Glenmont makes a $44m move

PROPERTY syndicator Glenmont Properties is moving to St Georges Terrace and into the 10th floor of the AXA building.

The move to 111 St Georges Terrace follows Glenmont’s $44 million syndication of the building this year, making it one of the company’s biggest deals to date. The name of the building is also facing some alternations as it’s understood Glenmont Properties is in negotiations for naming rights.

“We’re looking to achieve several things,” Glenmont executive director Jon Stewart said.

“Our staff numbers from the beginning of the year to the end of the financial year have gone from 18 to about 38. There’s also the attraction of being in a central location. And we’re looking to do a nice job on our office there and that will be useful in showing prospective investors what can be done on a floor of the building.”