Traffic Camera Operator Serco Needs More Space

Serco, which occupies around 2500 square metres of space in several CBD office buildings including 535 Bourke Street, is looking for a further thousand square metres in the CBD.

The space needs to be fitted and ready for occupation by late October, when it picks up the lucrative contract from Tenix Solutions.

Coincidentally, Tenix Solutions was in the same boat as Serco four years ago. It needed to find fitted out space urgently, and committed to the 10,000 square metre 277 William Street office building, because of a lack of options.

Any chance Tenix Solutions might sublet part of its office space to Serco, has been ruled out.

A Tenix Solution spokeswoman said that despite losing the traffic camera contract, it manages another $330 million contract for the government, and needs all the space it has until 2015.

Serco Marketing business development director David Loutit said the group is not finding the CBD office leasing market tight, and expects to make a decision about leasing a new building, shortly.

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco

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