Dexus

Media Release

4 August 2021

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.

-ENDS-

For media enquiries, please contact:

Elle Twight

Manager, Communications and Corporate Affairs +61 402 518 454

elle.twight@dexus.com

About Dexus

Dexus is one of Australia's leading real estate groups, managing a high-quality Australian property portfolio valued at $36.5 billion. We believe that the strength and quality of our relationships will always be central to our success and are deeply committed to working with our customers to provide spaces that engage and inspire. We invest only in Australia, and directly own $15.5 billion of office, industrial and healthcare properties. We manage a further $21.0 billion of office, retail, industrial and healthcare properties for third party clients. The group's $11.5 billion development pipeline provides the opportunity to grow both portfolios and enhance future returns. Dexus is a Top 50 entity by market capitalisation listed on the Australian Securities Exchange (trading code: DXS) and is supported by more than 29,000 investors from 24 countries. With 36 years of expertise in property investment, development and asset management, we have a proven track record in capital and risk management, providing service excellence to tenants and delivering superior risk-adjusted returns for investors. www.dexus.com

Dexus Wholesale Property Fund

Dexus Wholesale Property Fund (DWPF or the Fund) is a $14.0 billion open-end unlisted property fund (merged with Dexus ADPF, excluding Identified Assets) which owns interests in a diversified portfolio of office, industrial and retail properties throughout Australia. DWPF's purpose is to improve futures through real estate investment, providing investors with exposure to a high-quality diversified portfolio, direct property market return characteristics and opportunity for enhanced returns. The Fund is managed by Dexus and leverages Dexus's in-house property expertise to provide investors with a strong corporate governance structure, low management fee structure and ongoing liquidity provisions. DWPF has a strong track record of superior performance through consistent long-term outperformance of the MSCI/Mercer Australia Core Wholesale Monthly Property Fund Index. www.dexus.com/dwpf. Dexus Wholesale Property Limited ACN 006 036 442 (DWPL), as Responsible Entity of Dexus Wholesale Property Fund.

Attachments

  • Original document
  • Permalink

Disclaimer

DEXUS Property Group published this content on 04 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2021 00:25:05 UTC.