An architectural firm has signed a five-year lease at 25 Bligh Street, Sydney, as tenancies in the busy CBD precinct continue to be highly contested.

Liz Braithwaite and Chris Rowe of Savills Office Leasing negotiated the lease at $1,230 per sqm on behalf of commercial real estate agency, Kingsmede, saying the new tenant “leapt” at the opportunity.

“Good quality existing fitted suites are leasing rapidly in comparison to open-plan refurbished spaces,” Ms Braithwaite said.

This deal was actioned from the back of an upcoming lease expiry and Ms Braithwaite said this asset is proving to be in high demand.

“This is the third leasing transaction within this building that we have completed in the past six months, proving continuous demand for sub 300sq m fitted opportunities in the B Grade market,” she said.