This article is from the Australian Property Journal archive
CO-WORKING brand Spaces, Japanese megabank Mizuho Bank and a global financial sector company have leased a combined 9,000 sqm across the Sixty Martin Place tower, Sydney’s only premium grade building to be delivered this year.
The announcement came as Investa Commercial Property Fund and joint owner Gwynvill Group’s development topped out.
In the largest of the deals, owner of Spaces, International Workplace Group – the world’s largest provider of flexible workspaces – will take 4,500 sqm within the building’s podium across levels one to three.
Mizuho will relocate from 60 Margaret Street and take 1,900 sqm across levels 29 and 30. It has more than 500 branches in Japan and 38 in other countries. The third tenant, who cannot be identified, will take up 2,600 sqm.
Group executive at Investa, Michael Cook, said leasing momentum has been strong, especially in recent months as more and more of the building has been revealed.
The 38,600 sqm tower offers customisable floor plates and panoramic harbour and city views.
The new tenants will join previously-announced Norton Rose Fulbright, which signed up for 9,527 sqm last year at a reported figure of around $1,250 per sqm, as well as Banco Chambers, which will 2,700 sqm.
The Property Council’s latest Office Market Report shows Sydney CBD vacancies came in from 4.6% to 4.1% in the six months to January, as withdrawals continues to crunch availability of space. Net absorption came in at 1,299 sqm over the period, carried by 15,356 sqm in the premium grade market, which saw its vacancy firm from 5.1% to 3.8%.
Sixty Martin Place will occupy the prominent corner of Martin Place, Phillip Street and Macquarie Street. Designed by HASSELL, it is being constructed by Lendlease with completion on track for September. Tenants are expected to start moving in progressively towards the end of this year.
The project is targeting a minimum 6-Star Green Star Office, 5-Star NABERS rating and WELLS platinum.
Australian Property Journal
