Floors in one the country's most expensive skyscrapers are being rented at almost a third of the original price, as the amount of sublease space on the market begins to ease.

Sources say 450sqm of space in the Chifley Tower at Sydney's Chifley Square has been sublet by the previous tenant, Boeing Australia, for between $500 and $600 per square metre after the aerospace company moved to 10 Bridge Street last year.

Offices in the plush 42-storey building rented for as much as $1400 per square metre during the boom two years ago, and now many are empty following the collapse of Babcock & Brown, which occupied the building.

The Australian