EF commercial vacancy rate falls to record levels

Essendon Fields has continued to service the increasing demand from tenants seeking state-of-the-art commercial space in suburban centres, close to great amenities and easily accessible transport links, with its vacancy rate falling to just 0.2 per cent at the end of October.

In recent weeks a number of new tenants have snapped up available space, along with existing tenants moving to expand their footprint, which has taken occupancy at EF to a remarkable 99.8 per cent.

Essendon Fields is building its development pipeline to meet the ongoing demand, including immediate opportunities across its industrial, automotive and aviation precincts, as well as undertaking initial planning for further office and retail developments.

Recent tenant movements include a 367sqm space snapped up on the ground floor of 6 English St by single tenant, Orbit Logistics. In addition, similarly named Orbx (the globally successful flight simulation software company) is also expanding, and moving from a 121sqm tenancy into a recently refurbished office more than double that size within the precinct.

“These are exciting times for Essendon Fields, and we’re thrilled to be able to welcome new companies joining the Essendon Fields family and to support existing tenants planning for future growth. Essendon Fields offers a highly attractive environment for workers to come back to the office, with its award-winning landscaping, host of retail and lifestyle amenities and accessibility off the freeway,’’ said EF’s GM Development Peter Funder.

“We’ve seen significant interest from tenants in the recently refurbished heritage airport Terminal building at Essendon Fields, which was fully leased prior to completion and will provide an additional 1,900 sqm of office space for small to medium sized businesses,’’ he said.

“The next phase of development for Essendon Fields is focussing on tailor-made buildings for light industrial, automotive, aviation and retail operators, where we are seeing significant demand and we have development-ready land available’’ he said.

Other recent highlights of tenants arriving or expanding their presence at Essendon Fields include Risejet (previously Moorabbin Aviation Services), taking up additional office space at the precinct and a larger area for airport apron parking, and the high profile and successful launch of the new Bombardier Melbourne Service Centre at Essendon Fields last month.

To find out more about Purpose-built and Pre-lease development opportunities at Essendon Fields, visit our property pages or contact Peter Funder on 0437 689 915 or pf@ef.com.au.