Savills News

Tenants begin to flock to Queens Wharf precinct

A flurry of leasing activity within a prominent George Street building has marked the beginning of the migration of tenants towards the emerging Queens Wharf precinct.

A flurry of leasing activity within a prominent George Street building has marked the beginning of the migration of tenants towards the emerging Queens Wharf precinct.

Office Leasing agents Daniel Boyes and Daniel Byrne of Savills have secured four separate leases in the heritage listed building situated on the corner of Queen and George Street.

Over the last 12 months Savills has transacted 23 deals in the George Street Corridor ranging from 45 - 300sq m at an average rental rate of $385 per square metre.

Leasing Manager, Daniel Boyes said that new businesses are wanting to be a part of the buzz on George Street.

“There is a real hype around the revitalisation of this precinct and tenants are already being drawn here as they are anticipating great things to come,” Mr Boyes said.

Future X Energy is the most recent tenant to secure 130sq m of space on level two for an initial three year term.

Leasing Executive, Daniel Byrne said that all negotiations were done over a one week period from the first inspection.

“Future X Energy had an immediate requirement and were very quickly drawn to the building due to the location and unique heritage offering,” Mr Byrne said.

Being a start-up business, Future X Energy have taken up a fully fitted space within the building so they could begin trading right away.

With the first stages of the Queens Wharf Precinct predicted to come to completion by 2022, prospective tenants are already asking all the right questions.

“People are excited about what has been proposed – their first question at any inspection is always around what has been earmarked for the region,” Mr Boyes said.

Other tenants who have taken up residence in the same address include Ratch Australia, One World Migration and Force One Realty.

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