Macquarie Direct Property has negotiated for Barristers Chambers to expand its existing space at 200 Queen Street in Melbourne.
The Barristers’ Chambers lease will see it take up one floor to nine floors of the building.
Barristers’ Chambers has agreed in principle to lease an additional 5,298 sqm previously leased by Middletons, which relocated in January this year to a 6,000 sqm space Melbourne’s Rialto tower at 525 Collins Street.
The new lease will increase the buildings occupancy rate to 98% leased and substantially improving the average lease expiry profile.
Barristers’ Chambers already holds 851 sqm, taking its tenancy to 27% of the overall building.
Macquarie Direct Property’s chief executive Richard Cutler said 200 Queen Street Melbourne is an A-Grade property in the heart of the legal district.
Cutler said MDPML was pleased to expand its relationship with Barristers’ Chambers and that it would continue to look for ways to deliver value to investors.
“Barristers’ Chambers has been a tenant of 200 Queen Street Melbourne since it was built in 1982 and it is a positive sign for our investors that it wishes to expand its presence within the property,” he added.
Australian Property Journal
