London Stock Exchange listed IT provider Seeing Machines has leased part of the historic ex-National Australia Bank building for its local headquarters.
The driver monitoring product and software creator has leased 2340 square metres at 271 Collins Street for an undisclosed initial term.
Rent too hasn’t been revealed, though refurbished space in this part of town asks over $650 per square metre, per annum, according to sources.
Seeing Machines, represented by Tenant CS’ Matthew Pollak, will relocate its local operations from 160 Oxford Street, Collingwood.
Major CBD lease deal
Founded in 2000 – a partnership with the Australian National University and Volvo Technological Development – Seeing Machines’ global headquarters is in Canberra’s Fyshwick.
It also has offices in Europe, Japan and the United States (story continues below).
Fitzroys’ Phillip Cullity and Stephen Land with Colliers’ Michael Darvell and Milly Stockdale brokered the deal for 271 Collins St which in 1930, the year after it was completed, was voted one of Melbourne’s two most handsome buildings.
The landlords, Gabor and Roni Hubay and Ada Kornhauser paid NAB $50 million in 2001, later revamping it with multi-level retail and recently, with high-end office space.
Earlier this year the City of Melbourne leased 1100 sqm for a 100-seat studio it will offer creative small businesses for $250-$450 per sqm, pa.
The bulk of the proceeds for that rental agreement came from the $200m Melbourne City Revitalisation Fund.
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