The building has a strong committed office occupancy of 97.5% and a long weighted average lease expiry (WALE) of 6.7 years. Its tenants include WeWork and prominent local educational institutions such as Central Queensland University and Redhill Education.
CapitaLand Investment (CLI) has acquired a freehold office tower in the Western Core of Melbourne’s central business district (CBD) on June 7.
The tower is a 22-storey building at 120 Spencer Street, located opposite the Southern Cross Station. The station is a major hub that connects the city to the wider Melbourne region. The tower has a total net lettable area (NLA) of 32,000 sqm.
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