Dexus continued to work with tenants to provide property solutions, successfully securing a long term lease commitment from existing tenant Powercor at 40 Market Street in Melbourne, 15 months after the property’s acquisition and well ahead of lease expiry.
The lease with Powercor is for the entire building across 11,615 square metres for 15 years. Prior to the commencement of the new lease in mid 2015, Dexus will undertake high quality base building upgrades including new lifts, lobby enhancements, upgraded plant and equipment, new end-of-trip facilities and refurbished toilets and amenities in line with Powercor’s requirements.
Kevin George said: “We are pleased to have been able to deliver a property solution for Powercor at 40 Market Street. The leasing together with the property improvements will reposition 40 Market Street, enhancing returns for investors.”