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Investa Office Fund (ASX:IOF) has inked a 12-year lease agreement with Telstra Corporation Limited (ASX:TLS) at 16-18 Mort St, Canberra.

 

The lease will begin in November this year and will occupy all six floors of office accommodation of the building.

 

Under the deal, the building will be refurbished, upgrading the 2,200sq m floors to accommodate Telstra’s specifications.

 

The ground floor will be renovated to include a new Telstra store and cafe.

 

IOF Fund Manager Toby Phelps says Investa is continuing its focus on tailoring office space solutions for companies such as Telstra. 

 

Investa Office Fund generated a net profit of $53.7 million for the first half of the current financial year.