Co-work space company WOTSO break Zetland lease drought

Co-work space specialist WOTSO has leased a large-scale office space in Zetland.

It has committed to 2,600sqm at 1-5 Link Road in the recently developed Paragon development. 

The five-year lease – attached to another five-year option, is the largest office lease in the South Sydney suburb for several years.

The lease is WOTSO’s first foray into the South Sydney market, adding to their existing co-work facilities at North Strathfield, Pyrmont, Penrith, Bondi Junction and Neutral Bay. 

LJ Hooker Commercial South Sydney Director William Tong managed the lease on behalf of developer, HiFu Capital. 

“WOTSO’s lease represents the largest office commitment in Zetland for more than two years,” he said.  

Whilst details of the lease are confidential, Mr Tong said A-grade office space throughout the wider South Sydney market was commanding between $500-$550psm.  

“The shortage of quality office stock has driven up rents by about 30% in the last three years,” said Mr Tong.