Southbank maintains popularity among IT groups
Global cloud software company VMware has expanded its Melbourne footprint within the Freshwater Place precinct, in a move that cements Southbank as the preferred home of IT groups.
The Australian branch of the business will lease 1,375sqm on level 14 at 2 Southbank Boulevard on a seven-year term.
Colliers International and CBRE negotiated the transaction on behalf of landlords GPT Wholesale Office Fund and Frasers Property Australia, while VMware was represented by Angelo Pavanello at JLL.
“Due to internal growth of the business, which included the acquisition of AirWatch [now VMware AirWatch], VMware outgrew its current premises at 28 Freshwater Place,” Colliers International’s office leasing director Ben Christie said.
“After an extensive search of the Melbourne CBD, Docklands and Southbank, VMware decided to remain within the Freshwater Place precinct and secured a larger tenancy, level 14 of the neighbouring 2 Southbank Boulevard.”
The transaction sees the Southbank area remain the popular choice for office locations among IT groups.
“VMware’s commitment to 2 Southbank Boulevard at Freshwater Place continues a consistent trend that we’re seeing of IT and technology groups choosing Southbank as their preferred home,” Mr Chrisite said.
“Other organisations that have chosen Southbank as their office base include Microsoft, Apple, LinkedIn and IBM.”
Mr Christie said the tenancy was also testament to the high-calibre onsite amenity provided thoughout the Freshwater Place precinct.
“2 Southbank Boulevard includes the recently upgraded, state-of-the-art end-of-trip facilities, childcare facilities, direct access to Flinders Street train station and a highly efficient, column-free central core floor plate,” he said.
“Southbank also provides an outstanding choice of iconic and signature riverside restaurants, through to casual dining and bars – there’s something to suit every taste.”
Southbank waterfront properties are tightly held and increasingly sought after, with Mr Christie saying vacancy currently sits at 4.6%.
“The precinct continues to be the stand-out performer in the Melbourne market,” he said.