Commercial Real Estate – Westpac and KPMG to Get New Addresses

Is your company looking for new premises? Well, you’ll be joining the likes of some of biggest names in Australia – Westpac and KPMG have gone public with their pending office space requirements in Melbourne.

Westpac Bank currently operates out of the Dexus-owned 360 Collins Street building, which has been its Victorian hub since 1935. The bank currently occupies floors 2 through 14 of the building’s 40 levels, a total of 16,000-18,000sq m in office space. The bank’s new requirement requests are quite similar to its current space, with an additional 500 -1000 sq m for a ground floor branch – which the current premises lack.

Westpac has also indicated its preference for a Melbourne CBD locale in a green building.

Meanwhile, KPMG is on the hunt for new premises as well. Their requirements are for 27,000 and 30,000sq m of space, although the lease for their current space is not due to expire until 2016.

Make your own list of requirements

While you may not be after 12 floors of commercial property – it’s just important to have a clear list of priorities and desirables when looking for your own office space. Consider the following:

– Determine your space requirements – how much premises do you need? Think about the number of employees you have, the amenities you want (such as that ground floor branch) and other space requirements you’ll have. Remember that the area you are leasing is for the long term so need to think about your future as well as any immediate needs.
– Know your current obligations – if you’re already leasing office space, find out when your lease is due expire or what options you have to assign the lease to another tenant if you’re looking to move early.
– Pick your location – decide on the best location for your premises. In Sydney, are you looking for Chatswood office space or do you prefer to be closer to the CBD, say a George St office lease?
– Think about extras – do you prefer a green building? Or maybe you’re looking a creative space in a warehouse conversion? There are a number of additional features to consider when it comes to office space and your work environment. Remember that your office could really be your second home – so make sure it meets your needs. Best CBD For Anxiety UK