This article is from the Australian Property Journal archive
THE US Consulate General Sydney will be moving to North Sydney after 25 years at the MLC Centre in Martin Place.
The United States has leased 6,000 sqm across levels 5 to 10 at 50 Miller Street from property investor Sumner Capital and its co-investor Prime Super on a 12-year deal with options.
Craig Dolman of Cadigal negotiated the lease.
Sumner Capital and Prime Super acquired the 10,000 sqm, 10-level building in 2014, and they expect to lease the remaining 4,000 sqm of space in the coming weeks.
The building has undergone a substantial refurbishment including a new building entrance, upgraded foyer, retail area and lift system, and high-quality end-of-trip facilities, taking it to an A-grade building with a 5-star NABERS rating.
Dolman said demand is strong for commercial office space in North Sydney as a result of improving transport and infrastructure with the Sydney Metro and Victoria Cross Integrated Station Development.
Research by Cadigal shows demand levels across the Lower North Shore have increased at an average of 28% per year over the three years to March 2018.
NBN Co will consolidate five Sydney offices into 20,364 sqm within the 35-level 100 Mount Street building in North Sydney.
Zurich Insurance has proposed a $250 million office tower to be built above its properties at 5 Blue Street and 118 Mount Street, which would deliver a further 20,000 sqm of space.
Australian Property Journal
