A flurry of leasing activity is making its way through Melbourne CBD office buildings as the market experiences more demand for small, fitted space than it has seen in years.
Colliers International has recorded a 27 per cent increase in sub-1,000sqm leasing deals in CBD (including St Kilda Road) in the first quarter of 2015, compared to the same period last year.
The team currently has 72 leasing deals in the pipeline or forecasted for space under 1,000sqm.
“At the smaller end of the market we are seeing a noticeable increase in requirements for sub-1,000sqm space, particularly fitted space,” Colliers International’s Adam Davy said. “This is across the board, across all tenant sectors.”
Mr Davy and colleagues Adam Shirley and Nick Serafini have negotiated a series of leases in the first quarter of 2015 which have seen landlord works seal the deal for many tenants.