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Full house as 452 Flinders Street attracts significant new customers in 2019

Dexus secures more than 8,000sqm to take A-Grade building to 100% leased

The Dexus-managed 452 Flinders Street is now fully leased, with the last available space within the A-Grade building now committed.

Colliers International’s Zak Seccull, Andrew Beasley and Edward Knowles have facilitated three significant new leasing deals totalling more than 8,000sqm at 452 Flinders Street to take the building to 100% occupancy. 

V/Line has leased 5,972sqm over Levels 5 and 6, and part of Level 2, for its new Melbourne head office. 

“V/Line is relocating from 750 Collins Street, expanding into bigger, newly fitted out premises on a long-term lease,” Mr Seccull said. 

Mantel Group have relocate from a co-working space to 987sqm of creative office space which will become the rapidly growing IT company’s first official CBD headquarters. 

A further lease has been secured on Level 17 across 1,100sqm. 

Mr Seccull said leasing success at 452 Flinders Street in 2018 had been in part driven by the investment by the owner of the building, Dexus Wholesale Property Fund, to make improvements to the building, with a new lobby and extended end-of-trip facilities which were completed in January 2019.

He said Dexus had completed an extensive, Architectus-designed lobby refurbishment which features new finishes, flooring, ceilings, feature lighting, breakout areas, meeting pods and a new lobby café.

“The lobby refresh will reorient the building’s entry towards Flinders Lane in a move that will make it more pedestrian-friendly,” he said. “These works, which include an extension to existing end-of-trip facilities, had attracting keen interest and as a result, 452 Flinders Street is now fully leased.”

Mr Knowles said Flinders Street was becoming increasingly attractive to corporate tenants, with the western end of the CBD now “well and truly on the radar of office occupiers”.

“The emergence of commercial and retail offerings at 447 Collins Street, the Rialto regeneration and 477 Collins Street combined with significant development along Flinders Street and proposed developments near the World Trade Centre and Northbank precint, has meant that tenants who might have previously have only looked at Collins and Bourke Streets are now expanding their focus in their search for premises,” he said. 

“V/Line in particular was attracted to this space at 452 Flinders Street for its close proximity to Southern Cross and Flinders Street train stations. In particular, given the growth of Geelong and Melbourne’s western suburbs, the new location will provide easy access for attracting and mainting staff from those areas.” 

Dexus is currently undertaking a new development at 180 Flinders Street across 20,200sqm, incorporating an A-Grade office tower opposite Federation Square and Flinders Street Train Station and smaller office development at the rear on Flinders Lane. 180 Flinders Street which is due for completion in mid 2020. 

“180 Flinders Street will incorporate extensive refurbishment of existing heritage offices, with the historic façades fully restored and featuring large, expansive floorplates targeting progressive corporates and creative occupiers,” Dexus Victorian General Manager, Office Leasing, Patrick Stronell, said.

Related Experts

Zak Seccull

Director | Office Leasing

Office Leasing

Melbourne CBD

I have worked as a leasing operative in the  Melbourne CBD for the past eight (8) years and hold a position as a Director in the market leading Colliers International Melbourne leasing team.

During this time I have proven to be one of Melbourne's most active agents in the industry, concluding over 600 leasing transactions on behalf of my clients across new development and existing buildings in the Melbourne CBD, Docklands and Southbank precinct's to well known and reputable tenants.

I am an extremely motivated and highly strategic operative that understands the leasing process and tenant’s relocation drivers.

In 2019, I concluded a total of 79 leasing transactions in the Melbourne CBD and Docklands, of which 84% of these were unrepresented tenants ranging from 8,595sqm to 45sqm in size.

I pride myself on my organisational and communication skills, which have enabled me to develop a dedicated focus that ensures my clients and tenants receive an unparalleled service.

Please feel freel to contact me to discuss your property objectives.

View Expert

Andrew Beasley

National Director

Office Leasing

Melbourne CBD

Andrew has  been an integral part of the Colliers International Office Leasing team for over 20 years and has worked with some of the nation’s biggest corporate, institutional and private clients.

He is considered a major transaction and pre-commitment specialist in Melbourne having been involved in an array of large scale building refurbishments and developments.

Part of Andrew's role also includes leading the successful Melbourne Office Leasing business.

Colliers International Australian Employee of the Year 2018.

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Edward Knowles

National Director

Office Leasing

Melbourne CBD

With 14  years’ experience in the Colliers International Office Leasing team, Edward  has a consistent success track record that has allowed him to be marked as one of Melbourne’s most active operators.

In 2018 Edward was awarded the Colliers International National Award of Excellence as one of the highest revenue earning operatives in the country, this marks the fifth occasion in which he  has  received this award.

Maximising the value of his client’s assets by providing ongoing recommendations and advice has helped Edward to achieve many highly reputable deals within the Melbourne CBD office market.

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