This article is from the Australian Property Journal archive
OIL and gas exploration company Oil Search has signed a 12-year lease at Dexus Property and Cbus' 1 Bligh St in the Sydney CBD.
Oil Search has leased 3,274 sqm on Levels 22 and 23 commencing 1 October. The ASX-listed company is Papua New Guinea’s largest oil and gas producer.
Oil Search managing director Peter Botten said 1 Bligh St is a world class building with a commitment to sustainability, which is aligned with the company’s operating philosophy of sustainable development.
The property has been awarded a 6 Star Green Star Office Design v2 Certified rating and is designed to achieve a 5 Star NABERS Energy rating – Australian and world best practice. Cadigal Office Leasing and Jones Lang LaSalle represented the 1 Bligh co-owners during the transaction, whilst LPC Australia acted as tenant advisers to Oil Search.
Dexus Property Group CEO Darren Steinberg said the limited supply in the premium office market makes 1 Bligh the clear standout for tenants considering sustainable properties in the Sydney market.
“We are expecting conditions in the Sydney market to improve during the next year in line with a broader recovery in the business cycle. Premium office properties such as 1 Bligh will further benefit from a recovery in business confidence and increased employment certainty,” he added.
Two floors are currently under offer which leaves only three high rise whole floors remaining for lease at 1 Bligh of approximately 1,630 sqm each, together with several part floor suite offerings ranging from 160 sqm up to 800 sqm.
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