Asset Plus signs 10-year lease for Munroe Lane property

Asset Plus has announced the signing of a lease agreement for approximately 51% of level 6 at 6-8 Munroe Lane.

The lease, which covers around 1,400 square metres, is for a duration of 10 years, with the tenant having a break right exercisable on the sixth anniversary.

The agreement is expected to increase the property's committed occupancy from 65% to 74%.

The face rent payable by the tenant is $465 per square metre.

Asset Plus will be responsible for the fit-out works and will retain ownership of them.

The company said it is continuing to pursue leasing initiatives for the remaining vacant space in the property.