Box Hill Office Vacancy Tumbles

Major tenants to lease office space recently include diesel engine group Cummins, which leased 2000 sq m at 15 Prospect Street; Synchronised Software, which leased

1445 sq m at 19 Prospect Street, and FRM Management, which leased about 927 sq m at 26 Prospect Street.

Colliers International leasing manager Travis Myerscough said Box Hill established itself as a major office market in the early 1990s and measured about 132,315 sq m.

He said the recent sharp drop in vacancy had contributed to a jump in office rents from an average $215 a square metre last year to $240 a square metre today.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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