Investa Office Fund has agreed a renewal with ANZ Wealth Australia that will see the financial services business remain in the 15,821 square metres it leases at 347 Kent Street for at least another five years.
The ASX-listed fund said that it had reached a heads of agreement with ANZ to continue the lease, which covers 63 percent of the Sydney building's net lettable area.
Investa said planned refurbishment works at 347 Kent Street remained on track including an upgrade of mechanical services, the entrance foyer and end-of-trip facility and the creation of an outdoor terrace area on level 1. This project cost has been estimated to be between $45 million and $45 million and would be contained to floors not subject to ANZ's renewal.
Image source: Louie Douvis
Article source: http://www.afr.com/real-estate/investa-office-fund-renews-anz-lease-at-347-kent-street-for-five-years-20171101-gzclyq
Ray White’s top 10 listings for November: (Click on address to view listing)
5 / 9 Castlereagh Street, Sydney
14 / 77 King Street, Sydney
14 / 1 Market Street, Sydney
4 / 62 Pitt Street, Sydney
9 / 46 Market Street, Sydney
11 / 61 York Street, Sydney
8.03 / 46 Market Street, Sydney
10.01 / 45 Clarence Street, Sydney
7.01 / 261 George Street, Sydney
14 / 187 Macquarie Street, Sydney