Nestle secures new lease agreement

Nestle secures new lease agreement

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Matthew Sullivan

Major property group Australand has successfully renewed a 10 year lease agreement with global food and beverage company Nestle.

Commencing in 2013, the lease renewal will cover Nestle’s 17,000sqm Oceania regional headquarters building located within Rhodes Corporate Park – with a minimum rental increases of 3.5 per cent per annum.

According to Australand’s general manager Rob Wallace, the Nestle lease was one of the largest suburban office deals in the past year.

“Nestle is a long term and valued client of our business and with a forecast shortage of supply on the horizon it was in both our interests to renegotiate.” Mr Wallace said.

Matthew Sullivan

Major property group Australand has successfully renewed a 10 year lease agreement with global food and beverage company Nestle.

Commencing in 2013, the lease renewal will cover Nestle’s 17,000sqm Oceania regional headquarters building located within Rhodes Corporate Park – with a minimum rental increases of 3.5 per cent per annum.

According to Australand’s general manager Rob Wallace, the Nestle lease was one of the largest suburban office deals in the past year.

“Nestle is a long term and valued client of our business and with a forecast shortage of supply on the horizon it was in both our interests to renegotiate.” Mr Wallace said.

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