Investa Office Fund (IOF) announced today that it has successfully leased 7,581sqm at 151 Clarence Street, Sydney to Westpac and Telstra.
Westpac currently occupies 10,571sqm in the building and has renewed over 4,493sqm until December 2015. Telstra has entered into a new lease until February 2016 over 3,088sqm of the building.
Toby Phelps, Fund Manager of IOF said: "These two leases address the Fund's only major lease expiry risk in Sydney in Financial Year 2014 and follow major leasing milestones earlier in the year at 16-18 Mort Street Canberra and 140 Creek Street Brisbane. Investa's focus on being the first choice in Australian office continues to deliver strong results for IOF unitholders and we look forward to further success in the year ahead."
Over the next two years the Fund will finalise plans for a potential redevelopment of the building with the objective of creating a high quality A-grade asset.
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