Three new tenants have committed to Adelaide’s Greenhill Road office precinct in a positive sign for the city fringe.
Siemens, Cruise & Maritime Voyages and Yogo Design & Consulting have all taken space in 10 Greenhill Road in leases negotiated by CBRE’s Matt Willis.
Mr Willis said the deals, totaling 650sqm, took out the remaining vacant space in the Wayville building, which is recognised as one of Adelaide’s best city fringe assets.
“While Greenhill Road is an established city fringe location, the market has faced some challenges in recent times, with attractive incentives drawing some occupiers from the suburbs to the CBD,” Mr Willis said.
“Nevertheless, we’re finding that SME businesses are still attracted to this location as highlighted by the recent activity at 10 Greenhill Road. Accessibility to the CBD and the availability of on-site parking have been key drawcards and we have seen a resurgence in tenant demand in the past six months – particularly for buildings that have been refurbished and upgraded to provide more modern facilities and general amenity.”
10 Greenhill Road offers an impressive foyer, internal atrium, fully refurbished amenities and access to the new Wayville train station.
Mr Willis said Yogo Design & Consulting had relocated to the building from the CBD to make its office more easily accessible for clients, given the availability of street and onsite parking.
Siemens has relocated from another Greenhill Road location while Cruise & Maritime Voyages relocated its support office from Sydney after identifying Adelaide as a more cost-effective business location.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.