The Card Network has leased a 635sqm rare freestanding building on bustling Swan Street, Richmond leased by Fitzroys Associate Stephen Land who negotiated the five-year deal at 250-254 Swan Street at $254,000 per annum plus GST.

City fringe continues to attract tenants 250-254 Swan Street, Richmond.The character and lifestyle attributes and accessibility of Melbourne’s city fringe continue to attract tenants in the shifting office environment.

“Considering what is often referred to as a ‘challenging’ office leasing market, this office attracted a healthy stream of enquiry from a range of different office users and hybrid retail/office tenants. From the campaign’s launch in early April, terms on a Heads of Agreement were agreed in just over a month’s time,” Land said.

“The self-contained nature of the building, and its direct street exposure within the hugely popular Swan Street strip were huge drawcards, as was the rare, large outdoor terrace garden which was perhaps the factor that most tenants referred to,” Land said.

He said the character and charm of the heritage building, with its high-vaulted ceilings and exposed bluestone walls, also generated a substantial amount of enquiry.

“Lifestyle and wellness aspects of a workplace are more important and sought-after than ever, from the work space itself to the surrounds.

“Vibrant precincts are a huge attraction to businesses wanting to attract and retain top-tier talent. Home to one of Melbourne’s best hospitality offerings, Swan Street is busy at all hours with a number of quality places to get a coffee, or drinks or a meal, or to break up the day with a meeting out of the office.

Land said highly-accessible locations remain front-of-mind with flexible working arrangements in vogue.

“The reassessment of office space requirements in the COVID period will see ongoing fluid movement of tenants between the CBD, inner-city and inner suburban markets for some time,” he said.

“Groups have revised their space requirements and in the shifting environment, and we continue to see tenants looking for highly accessible locations while taking opportunities to seek out spaces they previously would not have considered.”

“Swan Street is easily accessible by car with major arterial roads nearby, as well as multiple tram routes and busy Richmond station,” he said, adding that the property’s associated on-site parking enhanced this further.

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