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Few Agrade space options for Employers Mutual

By: jane zhang
For : wangyin
Date Added : July 22, 2010 Views : 150
Rate Author : Current : 2.75 /5
Rate this PR : Current : 2.58 /5



AFTER a tough 12 months and with the recent uncertainty about new mining due to the resources super profits tax, regional districts are finally starting to see some signs of improvement.

Although the pace remains slow, there have been new leasing deals and asset redevelopment that has spurred many communities. Newcastle is one area where people are starting to feel more optimistic.

In a new deal, workers compensation specialist Employers Mutual has committed to leasing 1650 square metres of space in the landmark GHD Tower in Newcastle's Honeysuckle precinct.

The Newcastle managing director of CB Richard Ellis, Angus Klem, who negotiated the six-year lease, said it was the largest office commitment in the city this year.

The Employers Mutual deal leaves little remaining vacant space in the 24 Honeysuckle Drive complex, which was developed by a consortium comprising AMP Capital Investors, Tuscan Corporation and Crone Partners. The complex incorporates two seven-storey buildings with a combined area of 14,500 square metres, including ground-floor retail and childcare facilities.

AMP Capital Investors owns the site and its head of opportunity funds, Dale Phillips, said the project had set the benchmark for new office development in Newcastle, given its environmentally sustainable design and that it was one of the rare new commercial buildings in the central business district capable of accommodating tenants requiring a large amount of space. Mr Phillips said Employers Mutual was the latest high-profile occupant to commit to the complex.

It joins the Commonwealth Bank, international professional services company GHD, Kinmont Engineers, childcare provider Little Unicorn and Jayes Travel.

Mr Klem said the lease had been signed amid forecasts of a looming shortage of premium office space in the Newcastle CBD.

''There were few A-grade space options for Employers Mutual to review, with no new A-grade supply proposed for the CBD and lead times of up to three years for large-scale projects,'' he said.



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Few Agrade space options for Employers Mutual,jane
Phone : 13865678868

Email : jason12202010@hotmail.com

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