MIRVAC GROUP (ticker: MGR.AX, exchange: )
News Release -
Mirvac Leasing Update
Mirvac has completed commercial and industrial leasing deals totalling more than 35,000 square metres since December 2003.
Major new leases include a 2,204 sqm lease to Quintiles at the Egis building in Chatswood, a 4,798 sqm lease to Thiess/John Holland at 271 Lane Cove Road in Sydney and a 3,096 sqm lease to URS Australia at Riverside Quay in Melbourne.
Solutions from Silicon, a tenant at the Egis building, has expanded from 432 sqm to 1,099 sqm.
In deals at 380 St Kilda Road in Melbourne, Nortel Networks has exercised its option over 4,986 sqm, Badjar Advertising has agreed to renew 1,296 sqm and Toll Transport has agreed to renew 1,156 sqm as well as taking an additional 237 sqm in the building.
In Sydney, Clifton and Associates has agreed terms to renew leases at 190 George Street and 200 George Street of 1,700 sqm and 1,248 sqm respectively and the Commonwealth Government renewed 1,003 sqm at Northmead.
Mirvac Investments CEO Mr Barry Neil said there were continuing signs that leasing activity was increasing.
"White collar employment is currently driving job creation in the major commercial markets and this is slowly being reflected as increased demand for commercial space," Mr Neil said.
"Coupled with continued strong tenant retention, this has enabled us to complete deals totalling more than 35,000 square metres."
The Federal Government's announcement that it will abolish ATSIC will not affect the tenancy at Lovett Tower in Canberra. The lease will be assigned to a new agency, Aboriginal and Torres Strait Islander Services.
Group Corporate Affairs Manager
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