Arrowtex expands in Richmond office
Arrowtex – the country’s largest generic drug supplier – has increased its tenancy at the Industry Lanes office complex, in Church Street, which is this part of town is the Richmond/Cremorne border.
The pharmaceutical giant has committed to another 2200 square metres at 459 Church St.
It already leased 4500 sqm at the recently completed complex.
With 18,000 sqm of lettable area in two buildings, of five and 10 levels, other tenants include Hub Australia, Icon, Jellis Craig, Johnson Partners and MC Saatchi.
Colliers’ Travis Myerscough has been representing the landlords, Abacus Property Group and Salta.
With the latest Arrowtex deal, the complex is 96 per cent full, he said (story continues below).
Elsewhere in the area, Alfasi Group recently completed a 10 level, 19,798 sqm office with a rooftop terrace at 510 Church St.
Now 50 per cent owned by 360 Capital, that building is also over 90pc occupied.
In neighbouring South Yarra, meanwhile, Goldfields Group last month secured Great Southern Bank to a floor of its new 20 storey office at 627 Chapel St, which contains a rooftop bar, Beverly.
Arrowtex, which provides a third of all drugs supplied to the Pharmaceutical Benefits Theme, is co-founded by Dennis Basta, reported to have a net worth of c$1 billion.
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