Leases for office space in the central Sydney CBD are being secured even before existing tenants have vacated, according to Ray White Commercial.
The increased demand has agents confident of a more buoyant Sydney CBD office leasing market in 2011.
Ray White Commercial (Office Leasing) Director John Skufris said recent leasing successes at 46 Market Street pointed to a positive outlook for the year ahead.
“This building is now 100 per cent leased and we were agreeing new leases to incoming tenants well in advance of existing tenants locating,” Mr Skufris said.
He said the central location of the building on the corners of Market, George and York streets and its views over the historic Queen Victoria Building made it highly attractive to potential tenants.
“The building underwent a major refurbishment a few years ago including lift upgrades, a new foyer, new tea rooms, new bathrooms and refurbished floors,” he said.
"Other aspects that make the location so appealing are that Westfield Centrepoint is now opened and the Queen Victoria Building is recently refurbished and just opposite.
“Plans for the upper levels of Market Street's State Theatre and the Gowings building to be converted into a 4 1/2 star boutique hotel were recently approved as well.
“46 Market Street is also located opposite Myer and has a Commonwealth Bank branch on the ground floor. It offers light on two sides, has three street frontages and is in close proximity to Town Hall Station and Cockle Bay.”
One of the last tenants signed up for 46 Market St was Thinc Recruitment, which specialises in finding employees for the building, property, architecture, infrastructure, engineering and mining industries nationwide.
"Thinc Recruitment recently committed to a three year lease at initial rent of $580 per sqm pa gross on Level 11,” Mr Skufris said.
“The suite offered a recruitment style fit out with views over the Queen Victoria Building. The suite was still occupied upon Thinc signing its lease."
ENDS
Further inquiries:
John Skufris
Ray White Commercial Director (Office Leasing)
Mb: 0414 969 221
Email: jskufris@raywhite.com