GPT May Lose Major Tenant at Collins Street Building

There’s more bad news ahead for General Property Trust, with another tenant wanting out of the former Australian Stock Exchange building at 530 Collins Street.

Law firm Allens Arthur Robinson has issued a requirement for 13,000 square metres of office space, once its lease at 530 Collins Street expires in 2012. The group currently occupies 12,848 square metres at the premium grade building.

MPS Corporate Property Advisors director Steve Urwin (sub note: spelling checked), who is handling the expression of interest campaign, said selected parties would be invited to lodge detailed financial proposals in the next few weeks. He would not comment on a preferred location but said the high-profile firm was expected to stay in the CBD.

This is contrary to other well placed sources, which say Docklands is very much an option for the law firm.

AAR is the second biggest tenant in the building after the ANZ Bank, which occupies around 30,000 square metres. In 2010, ANZ will leave the building for its new headquarters at Docklands, leaving GPT will another substantial vacancy to fill.

News service AAP left 530 Collins Street last year for refurbished offices at 250 Victoria Parade, while the Australian Stock Exchange moved to the Rialto.
Several gaps at 530 Collins were plugged by The Port of Melbourne, St George Bank and the Trust Company of Australia.

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