One of the city’s key office towers has attracted a long-term Commonwealth tenant as it undergoes refurbishment and repositions itself in the market.
Revamped and relaunched to market, the 14-storey building at 12 Moore Street is currently home to a range of tenants including the ACT Government Solicitor and the ACT Justice and Community Safety Directorate. It has drawn significant early interest, with the Commonwealth of Australia taking out three floors – more than 2000 square metres – under a 10-year agreement.
Colliers International director office leasing, Aaron Bruce, said he is unable to say which agency will be moving in but the tenancy includes the entire second floor of the building, plus space on the ground floor and first floor.
Positioned in the heart of the Canberra CBD on a landmark corner position at the intersection of Moore Street and Rudd Street, the address at 12 Moore Street is owned by AMP Capital and has recently commenced a major refurbishment program.
The prominent city centre tower with a five-star NABERS energy efficiency rating combines ground-floor retail with 13 levels of commercial office space and two levels of basement car parking.
Upgrades include a redesign of the entry facade, entrance lobby, upper-level lobbies, flooring, ceilings, lighting, bathrooms, end-of-trip facilities, and the installation of new balcony space.
AMP Capital leasing director Elizabeth Bors said the repositioning of 12 Moore Street is focused on meeting the changing business needs of customers, offering a customer-centric lobby experience, and new amenities designed to enrich their daily working lives.
“The work has yielded immediate results for our investors and our customers, and certainly kickstarted the momentum in the new leasing campaign,” she said. “We expect demand for the remaining available space to be strong.”
Mr Bruce said the ACT Government staff were due to vacate eight floors – 7000 square metres – at the end of April and move to a new office block at Constitution Place.
Those floors will then be gutted to make way for a new fit-out.
Mr Bruce said demand for high-grade office space has been strong and there are three or four potential tenants in negotiations.
“We are extremely pleased with this early success in securing a premium tenant, which highlights the strength and value of this asset in the Canberra market,” he said.
Mr Bruce said the Commonwealth’s initial response to the COVID-19 pandemic and now the infrastructure and job creation phase has underpinned the Canberra office market.