‘Turn key’ solutions paying dividends at 850 Collins Street
Splitting floors and offering tenants newly fitted space has paid dividends for CIMB TrustCapital at 850 Collins Street.
Leasing agents Shane Burns and Milly Stockdale, of Colliers International, have seen a flurry of activity and a spike in interest in space within the 17,430sqm building in the Docklands precinct of Victoria Harbour following the unveiling of several new-look suites.
In the latest deals, negotiated by Colliers International, CSL Behring will occupy 790sqm and Rubik will relocate to 566sqm on Level 1.
Mr Burns said CIMB’s investment in creating fitted suites on part floors throughout the building had been well received, with these new fitted suites being snapped up almost immediately.
“The success of this new initiative has prompted CIMB to keep rolling out more fitted suites, which start from around 350sqm,” he said.
“Docklands has traditionally excluded small-to-medium sized tenants as it’s focus has always been large corporations who could occupy an entire building. At a minimum, tenants have needed to be in the market to lease more than 2,000sqm to find suitable premises in this precinct.
“However, we believe we have found a niche in the market that was not previously available.
“In addition, these turn key fitouts provide a tenant with a brand new workspace without the procedures and time associated with design, building, deadlines, and the like. This continues to provide an advantage for proactive landlords.
“CIMB is currently fitting out a new tenancy of approximately 350sqm and will continue this approach across the remaining two floors or tailor a fitout as required."
850 Collins Street is an eight-level office building anchored by Aurecon, who designed the building as an engineering showpiece. Located within the continually expanding Victoria Harbour precinct in Docklands, it is alongside some of Australia’s largest corporate tenants.
The 5-star Green Star rated building incorporates several retailers at street level, extensive end-of-trip facilities and lower ground level car parking.
Ms Stockdale said the abundance of retail amenity in the surrounding precinct was a major drawcard for tenants, whilst the free trams servicing the CBD and Docklands have changed the areas connectivity with the CBD.
“850 Collins Street itself has a new retail strip along the ground floor of the building plus immediate access to the Merchant Street retail precinct,” she said. “The main entrance of the lobby provides direct access from Collins Street and the ground floor retail amenity includes retail shops fronting onto Collins and Merchant Streets and Import Lane.”