Here’s why DEXUS Property Group could lose this anchor tenant

DEXUS Property Group (ASX: DXS) and Investa Office Fund (ASX: IOF) could be in risk of losing a key tenant at their Grosvenor Place building in Sydney.

That’s according to the Australian Financial Review who report that big four accounting firm Deloitte, who are a tenant, have issued the largest request for office accommodation currently in the Sydney market.

Potential new options for Deloitte include the Quay Quarter Tower which is owned by AMP Limited (ASX: AMP) and the commercial Circular Quay Tower which is owned by Lendlease Group (ASX: LLC).

Foolish Takeaway

If Dexus and Investa do lose such a large tenant, it would have a significant short-term impact on them. I do think however that in the medium to long run, there is sufficient demand for Sydney CBD office space to cover the gap.

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Motley Fool contributor Kevin Gandiya has no position in any of the stocks mentioned.

You can follow Kevin on Twitter @KevinGandiya.

The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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