J U LY 17
SYDNEY OFFICE UPDATE LUXE
WORKPLACES
Offices more like homes and hotels
FLEXIBLE WORKSPACE
Business are seeking flexible workspace options
No.1
BENT STREET POLISHED YET HOMELY FOOD
61 Y O R K S T R E E T
2 | SYDNEY OFFICE UPDATE
CONTENTS RENTAL GROWTH TAKES A BREATHER
WHAT’S INSIDE
Looking back over the first six months of 2017, we’ve negotiated many deals at record high rents with low incentives in our B Grade office assets. Commercial buildings that once achieved rates of $750 - $850psm in Q1/2 of 2016 are now achieving $1,000 - $1,100 psm in Q1/2 of 2017. However we’re starting to see a pause in transactions over $1,000psm. In the month of June 2017, we saw tenants starting to look further West or South of Martin Place in order to find better value space under $850psm gross.
04 NO.1 BENT STREET An Exciting food and wine dining experience at Barangaroo.
07
FLEXIBLE WORKSPACE
This pause has triggered minor rental reductions, by about 5%, in some of our assets to kick start deals and ensure stock being marketed for lease has minimal downtime between tenants. Tenants displaced from AMP buildings at 50 Bridge Street and Loftus and Young Street are still scattering through the market trying to find value space. The competition and limited supply is keeping inspection rates high, but actual transactions seem to be taking a lot longer. When this latest wave of displacement tenants settles towards the end of 2017, I believe the rapid rate of rental growth may reach a plateau. The current shortage of stock on the market means our leasing team are now doing more deals off market. Transactions are being finalised from a backlog of tenant enquiries and our substantial database, without the need to market space online. Do you have a vacant property? Get in touch with us we offer an obligation free, no cost marketing package, including professional photography, extensive web site marketing and insertion in this digital leasing magazine circulated to over 10,000 Sydney businesses. All the best,
11 LUXE WORKPLACES 15 C A S E S T U D Y 16 E N D O F T R I P 18 I N D U S T R Y S P E A K 19 F O C U S L I S T I N G S 21 J U N E T R A N S A C T I O N S
KEY ECONOMIC DATA: Vacancy rates for Sydney CBD: Steady at 6.2%
Anthony Harris M: 0409 319 060
Disclaimer: Precaution has been taken to establish accuracy of listing details herein but does not constitutue any representation by the owner or agent
Cash rate: Unchanged at 1.5% Australian unemployment rate: 5.5% (May 17, seasonally adjusted) Ray White Commercial Group Nationally July 2017: Total Trading Value $440m (LY $211m) 108% increase on June 2016
SYDNEY OFFICE UPDATE | 3
OUR PEOPLE WE BEGAN RAY WHITE COMMERCIAL (OFFICE LEASING) SYDNEY IN 2001 TO HELP OWNERS AND TENANTS FIND THE RIGHT PROPERTY FOR THEIR BUSINESS. We’ve built a team of professional real estate agents who put your interests at the centre of everything we do. As part of the Ray White Group, the largest real estate group in Australasia, we have the strength and scope of an international business, with the local knowledge needed to deliver premium results. Being owner-led, we have a personal commitment to your success. Our Sydney Office Leasing team has eight leasing agents working solely on the Sydney CBD office market. We specialise in: easing and sales of office space in L Sydney CBD ease assignment and subleasing of L surplus premises for tenants
ANTHONY HARRIS
JEREMY PIGGIN
Director in Charge 0409 319 060 aharris@raywhite.com
Director 0413 336 161 jpiggin@raywhite.com
JONATHAN LAVERTY
ANDREW TELEPIS
Consultant 0413 583 338 jlaverty@raywhite.com
Director 0415 972 696 atelepis@raywhite.com
CHRISTIAN MINARDS
ELIZABETH BRAITHWAITE
Director 0447 777 037 cminards@raywhite.com
Property Executive 0434 305 588 ebraithwaite @raywhite.com
ANDREW EDWARDS
NAOMI VILAR
Sourcing office space for tenants roperty Management of strata P offices
Property Executive 0411 346 232 aedwards@raywhite.com
(02) 9249 3709
Property Executive 0431 209 888 nvilar@raywhite.com
NICHOLAS YEOH
JESSIE BATES
Property Analyst 0415 566 541 nyeoh@raywhite.com
Team Assistant (02) 9249 3768 jbates@raywhite.com
4 | SYDNEY OFFICE UPDATE
No.1
BENT STREET CAN MIKE MCINEARNEY DO NO WRONG?
ONE OF THE NICEST CHEFS IN THE BUSINESS, MIKE HAS TAKEN HIS POLISHED YET HOMELY FOOD FROM THE INDUSTRIAL WAREHOUSE SPACE OF KITCHEN BY MIKE IN ROSEBERY TO THE CIT Y, WITH THE OPENING OF NO.1 BENT STREET LAST YEAR - AND THE RESULTS ARE DELECTABLE. He began his career at Sydney’s beloved Rockpool and honed his skills overseas at the Michelin-starred Pied a Terre among others, then went full circle to return to run the Rockpool kitchen. Mike believes in the power of food as medicine and his menu features sustainably and seasonally sourced ingredients, house-baked sourdough, and that seemingly effortless simplicity that comes from a highly skilled chef.
Be sure to try something from the wood-fired oven - smoke delicately flavours the goat’s cheese souffle and ash-cooked eggplant, and the fire works it’s magic on Hapuka fillet and lamb. Or put your faith in Mike and order ‘Mike’s Menu’ ($80pp).
ORDER A SERVE OF MIKE’S BREAD HE SPENT A YEAR LEARNING HOW TO MAKE THE PERFECT SOURDOUGH AT SYDNEY’S IGGY’S SOURDOUGH.
ONEBENTSTREET.COM.AU/HOME TEL. 02 9252 5550
SYDNEY OFFICE UPDATE | 5
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THOUGHT LEADERSHIP
DEXUS PLACE
SYDNEY OFFICE UPDATE | 7
FLEXIBLE WORKSPACE
OPERATORS NOW COMPETING WITH LESSORS
With businesses needing flexibility to scale up and down, a more fluid approach to how a workforce is employed is becoming the norm. From hiring freelancers to complete a project, to bringing on a team of contractors during a busy time or as part of an expansion strategy - businesses are seeking flexible workspace options. Is this a trend or a permanent change in how we work? And more importantly, can landlords compete with serviced office and coworking office suppliers?
WHEN I SPEAK WITH TENANTS ABOUT WHAT THEY WANT IN AN OFFICE LEASE THE ANSWERS ARE PRETTY CONSISTENT. •
We want fitted space built to a high standard
•
We want to minimise capital costs on fit out and furniture
•
We don’t like the cost and hassle of a make-good
•
We want flexibility to upsize or downsize our space as our business changes
•
We want to minimise the capital tied up in bonds for the lease term
•
We want an office environment or building with like minded people, with business synergies and networking opportunities
•
We want to be in a quality building with good services and high quality End Of Trip facilities
•
We want high speed data.
COMPARE THIS WITH TRADITIONAL OFFICES CURRENTLY FOR LEASE IN SYDNEY CBD. •
Vacant office space for lease with no fitout or furniture
•
The tenant has to fund the fit out cost, which might include a two month fit out period and approximately $700 - $900 psm to fit out
•
The tenant has to undertake a full make good, which might include a one month make good period and a cost of around $150 - $250 psm.
•
The tenant has to lock in a bond of 6 to 12 months rental
•
There’s no flexibility to upsize or downsize without significant fees and time periods associated with subletting, assigning or surrendering a lease.
•
On many leasing deals lease incentives are now sub 15%, meaning a majority of capital costs are now a capital cost to the tenant.
Flexible work space, serviced offices and coworking environments offer tenants everything they want, and more. Very often flexible work space is being offered at a price lower than direct space due to the bulk buying power and larger lease incentives on long lease terms secured by these larger serviced operators.
8 | SYDNEY OFFICE UPDATE
WHO ARE SYDNEY’S FLEXIBLE WORKSPACE PROVIDERS ? COMPANY
SYDNEY CBD LOCATIONS
WeWork
333 George St, 5 Elizabeth St, 100 Harris St Pyrmont
Regus
1 Market St, 95 Pitt St, 201 Sussex St, 20 Martin Pl, 135 King St, 52 Martin Pl, 2 Park St,
Servcorp
Barangaroo, Chifley Tower, Gateway, 44 Market St, MLC Centre
The Executive Centre
Aurora Pl, 1 Bligh St , Three International Towers, 1 Bligh St, Australia Square, Governor Phillip Tower
Compass
1 O'Connell St and 9 Castlereagh St
United Office Services
20 Bond St, 66 Clarence St
Gravity
50 Carrington St
Clarence St Professional Offices
111 Elizabeth St, 65 York St
Hub Australia
223 Liverpool St, 101 William St.
Work Club
99 Elizabeth St
Christie Corporate
3 Spring St
Tank Stream Labs
17 Bridge Street
Co Ten
227 Elizabeth Street
WHAT WILL LESSORS NEED TO DO TO ADAPT I believe Lessors will need to compete harder to provide more flexible solutions in order to capture this continuing trend. Key factors lessors need to focus on: •
Fitted and furnished work spaces with fitouts installed by the Lessor
•
Considering shorter term leases at a price differential to longer leases
•
Provision of shared meeting rooms and facilities for tenants to use
•
Increased flexibility built into leases to allow tenants upsizing and downsizing
•
Flexibility on bonds where there is no upfront liability to the Lessor on a lease
•
Sensible and simple solutions on make goods to existing fit outs
•
Creating a business networking environment within the building
Flexible work spaces are increasing their market share in Sydney CBD and their sweet spot is targeting business from 5-30 staff - we’re seeing them win a lot of business. This is taking potential revenue away from property owners that might otherwise secure these tenants in direct office leases.
Lessors will need to try to compete with Flexible Workspace solutions to secure small to medium businesses. In order to remain competitive, savvy landlords are now offering flexible workspace solutions in their office towers, such as Dexus and GPT.
SYDNEY OFFICE UPDATE | 9
DEXUS PLACE BY DEXUS Dexus have listened to the needs of tenants and now have two facilities in Sydney - Level 5/1 Margaret Street and Level 15/1 Farrer Place called ‘Dexus Place’.. These facilities provide overflow space for tenants in their buildings, made up of meeting and boardrooms, audio visual conferencing facilities, break out areas and work space areas. Dexus has invested massive capital costs in the facilities and tenants see this as a unique advantage to being in the Dexus portfolio.
SPACE & CO. BY GPT GPT have developed Space&Co. as a direct result of understanding the need for a flexible workplace offering an inspiring and innovative design that enables collaboration with a strong focus on building an authentic community. Space&Co. doesn’t require long term contracts; they offer part time hot desks right through to full time desks and offices. This allows businesses to scale up and down their workspace requirements based on the immediate business needs.
10 | SYDNEY OFFICE UPDATE
LUXE WORKPLACES BY ANDREW JOHNSON
28 O’CONNELL STREET
SYDNEY OFFICE UPDATE | 11
OFFICE TREND DRAWING INSPIRATION FROM HOMES AND HOTELS Being in business for over 20 years, we have seen our fair share of office fitout trends at Intermain. In the 90’s, functional minimalism was the norm with developments in IT freeing companies from cumbersome paper and storage requirements. In the early 2000’s open plan was coming to the fore with tenants asking for innovative solutions to create a more fun, stimulating and dynamic environment. Today, one of the standout trends we are seeing is the desire for ‘luxe’ offices that blur the lines between ‘lifestyle’ and ‘work’ and more closely resemble a high-end boutique hotel, coastal resort or aspirational home than a traditional office environment. Tenants regularly ask us to create a workplace that employees love being in, that facilitates productivity, and importantly, doesn’t feel like an office. Key to this is creating comfortable environments that evoke warmth, calm and a general feeling of wellbeing, all qualities that you might expect to find in an exclusive hotel rather than an office space. Tenants are looking for inviting receptions with upscale interiors that make staff and clients alike feel at ease on arrival. We are seeing working café’s integrated to facilitate conversation and create a warmth and buzz. Welcoming kitchens with communal dining tables that resemble smart restaurants and comfortable seating areas that feel like first class airline lounges are high on the wish list. Calming alfresco spaces that facilitate casual meetings, client entertainment and social events are also sought after. Perhaps it’s no surprise that tenants tell us that the
VISIT INTERMAIN.COM.AU FOR MORE DETAILS.
positive association with the ‘holiday’ or ‘restaurant’ experience created in their office helps to attract and retain top talent, foster wellness, reduce absenteeism and promote high performance. It’s also true that this same atmosphere has a positive effect on client perceptions and being able to extend excellent hospitality to clients in-house is a huge bonus for relationship and brand-building.
TIP FOR SUCCESS Creating an office that ‘people want to be in’ means different things to different people. Understanding what a tenant wants to achieve and how they want to work is key to designing the right solution. At Intermain we spend considerable time with our clients at the beginning of a project to get a full picture of their needs, ambitions and the workplace culture they want to foster. We then develop smart solutions tailored to these needs and have seen many clever, well-planned and comfortable spaces have a transformative effect on a company’s culture and productivity.
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TENANT’S PERSPECTIVE
ANTHONY HALAS, VICE CHAIRMAN, SEAFOLLY
SEAFOLLY
Seafolly is light and fun and open. We wanted to form an office space that’s open and light and has those attributes. We have a beautiful kitchen, a beautiful outdoor eating area, and a place where people are just happy to hang out.
W E A R E D E F I N I T E LY F I N D I N G T H AT O U R G O A L O F H AV I N G P E O P L E WA N T T O B E AT W O R K …. I S R E A L LY H A P P E N I N G .
SYDNEY OFFICE UPDATE | 13
TENTANT’S PERSPECTIVE
TRAFF1K DIGITAL
MICHAEL MCDONALD, CEO, TRAFF1K DIGITAL Traff1k is a digital agency focussed on driving our clients’ growth and return on digital investment. With technology advancing every day, digital can be an overwhelming subject for some clients and we have found that our inviting, ‘residential-style’ offices have really helped to put our clients at ease. Instead of meeting in a cold board room, we invite clients to our central high-end kitchen where we make them a coffee and casually interact. From here they also get to see our staff working and how we tick and really feel part of the team. This has helped to break down barriers and has facilitated excellent collaboration.
E Q U A L LY, H AV I N G A N I C E P L A C E T O W O R K T H AT ‘ F E E L S L I K E H O M E ’ H A S H A D N U M E R O U S P O S I T I V E I M PA C T S O N O U R S TA F F W H O G E N U I N E LY L I K E T O B E H E R E .
DESIGNER’S PERSPECTIVE JESSICA MARINIC, DESIGN MANAGER, INTERMAIN Designs that evoke the atmosphere of a smart hotel or luxurious home are proving more and more popular and in recent months, we have seen a trend towards ‘Hamptons home’ inspired fitout designs, as tenants increasingly project lifestyle aspirations on their vision for a workplace. This style is elegant, classic and calming, and welcomes staff and clients to what feels like a comfortable and impressive home environment.
We have achieved this cost effectively by adding defining touches like glass lantern lighting, wicker seating, natural materials, subway tiling and selecting subtle colour palettes. Clever use of space also helps to reinforce the theme. Communal meeting spaces such as central open kitchens and cosy lounge areas go further to evoke the feel of a relaxed and aspirational home environment. A recent example is the fitout of 28 O’Connell Street where we created a Hamptons-theme spec fitout for one of the spaces, which proved very popular, seeing the space leased as installation was being finalised.
ANDREW JOHSON MANAGING DIRECTOR Managing Director of Intermain, an established multi-skilled commercial fitout company focussed on excellent customer service and high quality building standards across building refurbishment, design and construct for corporate offices, ‘make-goods’, retail and hospitality. Intermain work nationally from offices in Sydney, Melbourne and Brisbane and have one of the largest, state-of-the art joinery workshops in Australia. intermain.com.au
14 | SYDNEY OFFICE UPDATE
1300 063 943 www.nexgen.com.au
MOVING OFFICE? Now is the time to look at your Phones, Internet & Network options Moving office is an ideal time to take a look at upgrading your network/internet access, Telephone system or Photocopier. Rather than incurring costs to relocate your telephone services and internet access, Nexgen may be able to supply you with a new state of the art NBN ready telephone system & upgraded services at a lower cost. Relocating your business can be a very challenging and costly experience, especially when it comes to telecommunication services. Nexgen can provide you with a complete telecommunication solution to ensure that your business continues to ope operate without any interruptions.
01 02 NEW SITE SERVICE
Our specialist qualifies what network services are available at your new location i.e. ADSL, Mid Band Ethernet Fibre or NBN.
04 TECHNOLOGY
Our consultants will provide a complete solution to meet all of your business technology requirements. This includes your communications, Photocopiers/Printers, CCTV security & alarm system.
PHONE SYSTEMS
Nexgen’s complete business solution means there is $0 upfront cost when upgrading to a new phone system.
03 WI-FI ACCESS POINT
We offer range of Wi-Fi solutions to suit offices, retailers, schools, medical centres and other businesses.
05
CABLING REQUIREMENTS
A technician assessment is completed to ensure that the right infrastructure is available to meet your business needs.
If you are planning to upgrade your technology, we will help you decide & tailor a solution that best fits your business requirements. Our experienced specialists will guide you through the entire process & help you choose the right solution.
SYDNEY OFFICE UPDATE | 15
CASE STUDY: TENANT:
ODYSSEY PRIVATE EQUITY
SPACE: EY CENTRE, 200 GEORGE STREET, SYDNEY LEASING AGENT: ANDREW TELEPIS 0415 972 696
WHAT WE DO We invest in profitable, mid-sized growth companies in Australia and New Zealand. We particularly look for companies we believe have potential to be future leaders in their market segment and currently manage a $275 million fund, raised from major financial institutions, including Australian superannuation funds. Our investment funds organic expansion, acquisitions, management buyouts / buy-ins and shareholder restructures, in both control and minority equity positions. We’re made up of four partners and our collective experience is drawn from more than 50 private equity investments during our careers - which also gives us a good understanding of what makes a desirable tenancy and office fitout. We work across a range of industries including consumer products, retail, financial services, industrial products and services, equipment rental, distribution, aged care, manufacturing and building products.
WHY WE RELOCATED We’re a new company so it's not exactly a relocation. Our brief to Ray White was that we wanted a prestigious address in the heart of the CBD financial core. That location was critical to us as it was central to most of their clients - making it easy for them to get to us, or for us to reduce down time when leaving the office for meetings. EY Centre, 200 George Street was really attractive to us from a design perspective as well as the environmental features. It has these amazing automated timber blinds and timber shading, which not only looks good but combines with special glazing to create a responsive skin on the outside of the building, contributing to the green credentials of the space.
WE LOVE OUR NEW ADDRESS BECAUSE.. It’s a brand new premium grade building with terrific harbour views and abundant natural light. We never feel shut in and love being able to see the changing weather and harbour activity. It’s in a prime location in the financial core and the on site management team are there to handle anything that crops up. The Six Star Green rating means there’s high volumes of fresh air and locally there are some great restaurants, cafes and gyms. It’s a pleasure to work here. EY Centre, 200 George Street was developed by Mirvac to be the antithesis of a cold metallic office block. The building, co-owned by Mirvac and AMP Capital, was designed by architects, Francis-Jones Morehen Thorp, to embrace innovation and high technology but remain human and organic in form. It has come to life as dual curvilinear forms, optimising harbour views and natural daylight. Materials like natural timber, sandstone and glass are a direct contrast to the other concrete, grey office blocks around us.
16 | SYDNEY OFFICE UPDATE
END OF TRIP THERE’S AN INCREASING DEMAND FOR HIGH QUALITY END OF TRIP FACILITIES IN AUSTRALIA’S CBD OFFICE MARKETS, DRIVEN BY TENANTS.
End of trip facilities usually include bike storage, lockers and showers but savvy asset managers are seizing the opportunity to retrofit a range of new and sustainable amenities in existing office spaces, with some outstanding results coming to the market. This month we focus on the new end of trip facilities at 135 King Street, the home of Ray White’s National head office of over 200 staff.
BUILDING 135 King Street, Sydney, NSW. The building is a 23 level, A Grade office tower and retail shopping complex of approx 32,600 square metres. LESSOR: Investa and Stockland DATE COMPLETED: The retrofitting project took place over four months on-site from May until August, 2016. The entire program (including design and approvals) spanned nine months. The building houses iconic international retail brands H&M and Zara Home on the ground floor, and 23 levels of high quality office space above, creating a combined total of approximately 32,600 square metres.
The new end of trip facilities were launched in August 2016, with an event to introduce tenants and building staff to the new offering. 350 guests were treated to healthy smoothies, complimentary massages and body health scans by Virgin Active, as well as a tour of the new facilities. The event showcased Investa’s firm commitment to engaging their tenants in how they manage the building and creating useful spaces for people who work in the building. Investa also ran a competition among the tenants to name the new facilities. Many creative entries came in but the space was eventually christened, Transition Zone. The lucky winner enjoyed a night’s accommodation at the glam QT Hotel Sydney.
SYDNEY OFFICE UPDATE | 17
ENVIRONMENTALLY FRIENDLY
OVERVIEW
LOCATION
The new facilities provide a more accessible, clean and green working environment for tenants who can also enjoy a string of new luxurious features. The facilities were designed to foster work-life balance and provide a smooth and comfortable transition between exercise and the workplace. It’s now easier for tenants to encourage their employees to live a healthy lifestyle and get to and from work in an environmentally friendly way, as well as improving the green credentials of their business. Some examples of the initiatives include LED lighting on movement sensors, timers on key equipment and water efficient shower fittings and tapware, all installed to minimise the carbon footprint.
Basement Level 2 ESTIMATED COST $1.9 Million BIKE FACILITIES 98 bicycle racks in a secure cage area, with three different types of racks to accommodate cyclist preferences, including hanging racks, stack racks and push-in lock racks. SHOWERS, LOCKERS AND OTHER FACILITIES The new site is fully air-conditioned and features over 200 lockers, ironing boards, GHD hair straighteners, televisions, drying cupboards for storage of exercise clothes, a shoe polishing machine, chilled water and daily fresh towel service.
Tenants also have the option of using the on-site dry cleaning service located in the bicycle storage area which offers a 24 hour turn-around time for clothes. There are currently seven new male showers, five female showers and one disabled toilet and shower, however the design features a flexible wall which can be moved if the ratio of male to female showers needs to be altered.
LESSORS CONTACTS JAMES FREEMAN, INVESTA General Manager, Sydney CBD Portfolio KYM GARDNER, INVESTA Senior Property Manager
18 | SYDNEY OFFICE UPDATE
INDUSTRY SPEAK
WHAT T YPES OF SECURIT Y ARE REQUIRED UNDER COMMERCIAL LEASE? WHEN YOU’RE SIGNING UP TO A NEW COMMERCIAL LEASE IT’S A G O O D I D E A T O H AV E A T R U S T E D L AW Y E R REVIEW YOUR LEASE B E F O R E S I G N I N G I T, T O ENSURE IT’S THE RIGHT MOVE FOR YOU AND YOUR BUSINESS. We spoke to JHK Legal about what types of security are required when you’re entering into a commercial lease and what you need to look out for. WHAT IS A COMMERCIAL LEASE? A commercial lease is an agreement to lease a commercial premise, for example, an office building. A commercial lease grants a tenant exclusive possession of the commercial premises for a certain period of time. As part of the agreement, a landlord may request security when negotiating a lease. This might be in the form of a cash bond, bank guarantee, personal guarantee or charging clause, and it’s not uncommon for a landlord to ask for multiple securities. WHAT IS A CASH BOND? A cash bond is physical monies provided by the tenant to the landlord and is usually equivalent to six or twelve months worth of rent. It can also be a bank cheque and is deposited by the landlord to guarantee performance of the tenant’s lease obligations.
WHAT IS A BANK GUARANTEE? A bank guarantee is an undertaking from a bank for a designated amount to guarantee payment to the landlord if called upon. The tenant will need to have the designated amount held in an account with the bank that issues the guarantee. If the tenant defaults on the lease, the landlord can call on the bank guarantee and convert the guarantee into the cash equivalent of the amount designated in the guarantee upon a tenant’s breach of lease obligations. WHAT IS A PERSONAL GUARANTEE? A personal guarantee requires an individual (often a Director of a Company or Shareholder) to guarantee the obligations of the tenant (often a company or trust). This means that if the tenant fails to meet its obligations pursuant to the lease, action can be taken against the guarantor by the landlord. There’s no requirement for the landlord to take action against the tenant first. Caution should be taken when providing a personal guarantee under a lease and advice should be sought regarding the terms of the guarantee and the legal consequences that arise when entering into a guarantee. WHAT IS A CHARGING CLAUSE? A charging clause is normally worded as: “I charge all of my property whether real or personal held now and in the future as security for the payment of any moneys that I may owe you at any time”.
The effect of a charging clause in a commercial lease means that the landlord becomes a secured creditor who can, as an example, lodge a caveat over any land owned by the person granting the charge, which means you can no longer deal with the land without first dealing with the landlord’s security. Caution should be taken when signing a lease which contains a charging clause. WHAT DO YOU NEED TO LOOK OUT FOR? You should carefully review any commercial lease agreements, and be wary of any charging clauses ,personal guarantees or other security requirements contained within. It is not unusual to negotiate on the terms of the lease in relation to the security requirements, so that a satisfactory position is reached for all parties involved. It is important to seek legal advice to make sure you are aware of your obligations, and terms can be negotiated if necessary.
JHK Legal is a law firm with offices in Sydney, Brisbane, Sunshine Coast and Melbourne. We work across multiple areas of law and jurisdictions to provide outcome-focused solutions that are tailored to your commercial needs. JHK Legal specialises in the areas of commercial litigation, dispute resolution, property, debt recovery and insolvency. We regularly provide commercial lease advice to clients.
I F Y O U H AV E A N Y Q U E S T I O N S A B O U T A N E W L E A S E , P L E A S E D O N O T H E S I TAT E T O C A L L U S O N 02 8239 9600 O R V I S I T J H K L E G A L .C O M . A U
FOCUS LISTINGS 1/1 BARRACK STREET
SYDNEY OFFICE UPDATE | 19
Warehouse space is a rare commodity in the CBD. At 1 Barrack Street we have levels 1 and 2 for lease independently as 200sqm floors or together as 400sqm. Both suites feature timber floorbaords, high ceilings, own kitchen, own bathroom and showers. Agent: Anthony Harris M: 0409 319 060
1/23 HUNTER STREET
Currency House is one of Sydney’s better strata title buildings perfectly positioned on the corner of Pitt Street and Hunter Street. We have level 1 for lease comprising 277sqm and also level 4 at 332sqm. Both floors have existing fit outs in place and are ready immediately. Agent: Naomi Vilar M: 0431 209 888 & Anthony Harris M: 0409 319 060
61 YORK STREET
Take your choice of 3 whole floors for lease in this 10 year old building. Each floor has its own bathroom, kitchen, and large enclosed balcony. Independent air-conditioning and full secuirty to each self contained floor. Agent: Jeremy Piggin M: 0413 336 161 & Anthony Harris M: 0409 319 060
PART LEVEL 3/25 LIME STREET
The energy around the development at Barangaroo with new restrurants, bars, and cafes is creating a resurgence of interest in the King Street Wharf precinct. Is there a better place to work than alongside Sydney Harbour with your own balcony, onsite kitchens and bathrooms? Agent: Andrew Edwards M: 0411 364 232
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RECENT TRANSACTIONS A d d re ss
A re a (S q m)
Le a se St a r t Da t e
Te r m ( Ye a r s)
G ross R e nt ( Psm)
Le a se
1203, 50 Margaret
122.7
April 2017
2
$750
CodeHouse
Part 3, 99 York Street
144
February 2017
4
$675
Vision Property
Level 2, 104-106 Commonwealth Street
300
May 2017
3
$495
Clifford Wallace
2b, Level 31, George Street
147.7
June 2017
5
$1,649
Odyssey
502, 28 O’Connell Street
164
May 2017
5
$1,095
Klein & Co
Level 10, 111 Elizabeth Street
753
January 2017
7
$845
16 Wardell Chambers
203, 46 Market Street
206.9
April 2017
5
$750
Medicolegal Psychiatry
801, 50 Margaret Street
154
March 2017
5
$950
Infrasol Group
2, 28 O’Connell Street
478
May 2017
5
$935
Davidson Consulting
Suite 1220, 111 Elizabeth Street 378
October 2016
4
$845
MC Medico Legal
Part Level 11, 77 Castlereagh Street
193.3
May 2016
5
$795
Morris Hayes & Edgar
Level 3, 27 Macquarie Street
228
March 2017
5
$795
I Courts
20, 227 Elizabeth Street
902
September 2016
5
$775
Stacks / Goudkamp
1301, 28 O’Connell Street
152.8
February 2017
3
$995
Keystone Wealth
11, 28 O’Connell Street
483.2
December 2016
3
$985
Jobadder
Part level 7, 32 Martin Place
283.7
October 2016
5
$690
RX Management
Level 2, 36 Hickson Road
133.6
November 2016
3
$900
Monex
13, 131 Macquarie Place
523
November 2016
5
$950
Crescent Wealth
3, 4 Martin Place
226
December 2016
3
$820
e5 Workflow
SYDNEY OFFICE UPDATE | 21
JUNE TRANSACTIONS 6.02/45 CLARENCE STREET Global Data recently leased a partitioned suite at Level 6, 45 Clarence Street from Dexus. The company expanded from a whole floor at 63 York Street of 201sqm. The base rental at 45 Clarence Street was struck at $870 psmpa gross based on a 4 year lease term. This deal was transacted by Andrew Telepis. PART LEVEL 3/99 YORK STREET Vision Property & Finance have chosen to relocate from level 6 down to level 3 at 99 York Street. Offering a proven location and value for money, this space was snapped up shortly after the first inspection. The suite on level 3 of 144sqm was struck at $675 psqm, transacted by Andrew Edwards.
71 YORK STREET Nexgen recently upsized into a 313sqm space at 71 York Street, relocating from 61 York Street. The office was already partitioned and furnished making this an easy move for Nexgen. The deal was struck at $595 psqm and was transacted by Elizabeth Braithwaite.
33 YORK STREET Peach Clinics have opened their first medical clinic in Australia into 130.67sqm fully fitted medical suite. The deal acheived $575 gross per sqm and was in conjuction with Michael Coleman from Habour City Property Group and Naomi Vilar from Ray White.
22 | SYDNEY OFFICE UPDATE
TENANT REP BRIEFS Ten an t N a me
A re a (S q m)
Boyden
300
Melbourne IT
T imimg
Q4 2017
Loc a t ion
Comme nt s
SydneyCBD, Martin Place, Wynard
5 year term
4000 - 6000 Early 2018
CBD, North Sydney, Fringe
3 year term
Visual Risk
525 - 600
1 Dec 2017
Sydney CBD
3 year term + 3 year option
Property NSW
240 - 290
Jul/Aug 2017
Sydney CBD
Fitted Space, Natural Light
Telstra Super
200 - 250
1 April 2018
Sydney CBD
5 year term, End of Trip
NTT Communications
1500 - 1800 Q2 2018
Sydney CBD
5 year term, End of Trip
Bravura Solutions Limited
900 - 1000
1 July 2018
Sydney CBD
5 year term + 3-5 year option
Forager Funds Management
100 - 150
April 2018
Sydney CBD
5 year term + 5 year option
Sarvaas Ciappara Lawyers
170 - 220
10 Oct 2017 Sydney CBD
3 year term + 5 year option
Benevolent Society
3500 - 4000 Q3 - Q4 2017
Sydney CBD & Fringe Areas
5-10 year term + option, disabled access, BDSL +
South Trade International
400 - 500
1 Jan 2018
Milsons Point, North Sydney
5 years + 5 year option
GTA Consultants
600 - 700
May 2018
Sydney CBD
5 year lease, fitted space
Aus Institue of Fitness
625 - 700
Dec 2017
Sydney CBD
Access 2 months prior, parking, transport nearby
MBB
100
Sept 2017
Sydney CBD
2-3 year term, fitted space ideal
Paxus
600
July 2018
Sydney CBD
Existing fitout preferred, medium term, EOT, 2 car spaces
The Vein Institue
150
Q3 2017
Sydney CBD
3-5 year term, fitted ideal
Allstart Solutions Pty Ltd
180 - 300
Q3 2017
Sydney CBD
2-5 year term, fitted ideal
SR Group
350 - 450
Q1 2018
Sydney CBD
3-5 years
BIGCOMMERCE
800 - 1000
1 Aug 2018
Sydney CBD, Sydney Fringe
3-5 years
15 LIME STREET
SYDNEY OFFICE UPDATE | 23
1 BARRACK STREET
FIND YOUR PERFECT SPACE
61 YORK STREET
CENTRAL LOCATION CITY VIEWS 00
24 | SYDNEY OFFICE UPDATE
88 Phillip Street , Sydney Level 28, 88 Phillip Street , Sydney Aurora Place is a landmark 42 storey office building constructed in 2000. The building boasts state of the art services winter garden design. Aurora Place is situated on the northeastern corner of Phillip and Bent Streets adjacent to Botanical Gardens and just a short walk to Martin Place and Circular Quay. - Whole floor tenancy with existing fit out in place - Views over Botanic Gardens and Sydney Harbour - Large open plan cafe style reception - Approx 100 workstations, 11 offices
Area m2:
1375 approx 2
Rent $/m : Rental PA:
$1,251 Gross $1,720,125
Anthony Harris 0409 319 060 aharris@raywhite.com Andrew Telepis 0415972696 atelepis@raywhite.com
SYDNEY OFFICE UPDATE | 25
1 Margaret Street , Sydney Level 16, 1 Margaret Street , Sydney 1 Margaret Street is a prominent A-grade building located in the Western Core of the Sydney CBD, overlooking Darling Harbour. The building completed refurbishment works in 2002, including the facade, foyer, floors and lifts. - Great sublease opportunity to August 2019 - Potential for a longer direct lease - Part floor with existing fit out and furniture - Significant fit out savings - 6 car spaces available
Area m2:
932.4 approx 2
Rent $/m : Rental PA:
$913 Gross $851,468
Andrew Telepis 0415972696 atelepis@raywhite.com Anthony Harris 0409 319 060 aharris@raywhite.com
26 | SYDNEY OFFICE UPDATE
66 Clarence Street , Sydney Level 7, 66 Clarence Street , Sydney 66 Clarence Street is a 13 storey office tower, comprising basement level secure parking, ground floor retail and 11 floors of office accommodation. An extensive refurbishment works program will provide refurbished floors of superior quality office space, providing efficient floor plates and high levels of natural light. 3 star NABERS. - Whole floors and suite refurbished to high standard - Upgraded services, refurbished bathrooms, showers on each floor - Signage / naming rights available for a major tenant
Area m2:
860 approx 2
Rent $/m : Rental PA:
$795 Gross $683,700
Anthony Harris 0409 319 060 aharris@raywhite.com Christian Minards 0447 777 037 cminards@raywhite.com
SYDNEY OFFICE UPDATE | 27
31 Bank Street , Pyrmont Warehouse, 31 Bank Street , Pyrmont 31 Bank Street is a located just 1.5 km from the Centre of the CBD on Blackwattle Bay, adjacent to the Anzac Bridge next to Sydney Fish Markets. The building is a 3 level commercial warehouse which can be leased in one line (preferable) or as individual floors. Rental rate flexible according to Lessor upgrade works. - Level 1 office space overlooking Blackwattle Bay - Existing fit out or can be made good. - Fantastic water views and outdoor balcony - 29 car spaces, 13 in basement undercover, 16 outdoor at extra cost
Area m2:
750 approx 2
Rent $/m : Rental PA:
$350 Gross $262,500
Anthony Harris 0409 319 060 aharris@raywhite.com Anthony Harris 0409 319 060 aharris@raywhite.com
28 | SYDNEY OFFICE UPDATE
630 George Street , Sydney Ground Floor & Mezzanine Level , 630 George Street , Sydney 630 George Street comprises ground and first floor retail areas, plus six upper office levels in one rise. 630 George Street is located in close proximity to Event Cinema's with strong traffic flow both day and night. - Tenancy spread over two floors, ground floor & mezzanine level 1 - Direct street access, private amenities & elevator access - Ideal retail space for fashion, cosmetic, Internet cafe, pool bar, medical centre, drug store & cafe - Abundance of natural light with internal offices
Area m2:
557 approx 2
Rent $/m : Rental PA:
$1,457 Gross $811,549
Elizabeth Braithwaite 0434 305 588 ebraithwaite@raywhite.com Anthony Harris 0409 319 060 aharris@raywhite.com
SYDNEY OFFICE UPDATE | 29
50 Margaret Street , Sydney Suite 402&3, 50 Margaret Street , Sydney 50 Margaret Street overlooks Wynyard Park positioned on top of Wynyard train station and close proximity to Barangaroo via the recently opened Wynyard Walk. The building enjoys excellent natural light and expansive views. Extensive building upgrades to ground floor lobby. - Direct lift exposure with light on 3 sides - Great views over Wynyard Park - Existing recruitment style fit out in place - Reception, meeting rooms, offices, boardroom
Area m2:
500.9 approx 2
Rent $/m : Rental PA:
$950 Gross $475,855
Anthony Harris 0409 319 060 aharris@raywhite.com Jeremy Piggin 0413 336 161 jpiggin@raywhite.com
30 | SYDNEY OFFICE UPDATE
66 Clarence Street , Sydney Suite 901, 66 Clarence Street , Sydney 66 Clarence Street is a 13 storey office tower, comprising basement level secure parking, ground floor retail and 11 floors of office accommodation. An extensive refurbishment works program will provide refurbished floors of superior quality office space, providing efficient floor plates and high levels of natural light. 3 star NABERS. - Prime suite on North side of floor - Superior level of natural light from 3 sides - Upgraded services, refurbished bathrooms, showers on each floor
Area m2:
423 approx 2
Rent $/m : Rental PA:
$850 Gross $359,550
Christian Minards 0447 777 037 cminards@raywhite.com Anthony Harris 0409 319 060 aharris@raywhite.com
SYDNEY OFFICE UPDATE | 31
88 Pitt Street , Sydney Whole Floor 12, 88 Pitt Street , Sydney 88 Pitt Street, Sydney is superbly located in the heart of Sydney's Central Business District. The property is ideally positioned in relation to Sydney's financial and banking precincts and within a short walking distance to George Street. - Your own private balcony with sensational city views ! - Bright and fresh office space of 360m2, plus 62m2 balcony - Brand new kitchen, boardroom, meeting rooms - Abundance of natural light on three sides
Area m2:
360 approx 2
Rent $/m : Rental PA:
$925 Gross $333,000
Jeremy Piggin 0413 336 161 jpiggin@raywhite.com Anthony Harris 0409 319 060 aharris@raywhite.com
32 | SYDNEY OFFICE UPDATE
50 Margaret Street , Sydney Suite 402, 50 Margaret Street , Sydney 50 Margaret Street overlooks Wynyard Park positioned on top of Wynyard train station and close proximity to Barangaroo via the recently opened Wynyard Walk. The building enjoys excellent natural light and expansive views. Extensive building upgrades to ground floor lobby. - Direct lift exposure with light on 3 sides - Grreat views over Wynyard Park - Existing recruitment style fit out in place - Reception, meeting rooms, offices, boardroom
Area m2:
351.4 approx 2
Rent $/m : Rental PA:
$950 Gross $333,830
Anthony Harris 0409 319 060 aharris@raywhite.com Jeremy Piggin 0413 336 161 jpiggin@raywhite.com
SYDNEY OFFICE UPDATE | 33
66 Clarence Street , Sydney Suite 802, 66 Clarence Street , Sydney 66 Clarence Street is a 13 storey office tower, comprising basement level secure parking, ground floor retail and 11 floors of office accommodation. An extensive refurbishment works program will provide refurbished floors of superior quality office space, providing efficient floor plates and high levels of natural light. 3 star NABERS - Subdivided floor refurbished to high standard - Upgraded services, refurbished bathrooms, showers on each floor - Signage / naming rights available for a major tenant
Area m2:
332 approx 2
Rent $/m : Rental PA:
$795 Gross $263,940
Anthony Harris 0409 319 060 aharris@raywhite.com Christian Minards 0447 777 037 cminards@raywhite.com
34 | SYDNEY OFFICE UPDATE
23 Hunter Street , Sydney Whole Level 4, 23 Hunter Street , Sydney Currency House is located in the heart of the financial district of the Sydney CBD, on the corner of Pitt and Hunter Street and provides an opportunity for small to medium sized businesses to secure a quality commercial office suite in this prime location. - Whole floor in Currency House - 3 sides of light with an attractive outlook - High quality fitout with open plan & meeting rooms
Area m2:
332 approx 2
Rent $/m : Rental PA:
$850 Gross $282,200
Anthony Harris 0409 319 060 aharris@raywhite.com
SYDNEY OFFICE UPDATE | 35
23 Hunter Street , Sydney Level 1, 23 Hunter Street , Sydney Currency House is located in the heart of the financial district of the Sydney CBD, on the corner of Pitt and Hunter Street and provides an opportunity for small to medium sized businesses to secure a quality commercial office suite in this prime location. - Whole floor in Currency House - North aspect with views over Hunter Street - High quality fit out with reception, boardroom, meeting rooms - Approx 19 workstations, chairs, own kitchen and bathroom
Area m2:
277 approx 2
Rent $/m : Rental PA:
$795 Gross $220,215
Anthony Harris 0409 319 060 aharris@raywhite.com Naomi Vilar 0431 209 888 nvilar@raywhite.com
36 | SYDNEY OFFICE UPDATE
28 O'Connell Street , Sydney Suite 701, 28 O'Connell Street , Sydney 28 O'Connell encompasses a boutique asset at its best, suited to both creative and traditional style tenants. Ideally located in the centre of Sydney'financial precinct. The building has on-site parking and end of trip facilities. - Brand new fit out installed - Reception, boardroom, meeting room - Full kitchen and breakout area - Approx 24 workstations in tenancy - Terrific light on 2 sides
Area m2:
274 approx 2
Rent $/m : Rental PA:
$995 Gross $272,630
Anthony Harris 0409 319 060 aharris@raywhite.com Elizabeth Braithwaite 0434 305 588 ebraithwaite@raywhite.com
SYDNEY OFFICE UPDATE | 37
19 Martin Place, Sydney , Sydney Part 33, 19 Martin Place , Sydney The MLC Centre is Sydney's tallest office tower and its iconic status dominates the city skyline. The building occupies a prominent position in the Central Business District of Sydney, bounded by Martin Place, Castlereagh and King Streets, within the city's prime core precinct. - Sub lease until March 2023 - Existing legal style fit out in place - Approx 10 executive office, 10 workstations - Reception and 2 meeting rooms
Area m2:
250 approx 2
Rent $/m : Rental PA:
$1,050 Gross $262,500
Anthony Harris 0409 319 060 aharris@raywhite.com
38 | SYDNEY OFFICE UPDATE
66 Hunter Street , Sydney Part Level 10, 66 Hunter Street , Sydney 66 Hunter Street is situated at the intersection of Hunter and Bligh Streets, and is also known as the City Mutual Building. The property is located close to Chifley Square, Martin Place, Wynyard Station and Circular Quay, with Rockpool Bar and Grill at ground level. - FOUR MONTHS RENT FREE from 1 June 2017 - Assign lease to 1 May 2021 - Basic existing fit out in place - Front suite with aspect looking over Hunter Street
Area m2:
232 approx 2
Rent $/m : Rental PA:
$790 Gross $183,280
Anthony Harris 0409 319 060 aharris@raywhite.com Elizabeth Braithwaite 0434 305 588 ebraithwaite@raywhite.com
SYDNEY OFFICE UPDATE | 39
27 Macquarie Place , Sydney Level 7, 27 Macquarie Place , Sydney Kyle House is a character building with art deco features and a magnificent heritage faรงade. The building enjoys direct access to the leafy Macquarie Place Park and is just a short stroll from Circular Quay. - High floor tenancy with great light all 3 sides - Whole floor with secure access - Existing fit out in place that can be adapted - Lovely leafy outlook over Macquarie Place - Potential for furniture to remain
Area m2:
228 approx 2
Rent $/m : Rental PA:
$800 Gross $182,400
Anthony Harris 0409 319 060 aharris@raywhite.com Elizabeth Braithwaite 0434 305 588 ebraithwaite@raywhite.com
40 | SYDNEY OFFICE UPDATE
25 Lime St, King Street Wharf , Sydney Part level 3, 25 Lime Street , Sydney The King Street wharf development provides direct waterfront office accommodation positioned only 10 minutes walk from Martin place. This fast moving dynamic precinct is home to some of Sydney best bars and restaurants and is the new hub for elite businesses such as Macquarie Bank, KPMG and Westpac Bank. - Sensational waterfront suite with views of Darling Harbour - Reception, boardroom, offices and open plan area - Fully Equipped kitchen (dishwasher and stovetop)
Area m2:
165 approx 2
Rent $/m : Rental PA:
$850 Gross $140,250
Andrew Edwards 0411 364 232 aedwards@raywhite.com
SYDNEY OFFICE UPDATE | 41
88 Phillip Street , Sydney Part level 33, 88 Phillip Street , Sydney Aurora Place is a landmark 42 storey office building constructed in 2000. The building boasts state of the art services winter garden design. Aurora Place is situated on the northeastern corner of Phillip and Bent Streets adjacent to Botanical Gardens and just a short walk to Martin Place and Circular Quay. -Ideal space for tech start ups ! -Prime sub lease opportunity at a bargain rental -Grandstand views North over Sydney Harbour -Prime North facing suite with wintergarden, views over Harbour
Area m2:
220 approx 2
Rent $/m : Rental PA:
$990 Gross $217,800
Anthony Harris 0409 319 060 aharris@raywhite.com
42 | SYDNEY OFFICE UPDATE
46 Market Street , Sydney Part 9, 46 Market Street , Sydney 46 Market Street is located on the corners of York, Market and George Streets with the Commonwealth Bank on the ground floor. The building underwent a major refurbishment in 2005/6 including lift upgrades, new foyer, new tea rooms, new bathrooms and refurbished floors. There are male and female showers in the basement. - South facing suite looking over George Street - Sensational light and views over Queen Victoria Building - Existing fit out in place
Area m2:
214 approx 2
Rent $/m : Rental PA:
$925 Gross $197,950
Anthony Harris 0409 319 060 aharris@raywhite.com
SYDNEY OFFICE UPDATE | 43
104 Bathurst Street , Sydney Whole Floor 7, 104 Bathurst Street , Sydney 104 Bathurst Street "International House" is located at the prominent corner of Pitt Street just moments to Town Hall, Galleries Victoria, World Square and Hyde Park. - Penthouse style tenancy on top floor - Two huge outdoor terraces - Own kitchen and bathrooms - Recently paint, great natural light - Air conditioned suite
Area m2:
214 approx 2
Rent $/m : Rental PA:
$550 Gross $117,700
Elizabeth Braithwaite 0434 305 588 ebraithwaite@raywhite.com Naomi Vilar 0431 209 888 nvilar@raywhite.com
44 | SYDNEY OFFICE UPDATE
61 York Street , Sydney Level 11, 61 York Street , Sydney 61 York Street is located on the western side of York Street between Barrack & Erskine streets. Completed in early 2008, and designed by Candalepas & Associates, the building comprises 16 levels of office space with Palomino Espresso at ground and Stitch Bar at basement level. - Fitted whole floor with a large private balcony - Partitioned with reception, meeting room, 2 offices - 12 workstations with power and data - High quality & secured lobby with intercom access
Area m2:
208.3 approx 2
Rent $/m : Rental PA:
$830 Gross $172,889
Anthony Harris 0409 319 060 aharris@raywhite.com Jeremy Piggin 0413 336 161 jpiggin@raywhite.com
SYDNEY OFFICE UPDATE | 45
61 York Street , Sydney Level 9, 61 York Street , Sydney 61 York Street is located on the western side of York Street, between Barrack & Erskine streets. Completed in early 2008, and designed by Candalepas & Associates, the building comprises 16 levels of office space with Palomino Espresso at ground level and Stitch Bar at basement level. - Partitioned whole floor with new paint and carpet - Existing meeting room off reception - Furnished with 22 workstations and chairs - Whole floor with private enclosed balcony
Area m2:
207 approx 2
Rent $/m : Rental PA:
$790 Gross $163,530
Anthony Harris 0409 319 060 aharris@raywhite.com Jeremy Piggin 0413 336 161 jpiggin@raywhite.com
46 | SYDNEY OFFICE UPDATE
61 York Street , Sydney Level 13, 61 York Street , Sydney 61 York Street is located on the western side of York Street between Barrack & Erskine streets. Completed in early 2008, and designed by Candalepas & Associates, the building comprises 16 levels of office space with Palomino Espresso at ground and Stitch Bar at basement level. - Fitted whole floor with a large private balcony - High quality & secured lobby with intercom access - Independent air conditioning & shower facilities are available - Vacant from 1 June 2017
Area m2:
208.3 approx 2
Rent $/m : Rental PA:
$830 Gross $172,889
Anthony Harris 0409 319 060 aharris@raywhite.com Jeremy Piggin 0413 336 161 jpiggin@raywhite.com
SYDNEY OFFICE UPDATE | 47
66 Clarence Street , Sydney Part 9, 66 Clarence Street , Sydney 66 Clarence Street is a 13 storey office tower, comprising basement level secure parking, ground floor retail and 11 floors of office accommodation. An extensive refurbishment works program will provide refurbished floors of superior quality office space, providing efficient floor plates and high levels of natural light. 3 star NABERS. - Subdivisions from 200m2 - Superior level of natural light from 3 sides - Upgraded services, refurbished bathrooms, showers on each floor
Area m2:
200 approx 2
Rent $/m : Rental PA:
$890 Gross $178,000
Christian Minards 0447 777 037 cminards@raywhite.com Anthony Harris 0409 319 060 aharris@raywhite.com
48 | SYDNEY OFFICE UPDATE
1 Barrack Street , Sydney Level 2, 1 Barrack Street , Sydney 1 Barrack Street is situated on the corner of Barrack and Clarence Streets just a few minutes walk from Martin Place. Terrace style building with direct street access from Barrack Street. This is an ideal space for creative users wanting character features but the proximity of being in the CBD. - Direct Street entrance, signage available - Partitioned and furnished. Reception, 2 large corner offices. - Workstations for 16 staff, full kitchen - Own shower, male and female toilets
Area m2:
200 approx 2
Rent $/m : Rental PA:
$725 Gross $145,000
Anthony Harris 0409 319 060 aharris@raywhite.com
SYDNEY OFFICE UPDATE | 49
48 Hunter Street , Sydney Level 7, 48 Hunter Street , Sydney 48 Hunter Street is located close to the intersection of O’Connell and Pitt Streets. Building features include floor by floor security, individual packaged air conditioning, common shower and locker facilities, terrific natural light and a pleasant outlook over Hunter Street. - Whole floor tenancy with own kitchen and bathroom - Existing fit out with reception and boardroom - 2 glass fronted offices looking over Hunter Street - Superb natural light, after hours intercom access
Area m2:
200 approx 2
Rent $/m : Rental PA:
$875 Gross $175,000
Anthony Harris 0409 319 060 aharris@raywhite.com Andrew Edwards 0411 364 232 aedwards@raywhite.com
50 | SYDNEY OFFICE UPDATE
1 Barrack Street , Sydney Level 1 , 1 Barrack Street , Sydney 1 Barrack Street is situated on the corner of Barrack and Clarence Streets just a few minutes walk from Martin Place. Terrace style building with direct street access from Barrack Street. This is an ideal space for creative users wanting character features but the proximity of being in the CBD. - Direct Street entrance, signage available - Partitioned and furnished. Reception, meetings rooms and offices. - Room for up to 16 - 20 staff full kitchen - Own shower, male and female toilets
Area m2:
196 approx 2
Rent $/m : Rental PA:
$750 Gross $147,000
Anthony Harris 0409 319 060 aharris@raywhite.com
SYDNEY OFFICE UPDATE | 51
40 King Street , Sydney Level 6, 40 King Street , Sydney The building comprises of basement car parking, ground level retail accommodation, six upper levels of offices. Each level is fully air conditioned and enjoys excellent natural light by virtue of the building's frontage to both King & Kent Streets. Major refurbishment due for completion by October 2014. - Whole floor fitted sub-lease - Creative warehouse tenancy - Polished timber floors throughout - Excellent natural light and high ceilings
Area m2:
194.2 approx 2
Rent $/m : Rental PA:
$800 Gross $155,360
Anthony Harris 0409 319 060 aharris@raywhite.com
52 | SYDNEY OFFICE UPDATE
27 Macquarie Place , Sydney Mezzanine Gallery, 27 Macquarie Place , Sydney Kyle House is a character building with art deco features and a magnificent heritage faรงade. The building enjoys direct access to the leafy Macquarie Place Park and is just a short stroll from Circular Quay. - Unique Mezzanine Gallery office space in beautiful art deco building - Whole floor tenancy with direct entry from lift - High quality full kitchen with cararra bench tops - Magnificent heritage arch window which overlooks Macquarie Place Park
Area m2:
179 approx 2
Rent $/m : Rental PA:
$775 Gross $138,725
Anthony Harris 0409 319 060 aharris@raywhite.com Elizabeth Braithwaite 0434 305 588 ebraithwaite@raywhite.com
SYDNEY OFFICE UPDATE | 53
63 York Street , Sydney Ground floor, 63 York Street , Sydney 63 York Street is a classic heritage building with a central location. Its compact floor plates allow small companies the prestige of occupying an entire floor. The building is located on the corner of York and Barrack Streets within minutes walk of Wynyard station and Martin Place. - Prime corner position just off Martin Place - Exposure to York and Barrack Street - Timber floors throughout - Only suite to dry usage, no food allowed.
Area m2:
170 approx 2
Rent $/m : Rental PA:
$1,600 Gross $272,000
Anthony Harris 0409 319 060 aharris@raywhite.com
54 | SYDNEY OFFICE UPDATE
25 Lime St, King Street Wharf , Sydney Part level 3, 25 Lime Street , Sydney The King Street wharf development provides direct waterfront office accommodation positioned only 10 minutes walk from Martin place. This fast moving dynamic precinct is home to some of Sydney best bars and restaurants and is the new hub for elite businesses such as Macquarie Bank, KPMG and Westpac Bank. - Sensational waterfront suite with views of Darling Harbour - Reception, boardroom, offices and open plan area - Fully Equipped kitchen (dishwasher and stovetop)
Area m2:
165 approx 2
Rent $/m : Rental PA:
$850 Gross $140,250
Andrew Edwards 0411 364 232 aedwards@raywhite.com
SYDNEY OFFICE UPDATE | 55
33 York Street , Sydney Level 2, 33 York Street , Sydney 33 York Street is a modern quality strata title building situated on the western side of York Street between Erskine and Margaret Street, opposite Wynyard Park. The building benefits from direct lift access to Wynyard Station, on site parking as well as common male and female showers and bicycle racks on site. - Rear half of floor with laneway outlook - Open plan layout with 2 glass fronted offices - Full size kitchen within tenancy - Vacant now, flexible lease terms
Area m2:
163 approx 2
Rent $/m : Rental PA:
$650 Gross $105,950
Anthony Harris 0409 319 060 aharris@raywhite.com Naomi Vilar 0431 209 888 nvilar@raywhite.com
56 | SYDNEY OFFICE UPDATE
28 O'Connell Street , Sydney Suite 501, 28 O'Connell Street , Sydney 28 O'Connell encompasses a boutique asset at its best, suited to both creative and traditional style tenants. Ideally located in the centre of Sydney'financial precinct. The building has on-site parking and end of trip facilities. - Images are from fit outs done for other suites within building - Refurbished open plan tenancy - Terrific light over Hunter Street - Brand new shared kitchen on floor
Area m2:
151.7 approx 2
Rent $/m : Rental PA:
$1,095 Gross $166,112
Anthony Harris 0409 319 060 aharris@raywhite.com Elizabeth Braithwaite 0434 305 588 ebraithwaite@raywhite.com
SYDNEY OFFICE UPDATE | 57
86 Liverpool Street , Sydney Level 1, 86 Liverpool Street , Sydney 86 Liverpool Street is located at the corner of Kent Street, close walking distance to Town Hall, World Square and Chinatown. It is 4 - storey building with ground floor retail and 3 levels of office space. - Whole floor with 2 sides of light - Fit out available subject to discussion with the sitting tenant - Open plan, boardroom, 2 offices, comms room - Intercom access, own tea room & shower
Area m2:
151 approx 2
Rent $/m : Rental PA:
$630 Gross $95,130
Naomi Vilar nvilar@raywhite.com Anthony Harris 0409 319 060 aharris@raywhite.com
58 | SYDNEY OFFICE UPDATE
46 Market Street , Sydney Suite 8.03, 46 Market Street , Sydney 46 Market Street is located on the corners of York, Market and George Streets with the Commonwealth Bank on the ground floor. The building underwent a major refurbishment in 2005/6 including lift upgrades, new foyer, new tea rooms, new bathrooms and refurbished floors. There are male and female showers in the basement. - East facing suite looking over George Street - Existing fit out, small reception, large boardroom, 4 offices - Large open plan area with 10 desks
Area m2:
147.6 approx 2
Rent $/m : Rental PA:
$875 Gross $129,150
Anthony Harris 0409 319 060 aharris@raywhite.com
SYDNEY OFFICE UPDATE | 59
387 George Street , Sydney Level 10, 387 George Street , Sydney 387 George Street is close walking distance to both Town Hall and Wynyard right near the new Apple flagship store and Sydney's popular shopping strips. Manhattan style opportunity in an award winning heritage building. - Superb high floor warehouse style space - New direct lease on offer - Whole floor tenancy fronting George Street - Toilets, shower & kitchenette on floor - Pressed metal ceilings and opening windows
Area m2:
145 approx 2
Rent $/m : Rental PA:
$875 Gross $126,875
Anthony Harris 0409 319 060 aharris@raywhite.com Elizabeth Braithwaite 0434 305 588 ebraithwaite@raywhite.com
60 | SYDNEY OFFICE UPDATE
50 Margaret Street , Sydney Suite 902, 50 Margaret Street , Sydney 50 Margaret Street overlooks Wynyard Park positioned on top of Wynyard train station and close proximity to Barangaroo via the recently opened Wynyard Walk. The building enjoys excellent natural light and expansive views. Extensive building upgrades to ground floor lobby. - Partitioned suite facing East with views to George Street - Direct lift exposure from lobby - Currently fitted with boardroom, meeting room - Large open plan area with room for 12 - 14 workstations
Area m2:
140.5 approx 2
Rent $/m : Rental PA:
$910 Gross $127,855
Anthony Harris 0409 319 060 aharris@raywhite.com Jeremy Piggin 0413 336 161 jpiggin@raywhite.com
SYDNEY OFFICE UPDATE | 61
106 King Street , Sydney Various floors, 106 King Street , Sydney 106 King Street is a four-storey building constructed in 1888. The premises have direct street access with secure intercom and a single lift servicing the first 3 floors. This is a mixed commercial / residential building which can be leased in one line or individually - Level 1 and 2 leased in 1 line. - Initial lease term until Feb 2018 and then monthly - Large open work plan area with own kitchen and tea room - Existing furniture, partitions and workstations
Area m2:
140 approx 2
Rent $/m : Rental PA:
$995 Gross $139,300
Elizabeth Braithwaite 0434 305 588 ebraithwaite@raywhite.com
62 | SYDNEY OFFICE UPDATE
213 Clarence Street , Sydney Level 4, 213 Clarence Street , Sydney 213 Clarence Street is right in the heart of Sydney, a dynamic region nestled between the Financial District and Darling Harbour with excellent access into and out of the city, positioned on one of Sydney's busiest transport hub's - Town Hall and QVB. - Superb top floor tenancy, self contained - Exposed tubular air conditioning - Own bathrooms and kitchen on your floor - Great natural light from large timber windows
Area m2:
133 approx 2
Rent $/m : Rental PA:
$750 Gross $99,750
Anthony Harris 0409 319 060 aharris@raywhite.com Naomi Vilar 0431 209 888 nvilar@raywhite.com
SYDNEY OFFICE UPDATE | 63
28 O'Connell Street , Sydney Suite 301, 28 O'Connell Street , Sydney 28 O'Connell encompasses a boutique asset at its best, suited to both creative and traditional style tenants. Ideally located in the centre of Sydney'financial precinct. The building has on-site parking and end of trip facilities. - Lessor has installed a new partial fit out - Reception and boardroom installed - Open plan area with room for 14 - 16 workstations - Direct lift exposure and excellent light and outlook
Area m2:
131.4 approx 2
Rent $/m : Rental PA:
$1,095 Gross $143,883
Anthony Harris 0409 319 060 aharris@raywhite.com Elizabeth Braithwaite 0434 305 588 ebraithwaite@raywhite.com
64 | SYDNEY OFFICE UPDATE
227 Elizabeth Street , Sydney Part Level 22, 227 Elizabeth Street , Sydney 227 Elizabeth Street is situated in close proximity to the law courts, all amenities and public transport. This building provides tenants with refurbished office space with good natural light in a sought after location. Pleasant outlook over Hyde Park. - Co-Tens brand co working office at 227 Elizabeth St - Views over Hyde Park and East, Sydney Harbour and the Heads - Private offices offered of various sizes on a shared office floor, - Ideal for professional companies ranging in size from 4 to 20 staff
Area m2:
129 approx 2
Rent $/m : Rental PA:
$1,440 Gross $185,760
Naomi Vilar 0431 209 888 nvilar@raywhite.com
SYDNEY OFFICE UPDATE | 65
350 George Street , Sydney Office, 350 George Street , Sydney 350 George Street is a iconic 7 storey heritage building, built in 1892, formerly known as Societe Generale House. Prominently located on the corner of George Street and Angel Place, with Martin Place and Wynyard Railway Stations within only a short walking distance. On site showers, kitchen and bathrooms. Common shared boardroom. - Partitioned suite, potential for furniture to remain - Boardroom, reception and open plan with workstations - Amazing high ceilings and period features
Area m2:
129 approx 2
Rent $/m : Rental PA:
$1,200 Gross $154,800
Anthony Harris 0409 319 060 aharris@raywhite.com Elizabeth Braithwaite 0434 305 588 ebraithwaite@raywhite.com
66 | SYDNEY OFFICE UPDATE
50 Margaret Street , Sydney Suite 501, 50 Margaret Street , Sydney 50 Margaret Street overlooks Wynyard Park positioned on top of Wynyard train station and close proximity to Barangaroo via the recently opened Wynyard Walk. The building enjoys excellent natural light and expansive views. Extensive building upgrades to ground floor lobby. - Partitioned suite facing South with views over Wynyard Park - Direct lift exposure from lobby - Currently with 3 - 4 offices, can be open plan - Vacant from 1/09/17
Area m2:
115.25 approx 2
Rent $/m : Rental PA:
$995 Gross $114,674
Anthony Harris 0409 319 060 aharris@raywhite.com Jeremy Piggin 0413 336 161 jpiggin@raywhite.com
SYDNEY OFFICE UPDATE | 67
18 Hickson Road , Sydney Ground, 18 Hickson Road , Sydney Situated in Sydney's most sought after precinct, Walsh Bay. With a large shop front and excellent street exposure, it is the perfect location to create your vision. - Existing DA approved for restaurant with outdoor seating - Plumbing in place for toilet, opportunity for grease trap and exhaust - Ground floor premises with direct street entry - Large display windows allowing terrific exposure and light - Harbour-side location amongst prestigious offices and apartments - High ceilings with exposed concrete surfaces
Area m2:
96 approx 2
Rent $/m : Rental PA:
$950 Gross $91,200
Naomi Vilar 0431 209 888 nvilar@raywhite.com Anthony Harris 0409 319 060 aharris@raywhite.com
68 | SYDNEY OFFICE UPDATE
15 Lime Street - King Street Wharf , Sydney Part Level 4, 15 Lime Street , Sydney The King Street wharf development provides direct waterfront office accommodation positioned just west of the city centre only 10 minutes walk from Martin place. This fast moving dynamic precinct is home to some of Sydney best bars and restaurants and is the new hub for elite businesses such as Macquarie Bank, KPMG and Westpac Bank. - Water front office with balcony - Own kitchen and bathroom with shower - Terrific light throughout
Area m2:
96 approx 2
Rent $/m : Rental PA:
$850 Gross $81,600
Andrew Edwards 0411 364 232 aedwards@raywhite.com
SYDNEY OFFICE UPDATE | 69
61 York Street , Sydney Level 3, 61 York Street , Sydney 61 York Street is located on the western side of York Street, between Barrack & Erskine streets. Completed in early 2008, and designed by Candalepas & Associates, the building comprises 16 levels of office space. - Sub lease front part of floor to be subdivided - Furnished with four workstations, chairs - York Street outlook with enclosed balcony - Shared bathrooms and kitchen - Independent air conditioning and shower facilities
Area m2:
70 approx 2
Rent $/m : Rental PA:
$800 Gross $56,000
Naomi Vilar 0431 209 888 nvilar@raywhite.com
70 | SYDNEY OFFICE UPDATE
4 Bridge Street , Sydney Suite 1005, 4 Bridge Street , Sydney 4 Bridge Street is a residential office building conveniently located near the corner of Bridge and George Streets with an impressive foyer, two lifts and a well maintained rooftop pool and entertainment area. The building is very handy to the ASX, Circular Quay, Australia Square, Martin Place and Wynyard stations. - Beautiful Edwardian office on level 10 with great light on 2 sides - Existing fit out with 2 offices in place and large work area - Internal kitchen and bathroom with shower - Own air conditioning control
Area m2:
59 approx 2
Rent $/m : Rental PA:
$825 Gross $48,675
Naomi Vilar 0431 209 888 nvilar@raywhite.com Anthony Harris 0409 319 060 aharris@raywhite.com
SYDNEY OFFICE UPDATE | 71
66 Hunter Street , Sydney Part level 9, 66 Hunter Street , Sydney Located on the corner of Hunter and Bligh Streets, City Mutual Building is an art deco icon situated in the heart of Sydney’s CBD. The building has been recently refurbished ensuring it is equipped with the latest technology and state of the art inclusions. Neil Perry's award winning Spice Temple and Rockpool Bar and Grill are located in the building. - First suite from the lift, great light and views over Bligh Street - Partitioned with 1 boardroom and 4 workstations, room for 4 more - Existing power and data cabling and furniture
Area m2:
58 approx 2
Rent $/m : Rental PA:
$950 Gross $55,100
Anthony Harris 0409 319 060 aharris@raywhite.com Naomi Vilar 0431 209 888 nvilar@raywhite.com
72 | SYDNEY OFFICE UPDATE
478 George Street, Sydney , Sydney Various Suites , 478 George Street , Sydney
Area m2:
The building offers a clean, unadorned interior. Furniture is very open and raised, allowing for an airy feeling. Corridors are lined with offices with glass petitions, allowing for natural light to bounce through-out the full interior. The building incorporates several large windows and outdoor terraces, and views overlooking some of Sydney’s most historic landmarks.
Elizabeth Braithwaite 0434 305 588 ebraithwaite@raywhite.com
- Various sized suites from 3-17 person - Prices from $700pp, per month - Fully equipped serviced office space with furniture, shared meeting rooms and
Naomi Vilar nvilar@raywhite.com
50 approx
SYDNEY OFFICE UPDATE | 73
36 Grosvenor Street , Sydney Shared Office, 36 Grosvenor Street , Sydney The Johnson's Building is a beautifully restored and refurbished heritage building comprising of the ground floor and six upper office levels in one rise. Being part of the Grosvenor Place complex it enjoys all the Premium Grade services of the tower including back up power, bicycle and shower facilities and 24 hour onsite security. - Sensational shared space on level 6 - 6 to 8 workstations, shared reception, boardroom, meeting area - $3,900 per month. + Plus GST, 1 month bond
Rent $/m2: Rental PA:
$1,300 Gross $1,300
Naomi Vilar 0431 209 888 nvilar@raywhite.com
74 | SYDNEY OFFICE UPDATE
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Ray White was awarded the Family Business Award at the 2015 EY Entrepreneur Of The Year Awards. Recognising three generations of business, the EY Awards are considered the most prestigious business awards globally.
4 I NT ER NAT IONAL O F F I CES I N:
FRO M H UM BLE BEGIN N IN GS IN 1902 IN THE S M A LL QUE E N S L A N D CO UN TR Y TOWN O F CR OWS N E S T, R AY WH ITE H A S N OW BECO ME A H O US E H O LD N A ME CO N N ECTE D TO TH E P R O P E RT Y A N D RE A L E S TATE IN DUS TRY, HOME LOA N S A N D IN S URA N CE, WITH A N A N N UAL TURN OV E R IN E XCE S S O F $40 BILLIO N.
V IC O FF IC E S
In 2016, Ray White won the Major Network of the Year Award at the Real Estate Business Award at the Real Estate Business Awards, the real estate industry’s premier awards, open to every professional and real estate group in the industry.
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76 | SYDNEY OFFICE UPDATE