Lewis said.
Mr Gilchrist added: “The Elmo deal was the second in as many weeks, with Fifo Capital securing a Brookfield Place-fronting tenancy, higher up the building.”
Elmo Software has signed a three-year lease over a fifth-floor office in the building, after having to quickly relocate from its previous address at 189 St Georges Terrace.
CBRE’s Lachlan Lewis and Colin Gilchrist negotiated the 160sqm lease for a commencing gross rental of around $700 per square metre with a market incentive.
Previously used as building management’s office, the space underwent a speculative fit out, which saw the suite leased to Elmo Software within weeks of completion.
“The owner committed to a higher specification speculative fit out, and the strategy paid off by minimising the letting up period,” Mr Lewis said.
Mr Gilchrist added: “The Elmo deal was the second in as many weeks, with Fifo Capital securing a Brookfield Place-fronting tenancy, higher up the building.”
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
