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THE tenant representative acting for Commonwealth Bank of Australia has issued a new CBD office leasing requirement, replacing two other require-ments it put to the market late last year.
A memo circulated by GVA Grimley to agents last month says the bank is now seeking between 25,000 square metres and 30,000 sq m of new, or existing A-grade space in the CBD. The space must be ready for occupation by March 2009, when CBA's 22,000 sq m lease at 385 Bourke Street expires.
The requirement replaces one released in October last year, requesting developers and agents submit proposals for one of two leasing options - the first for between 25,000 sq m and 33,000 sq m, and the second for between 15,000 sq m and 20,000 sq m.
Like rival bank Westpac which also put feelers out to the market last year, CBA has delayed making a decision about its future accommodation, sparking speculation that - like Westpac - it is negotiating with its existing landlord ways to stay put.
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