West Gate Tunnel Authority, Aware Super sign Melbourne office leases
LaSalle Investment Management has secured the state government to a Docklands office.
The West Gate Tunnel Authority has leased a 3010 square metre space over multiple floors at 380 Docklands Drive, for the builders, CPB and John Holland.
The fully fitted area was marketed by Cushman & Wakefield’s Edward Maas, Vincent Tran and Jake Patterson, with Knight Frank’s Adam Jones and Michael Nunan.
The WGTA is based at 180 Lonsdale Street, in the QV complex.
LaSalle backed by German pension fund Bayerische Versorgungskammer paid Fitzpatrick Investments c$80 million for the 11 storey Docklands tower, near the north west tip of the city, in 2015.
Charter Hall fills more of 555 Collins Street
Meanwhile, in the CBD, Charter Hall has committed Aware Super, formerly known as First State Super, to 8000 sqm at 555 Collins St, which is under construction.
The deal will see the tenant, which last year merged with VicSuper, consolidate three city locations and lower its overall occupancy.
Colliers’ Edward Knowles brokered the lease for the six high rise floors (story continues below).
“We’re pleased that consolidating our…Melbourne CBD addresses into one exciting new development will also bring significant savings to our business over the term of the lease, which is a great result for both our members and our people,” Aware group executive, People & Workplace, Steve Hill, said.
“We’re strong believers in the value of a physical workspace – and our people agree,” he added.
“While the future will see us continue to embrace a hybrid model of working, the reality is that enabling our Melbourne team to be physically together as part of their working rhythm is good for our people, our culture and ultimately the outcomes that we can provide for our members and clients,” according to the executive.
Charter Hall has now filled 44 per cent of the 34 level, 48,000 sqm building after a (15,000 sqm) pre-commitment by Amazon late last year.
The landlord intends to construct a second office, with 32,000 sqm, as part of its $1.5 billion development at the south west corner of King St.
According to the Property Council of Australia’s July Office Market Report, Melbourne’s CBD vacancy rose to 10.4 per cent – up from a nation leading 3.2pc at the start of 2019.
About 470,000 sqm of commercial space is also set to be delivered to the market in stages over the next three years.
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