Grand Hotel Group has recorded strong leasing activity over the last twelve months in the office component at the Hyatt Hotel in Perth.
According to GHG, the office component of the property is the largest non-core asset held by the group and vacancy rates is currently less than 1%.
Since February this total rental income from the office component has grown from $1.823 million to a new annual level of $3.375 million.
The new tenants include Fortescue Mining Group for 3,300 sqm, the Department of Industry and Resources for 600 sqm, National Lifestyle Villages for 425 sqm, Host Plus with 309 sq and a number of smaller tenants.
GHG’s managing director Garry Cameron said the successful leasing campaign has added significant value to the building, which had capitalised on its prime location at the gateway to the city.
By Adam Parsons
