NEWS

IT firms flock to St Kilda Road to give staff light, bright, accessible premises

Natural light, striking views and easy access to the CBD and amenities are at the top of the wish list for IT firms in the hunt for office space.

The recent availability of these features within buildings located along St Kilda Road has seen the precinct become a new location of choice for Melbourne’s growing IT sector.

Colliers International’s Vincent Tran and Matt Cosgrave have negotiated a series of leases in recent months as the  St Kilda Road precinct experiences a surge in demand for office space from technology-driven businesses.

“A common theme among the high number of IT based deals recently done is the importance that these businesses are placing on the need for excellent natural light and views for their employees,” Mr Tran said.

“These are key factors in the decision-making process, as key stakeholders of these businesses want to ensure they are providing a bright and inspiring future real estate environment for their employees given the long hours they spend in front of their computer screens."

Mr Cosgrave said close proximity to the CBD and sought after amenity, including quality cafes and restaurants, was also high on the priority list for these tenants.

“St Kilda Road has become a preferred location for these IT businesses, as it offers all of these features in spades,” he said. “Access to the Royal Botanical Gardens and the Tan Running Track at Albert Park allows employers to offer their staff additional lifestyle-based perks."

Recent related deals facilitated by Mr Tran and Mr Cosgrave have included:

• NASDAQ-listed IT firm LivePerson moving into 800sqm at 5 Queens Road

• Anittel securing 200sqm at 441 St Kilda Road

• A long term lease to Software AG at 607 St Kilda Road

• A 140sqm lease to Globe Telecom at 468 St Kilda Road

• Prime Que (299sqm) and NetSuite (420sqm) at 420 St Kilda Road 

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