Melbourne, 24 June 2014 – Strong tenant demand for small-scale office properties is underpinning increased activity in Melbourne’s sought after business precincts.
CBRE Associate Director, Office Services, Anthony Park said the sub 500sqm sector of the market was accounting for the majority of leasing transactions at present, as demonstrated by two recent deals.
Business consultancy firm Risk Strategies has committed to a four-year term on a 130sqm property at 60 Albert Road in South Melbourne.
Located on the 11th floor of the office tower, the recently refurbished property offers excellent views of the CBD.
Mr Park negotiated the deal on behalf of the lessor, Wharfstreet Investments, for a rental figure in the vicinity of $270 - $300 per square metre.
Further demonstrating the strong level of demand for sub 500sqm office properties is the recent leasing of a 150sqm property on the first level of 480 St Kilda Road.
Sadde Property Group has taken out a two-year term on the property for a rental figure in the vicinity of $270 - $300 per square metre.
Mr Park negotiated the lease deal on behalf of lessor Metropolis Corporate Centre.
For Australian/international news or global stories, follow us on Twitter.About CBRE Group, Inc.
