Strong leasing momentum at 360 Collins Street, Melbourne defies pandemic

Strong leasing momentum at 360 Collins Street, Melbourne defies pandemic

360 Collins Street in Melbourne is now 99% leased following strong leasing activity over the past six months, demonstrating continued demand for high-quality office space despite the current economic climate.

Patrick Stronell, Victorian General Manager, Office Leasing at Dexus, said: “The recent lockdown had interrupted but not derailed the broader economic recovery, and although the momentum was impacted, we are already seeing confidence returning as these successful transactions demonstrate.”

Over the six months to 30 June 2021, Dexus transacted 11 leasing deals across 4,327 square metres, all commencing in CY2021. Key leasing activity included:

• Reaching a Heads of Agreement with a multi-national business across 894 square metres, expanding their tenancy by 605 square metres
• Renewing American Express across 844 square metres
• Securing PAC Partners across 473 square metres
• Securing ALIC across 359 square metres
• Securing CEVO across 350 square metres

Across the transactions, the weighted average lease term was 4.2 years, with seven deals representing commitments from new customers.

Owned by Dexus Wholesale Property Fund, 360 Collins Street has attracted customers looking for fitted suites with premium amenity including refurbished end-of-trip facilities, a wellness centre and access to Dexus Place.

These leasing deals were negotiated by Adam Davy, Director – Office Leasing and Alissa Woods, Manager – Office Leasing of Colliers International.