This article is from the Australian Property Journal archive
Stockland has completed the construction of the new $351 million Optus HQ in Sydney’s Macquarie Park.
Stockland has commenced the internal fit out of the new 84,000 sqm Optus HQ, comprising six campus-style office buildings with retail facilities, a child care centre, gymnasium, food court and parking for 2100 cars, will be the largest single tenant campus in Australia on completion in mid 2007.
The Optus HQ will achieve a 4.5 star Australian Building Greenhouse Rating.
Stockland’s chief executive of commercial and industrial Steve Mann said the Optus HQ development has generated substantial interest in Macquarie Park from different industries, including government, property, business services and engineering.
“Stronger demand has driven up net absorption, resulting in a downward trend in the office vacancy rate, which is now below 9.5%, with no A-grade contiguous space available above 5,000 sqm.”
Stockland has also signed up Janssen–Cilag Pty, a member of the Johnson and Johnson Family of Companies, a five year pre lease at Stockland’s 66 Waterloo Rd development site in Macquarie Park.
The Heads of Terms was negotiated in December 2005 for the pre lease of approx 3,100 sqm, which represents 30% of the property, which includes the ground and first floors at a net rent of $285 per sqm NLA.
Janssen–Cilag joins Optus and other high profile tenants at Stockland’s properties in Macquarie Park including Mayne Logistics, Sony and Kenwood Electronics.
The 10,200 sqm 66 Waterloo Road development is scheduled for completion in January 2007.
Riverside Corporate Park, another Stockland development at Macquarie Park, is experiencing increasing levels of interest.
The site has a development consent for 28,000 sqm NLA and 995 car parks, with the possibility of an additional 26,000 sqm of additional NLA under the recently approved LEP.
By Kathryn O’Meara
