Target Signs Major Office Lease in St Kilda Road, Melbourne

RETAIL giant Target has leased 4462 square metres of office space on Melbourne city-fringe office market, St Kilda Road.

The Wesfarmers controlled group chose the building because of its proximity to the CBD and Flinders Street train station.

St Kilda Road office tenants have criticised (and vacated) the area which is only serviced by train. At it’s peak St Kilda Road had more than 800,000 square metres of available office space, but no developer has proposed a new office in more than ten years.

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Spotless Group Leases Entire St Kilda Road Office Building, Melbourne

SPOTLESS Group has leased an entire St Kilda Road office building, and will relocate its headquarters from the Melbourne CBD.

The cleaning services and management company, currently based at 350 Queen Street, has leased about 9200 square metres at the 549 St Kilda Road building previously known as AIG House.

The rent Spotless will pay has not been disclosed, but industry sources speculate it circles about $250 per square metre, per annum, before incentives (a lure usually offered in the way of a fit-out, or rental discount). This is low compared to the CBD, Southbank and Docklands.

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Surge in Chinese Visa Applications Prompts St Kilda Road Office Lease

Belgian Beer CafeA SURGE in the number of Chinese visa applications has forced the Chinese Embassy to lease new offices specifically for the Chinese Visa Application Service Centre division.

The department will now be based at 570 St Kilda Road after signing a six year lease for almost 500 square metres of ground floor space.

The Chinese government will pay a starting rent of $240 per square metre, per annum to occupy the A-grade, 8-level office, opposite the popular Belgian Beer Cafe Bluestone and Wesley College.

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Cheap Rents Drive St Kilda Road Office Leasing Activity

St Kilda RoadSEVERAL major office lease deals have been signed in St Kilda Road, in what is hoped will bring down vacancy from dangerous new highs recorded earlier this year.

The biggest deal is to Fujitsu Australia Limited, which will lease 25 car spaces and 3131 square metres over three levels at 570 St Kilda Road.

Fujitsu staff will relocate from offices in the CBD and at its prominent 1230 Nepean Highway office in Cheltenham.

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