Privately owned buildings with character and competitive leasing terms are attracting businesses from the suburbs to the Sydney CBD fringe, according to Ray White Commercial.
Two expanding IT firms have taken up new tenancies in a rare terrace style building near the heart of the Sydney CBD.
Enterprise Performance Systems International (EPSI) and Unlock Technology have leased the remaining office space at 3 Barrack Street in a deal negotiated by Ray White Commercial (Office Leasing) directors John Skufris and Anthony Harris.
The three-storey building has been held since 2001 by Lagudi Holdings Pty Limited. They also own the adjoining 1 Barrack Street, fronting Clarence Street.
“Number 3 Barrack Street is a genuine success story and even the owners are now looking to relocate their consulting business there,” Mr Skufris said.
“The building is situated on the corner of Barrack and Clarence streets – just 100m from Martin Place - and offers the creative space that tenants crave for outside the city's edge."
“This is a good example of the pockets of privately owned buildings with character in the CBD."
“Tenants are attracted because the buildings are a contrast from the majority of the CBD, which can be a jungle of concrete and glass."
“While these older buildings are attracting businesses back to the city, their tenants are also drawn by competitive rents."
“The healthy supply of stock in the Sydney CBD is keeping a balance on rents and lessors are still providing competitive terms to secure tenants.”
Mr Skufris said the EPSI and Unlock had signed two and three year leases respectively with rents achieved between $370 per sqm - $400 per sqm.
“Whole floor tenancies were available with their own amenities and existing fit outs,” he said.
ENDS
Further inquiries:
John Skufris
Ray White Commercial Director (Office Leasing)
Mb: 0414 969 221
Email: jskufris@raywhite.com
Anthony Harris
Ray White Commercial Director (Office Leasing)
Mb: 0409 319 060
Email: aharris@raywhite.com