140 Hay Street Subiaco leased to HiSeis
The relocation of a seismic exploration services company from Bentley Technology Park to Subiaco is further evidence that the flight to centrality is as prevalent as ever.
PERTH, 14 August 2019 – Office Leasing Director, Ross Skelton and Office Leasing Associate Antonio Trimboli have finalised a lease of 536 sqm at 140 Hay street Subiaco, bringing the building to full occupancy and demonstrating a positive sentiment for Subiaco’s office precinct.
Director of Office Leasing, Ross Skelton said “To bring the property to 100% occupancy in what has been a very challenging market is a great result for the Landlord”.
The leasing market in Subiaco is still considered a well-located office market to benefit from the redevelopment of the former Princess Margaret Hospital and Subiaco-Oval. High quality buildings remain in demand for lease, particularly buildings close to the Subiaco train station.
140 Hay street has a flexible in situ fit out which was able to be utilised with some minor capex works. The outdoor breakout area provides the property a point of difference.
Chief Financial Officer at HISeis, Paul Glew said “140 Hay Street is an eclectic building with contemporary appeal, which suited the image and brand of HISeis. A spinoff of Curtin University, it was time for the business to move closer to our customers as well as locate in a premises that showcases our high-end technology”.
Subiaco is gearing up to capitalise on the improving market conditions, the redevelopment of the suburb will prove attractive to businesses with an abundance of amenity, retail offerings and public transport connections.
This deal further emphasises the recent trend of tenants looking to centralise from suburban office markets into the CBD and CBD fringe markets.
Associate for Office Leasing Antonio Trimboli said “We continue to see tenants in the suburbs take advantage of the attractive rents and better access to amenity”.
We have seen a surge in occupier activity from firms operating in the professional and technical services industry.
JLL Research estimates approximately 30% of all tenant moves were attributed to this sector over the last 12 months.
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