Revenue generated by licensed pubs, hotels and entertainment venues following the introduction of indoor smoking bans has dropped between 6 to 8 per cent, in the first weeks following its July 1 introduction.Read more
MELBOURNE’s iconic Rialto building is facing a vacancy blow-out of almost 20 per cent, with major tenant Telstra refusing to confirm it will stay in the office beyond the next few months.
The announcement comes as two restaurateurs confirm they are considering retail space within the landmark building.
Sources say the privatised telecommunications giant, which was told by the Rudd Government last month it may need to separate its wholesale and retail businesses, is considering vacating the approximate 16,000 square metres it occupies of the 84,700 square metre glass office, which upon completion in 1986 was the tallest city building in the southern hemisphere.
“We have a lease that expires in April 2010,” a Telstra spokeswoman told The Age. “We intend to continue to occupy the space until that time.”