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IBM is moving its staff to the outer suburbs, joining a growing list of major tenants - among them Australia Post and Telstra - that are moving away from city buildings.
The IT giant is believed to have leased about 4000 square metres of office space at the former Simplot building at 1279 Nepean Highway Cheltenham. Sources say the building will accommodate an IBM data centre, and that it will relocate staff currently based in offices on the city fringe.
The Cheltenham building is the second major office lease signed by IBM this year. Having outgrown its City Road Southbank headquarters, IBM was forced to lease 3300 square metres of space formerly occupied by the Australian Wheat Board at 380 LaTrobe Street and move in immediately. It also occupies space at 300 LaTrobe Street.
Kelly & Kelly director and leasing agent Gordon Kelly confirmed the Cheltenham deal when contacted by Capital Gain, but refused to disclose the rental IBM will pay. However earlier this year, space in the prominent building was being marketed at about $250 per square metre.
A spokesman for IBM failed to return Capital Gain’s calls.
Last week, Australia Post confirmed it had leased 4000 square metres of office space at a recently vacated office building in Mount Waverley, while earlier this year Telstra announced it would pre-commit a 40,000 square metre office building at Clayton.
Like IBM, Australia Post and Telstra will relocate employees currently working in the CBD and city fringe to the suburbs, where rents are considerably cheaper.
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