Companies Buy Up Office Space in Melbourne's World Trade Centre

More than 4000 square metres has been leased in Tower 4 at Melbourne’s World Trade Centre (WTC) to four tenants with two further leases, now under offer.

The newly refurbished space is likely to render the 12,000 square metre tower fully occupied in coming weeks.

Savills Divisional Director Office Leasing, Phil Cullity, colleague Mat Kent and Colliers as joint agents leased the space at 18 - 38 Siddeley Street tower.

The tenants include a number of various industries including Academy of Interactive Entertainment (AIE) which has agreed terms on a 2545 square metre space, and not-for-profit Rural Workforce Agency Victoria (550 square metres).

Mr Cullity said rentals ranged from $290 a square metre net for low-rise space up to $340 a square metre net for high-rise. All leases were between five and ten years.

WTC was recently re-launched as the new WTC World Trade Centre following a $50 million-plus refurbishment including placing office space on the market for the first time since the building was originally constructed.

Mr Cullity said the refurbishment had been an outstanding success with the whole, 12,000 square metres of office space in Tower 4 leased in just over 12 months from the completion of works.

"This has been a stunning result, in what has otherwise been a tough leasing market, in tapping into what was previously a virtually unknown office market.

"We identified early on our key market and the refurbishment was really the key, along with the waterfront and accessibility in transforming WTC into what is now a thriving retail and commercial hub," Mr Cullity said.

Positioned directly across the Yarra River from Melbourne Convention Exhibition Centre, the complex comprises five office towers ranging from eight to 12 stories, offering 70,000 square metres of office space, and an array of amenities including restaurants, cafes and childcare.