Tenants seek out Dexus' 360 Collins Street office development in Melbourne

Property group Dexus' suite strategy is paying off, with its Collins Street building in Melbourne experienced a surge in leasing deals.

There have been 20 transactions for a total of more than 7,000 sqm at 360 Collins Street during the past six months, with tenancies ranging from 190 sqm to 900 sqm, according to leasing agency Colliers International.

Recent deals include Eblueprint, which leased 321 sqm on level 12, WBP Property Group, which secured 373 sqm on level 15, and Hatch, which secured 288 sqm on level 11.

Colliers International’s Adam Davy, Ben Christie and Stephanie Hawkins secured the deals.

Dexus' suite strategy involves cutting up whole floors and refurbishing facilities to accommodate and attract a greater number and range of occupiers.

Hawkins said the upgrades were a key drawcard for new and existing tenants.

In other deals, investor and media relations advisory firm Market Eye has taken a new lease for 240 sqm on level eight while iBuildNew has committed to 162sqm on level nine after the space was created in a subdivision for two larger leases to CH2M Hill and Intralink Wealth Management.

Level eight was divided to accommodate three tenants as part of the building’s suite leasing strategy, which was a selling point for Market Eye, Davy said.

Apt Wealth Partners has committed to 480 sqm, also on level eight, relocating from 411 Collins Street in a flight to quality.

Davy, who negotiated the five-year lease, said the onsite amenity for Apt Wealth Partners’ clients at 360 Collins Street drove the move to the A-grade asset.

“The building provides a grand new lobby, casual meeting areas, resort-quality end-of-trip facilities and new restaurants,” Davy said. 

“The floor was subdivided to accommodate Apt Wealth Partners’ specific leasing requirements,” he said.

Davy negotiated the deal at a record rental rate for the building.

Recently, Dexus also entered into an agreement to acquire the landmark heritage office building at 100 Harris Street in Sydney’s Pyrmont for $327.5 million, the largest office transaction in the suburb’s history.