Siemens, Stack sign Cremorne leases
360 Capital FM Limited and Alfasi Group have secured two more tenants to a five year old Cremorne office.
With the five year deals – to Siemens Energy for 1269 square metres on the second storey and Stack Infrastructure, for 1039 sqm on level six – the 10 floor building at 510 Church Street is 93.2 per cent occupied.
Stack will fill part of a space to be surrendered by advertising giant Dentsu (this occupier will also pay Stack a surrender payment next financial year).
Its lease starts in July.
The agreement includes fixed four per cent annual rent rises.
Siemens’ rent will rise 3.75pc per annum (continues below).
360 bought its 50pc interest for $135m in 2022 from a former Irongate portfolio taken over by Charter Hall and Dutch pension fund PGGM
The stake has been held in the 360 Capital REIT.
Colliers’ Travis Myerscough and Tom Rothel are the leasing agents.
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