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Big names may not have very far to look for a change of scenery

28 Nov 2012 THE AGE - SIMON JOHANSON


TWO large prospective tenants are believed to be looking for office space in Melbourne.

Professional services firm KPMG is seeking up to 35,000 square metres and electricity supplier AGL wants about 13,000 sq m, industry insiders say.

KPMG was looking at options as its office lease at 147 Collins Street was due to expire, a spokeswoman said.

Options did include staying at its present premises but no decision had been made, she said.

AGL would not comment on its requirements, but both it and KPMG may not have to look far.

Leighton Contractors will begin construction in the next few weeks on a 55,000 sq m office at 567 Collins Street, due for completion in 2015.

Leighton Properties entered into a contract to purchase the land, extinguishing a previous joint venture deal with APN.

Law firm Corrs Chambers Westgarth Legal will lease 8800 sq m of the 26-level tower between Spencer and King streets, with Leighton Construction itself also expected to take a significant proportion.

Three other premium grade buildings in Collins and Bourke streets are not yet fully leased, Colliers International data shows - 150 and 171 Collins and 720 Bourke between them have 39,000 sq m.

Another major construction, Cbus Property's new City West Police Complex on Spencer street, will be fully occupied once delivered in 2015.

Baulderstone, a division of Lend Lease, will construct the nine-floor complex that includes contemporary office space, a purpose-built police station and parking for 300 vehicles.