Salmat Commits to 485 La Trobe Street, Melbourne

The Lendlease managed Australian Prime Property Fund Commercial (APPF Commercial) has signed a six year lease with Australian Listed marketing services company Salmat at 485 La Trobe Street, Melbourne.

Salmat will occupy eight floors of the La Trobe Street complex located in Melbourne’s commercial CBD, taking approximately 8,400 square metres in the South Tower. Salmat will move into the building in January 2017 and has expansion rights over a further 3,300 square metres.

The 33,500 square metre, A Grade commercial complex was purchased by the Lendlease managed APPF Commercial in December 2013 and will undergo a refurbishment of the ground floor and end of trip facilities in 2016.

Managing Director of Lendlease’s Australian Investment Management business, Kylie Rampa said commitment from Salmat was an excellent outcome, reflecting the buildings’ flexible and sustainable attributes.

“The La Trobe Street property has strong sustainability credentials, excellent transport connectivity and tremendous access to green space sitting opposite Melbourne’s 7.2 hectare Flagstaff Gardens,” said Ms Rampa.

Salmat CEO, Craig Dower said the decision followed 12 months of due diligence to find a suitable location.

"We were searching for a property that would help redefine the way we work and deliver a better value property solution for Salmat,” he said.

“As part of the building’s refurbishment by Lendlease, we’ll introduce a more modern and efficient open plan design to optimise floor space and create a more collaborative, agile, functional and flexible working environment.

“Maintaining a CBD presence, with accessibility to public transport from all surrounding areas will minimise the impact on our staff, clients and the business, as well as provide access to a pool of new staff to support our growth strategy,” said Mr Dower.

Salmat will join other corporates at 485 la Trobe Street including Catholic Insurance, BP Elite and MV Anderson Accountants.

Leon Kriewaldt of Tenancy Solutions represented Salmat and Phillip Cullity of Savills advised Lendlease.