This article is from the Australian Property Journal archive
PROPERTY developer JQZ is progressing with plans for a new office tower within its $1.6 billion lower north shore development.
It has appointed CBRE and Colliers to lease the 558 Pacific Highway tower, within the 88 By JQZ project, which will incorporate 637 apartments, a new retail and dining project, supermarket, civic plaza and public library.
“Given the lack of available contiguous office space on Sydney’s north shore, the project will fill a major gap and appeal to a broad range of occupiers seeking new corporate headquarters,” CBRE’s North Sydney managing director Rachel Vincent said.
The building has floor plates spanning from 1,000 sqm. To 1,470sqm, outdoor terraces on levels two and 8, surrounding amenity and direct connectivity to St Leonards station via an underground, through-site link would be key tenant drawcards.
The 16,738 sqm office tower is due for completion in late 2022, with the entire 88 by JQZ project due to be finished the following year.
Net office rentals will average $850 to $900 per sqm.
JQZ’s founder and managing director Jianqiu Zhang said the A-grade office tower was central to the group’s plans to develop a new, “live work and play” precinct on Sydney’s north shore while tapping into growing demand for high quality, suburban workspaces.
“We identified a clear gap in the St Leonards market, which is dominated by aging office stock and where a growing number of buildings have been converted to residential use – leaving limited quality options for office occupiers,” Zhang said, adding that a key differentiator for the building would be its amenity, including a four level retail and dining precinct, featuring a laneway eat street, bars, alfresco cafe’s and lifestyle offerings.
Designed by PTW Architects, the 558 Pacific Highway tower will incorporate a sculptural glass façade, marble lobby and offer views to the city and over the new civic plaza and St Leonards Town Centre.
Colliers’ Dan Walker said the flexible floor plates would accommodate both multinational, multi-level corporate headquarters and boutique creative space. It is targeting 5-star Green Star and 5-star NABERS ratings.
The building will also include 121 commercial car parking spaces and 316 public car parking spaces.
