Box Hill Office Vacancy Tumbles – realestatesource https://www.realestatesource.com.au Commercial and residential property news Sun, 19 Oct 2008 11:39:55 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png Box Hill Office Vacancy Tumbles – realestatesource https://www.realestatesource.com.au 32 32 Box Hill Office Vacancy Tumbles https://www.realestatesource.com.au/box-hill-office-vacancy-tumbles/ Sun, 19 Oct 2008 11:39:55 +0000 http://realestatesource.com.au/wordpress/box-hill-office-vacancy-tumbles.html Box Hill's office leasing market has been bubbling, with Colliers International research showing vacancy is just 3.92% - a far cry from its 18% peak in 2004.

]]> 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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