CBD’s Smaller Leases

Refurbished smaller suites ranging from 50 to 200 square metres are also being offered at 276 Flinders Street – known as Melbourne Square – through Matthew Kent of Savills, in tandem with JLL agents James Palmer and William McLaughlin.

The building, owned and managed by boutique commercial property group Fivex, has been re-positioned to include retail tenants.

Mr Kent said Japanese retailer Daiso, a Fitness First gym and Goodstart childcare centre occupied the first three floors of the refurbished building, the middle floors being broken up into smaller spaces to provide a niche offering to small businesses.

Smaller tenants in 276 Flinders Street include a dentist, migration agents, an IT firm and advertising groups.

“They’re small businesses of up to 10 or 12 people, but with the potential to grow and take up more space,” he said.

Mr Kent said offices hat had good natural lighting and were well located (276 Flinders Street is directly opposite the Flinders Street train station) were important to attracting smaller tenants.  

Larry Schlesinger

The Australian Financial Review

Monday, 31 March 2014