Incitasecurity Everything About Security
The march of the information tech tenants encroaching into traditional office markets continues unabated, with the colossus, Apple, taking up residence in the prime of Martin Place.
Its new digs, at 20 Martin Place, the former home of the ANZ Bank, will be the mobile phone giant’s Australian headquarters covering six floors of office for the next 10 years.
The retail Apple store will remain at its current George Street site on the corner of King Street.
United States real estate group, Pembroke, which paid $95 million for the Martin Place office block, will house Apple’s office staff, who are currently spread between two Sydney offices at 255 Pitt Street and 77 King Street.
Martin Place is undergoing a major rejuvenation and is becoming the hub for the IT world, with LinkedIn at 1 Martin Place. The offices of Facebook, Twitter and financial and tax preparation software group Intuit are nearby.
CBRE office services senior director Jenine Cranston, who advised on the Apple lease, said “IT and finance, which are the growth sectors at present, are competing for the same graduates and new workplaces have to be the platform for a company’s brand.”
Amazon, which has a 2400-square-metre office at 55 Hunter Street in Sydney for its web services, is looking for between 8000 square metres and 10,000 square metres, or about four floors, in a prime location.
That amount of space is available at Charter Hall’s 333 George Street, and Aurora Place at 88 Phillip Street to replace law firm Minter Ellison, which has moved to Governor Macquarie Tower.
JLL’s national director and head of strategic research, Australia, Andrew Ballantyne, said if Amazon moved to George Street, it would add to the cluster of technology providers forming in the city.
Pembroke acquired the 20 Martin Place site in 2011 in its first acquisition in Australia. The 19,080-square-metre, 21-level tower is expected to be completed late next year.
Google is also in the market for more than 60,000 square metres of space, with suggestions head office staff are showing an interest in 1 Carrington Street when it’s redeveloped, and possibly putting the support staff at a new Google-designed campus-style site at White Bay, in the Bays Precinct, Balmain.
Software provider Atlassian is another with a leasing mandate in Sydney as it looks to expand out of its current 341 George Street office. Leasing agents also said the group has cast its eye at 333 George Street.
Following its takeover of Wotif, the travel group Expedia, needs more space and could look at spare floors at Barangaroo South.
[“source – smh.com.au”]