More Office Leasing in Hawthorn

Tenants wanting to lease more than 1000 square metres of space in Hawthorn may be forced to look at the plethora of new office buildings under construction, after a string of leases soaks up what limited existing office space is left in the eastern suburb.

Japanese printing firm Kyocera Mita has leased 520 square metres at 192 Burwood Road in Hawthorn, joining confectionary company Mars’, which recently leased about 320 square metres in the same building.

In another transaction, accountancy firm Lockwood & Co leased 345 square metres at 447 Auburn Road, Hawthorn East.

Knight Frank leasing agent Peter Soumilis, who leased the property with Michael Simonds, declined to elaborate on the rents the tenants were paying but said industry averages are between $250 and $265 per square metre.

He said the biggest block of contiguous office space in the immediate Hawthorn area measures just 970 square metres, and that office vacancy levels are less than 3 per cent.

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