Dexus ups ante in Perth with major leasing deals
Dexus has struck major leasing deals in Perth’s improving property market and also tapped a branch of UTS as a prospective occupant for a building near Sydney’s Central station.
In the Perth play, Dexus has won three new tenants across about 14,000sqm at its Kings Square project. The leasing deals at its 556 Wellington St complex at Kings Square involve securing the federal government for 8495sqm, international engineering firm BG&E for 2448sqm and P&N Bank, which will occupy 3248sqm.
Leases have now been secured across 89.7% of the three office buildings at Kings Square, with four floors remaining at 556 Wellington St.
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Dexus portfolio manager Tim McGuane says Perth is undergoing a mining employment recovery and it is seeing more optimism from the business community wanting space.
Sheffield Property joint managing director Digby Sutherland negotiated the leases.
Meanwhile in Sydney, the landlord has won interest from UTS branch Insearch that plans to shift from 187 Thomas St in Haymarket to 14-18 Lee St in Haymarket that is owned by the Dexus Office Partnership.
The building would become a new head office and a major teaching location from 2021.
Insearch will shift from five buildings where it has 18,000sq m down to two sites, including the Dexus property.
The proposed development would provide space for up to 2400 student across about 14,000sq m. Insearch said there was an opportunity to enhance its facilities and student experience.
The building is part of the Henry Deane Plaza development that includes three office buildings and public open space.
Dexus and Frasers Property have separately made an unsolicited proposal to the NSW government to redevelop the building they own in the area into a major mixed-use precinct.
This article originally appeared on www.theaustralian.com.au/property.
