Sydney Office Update June 2017

SYDNEY OFFICE UPDATE JUNE 17

BÓRN BY TAPAVINO An Exciting food and wine dining experience at Barangaroo

TOP 9 TIPS For going out on your own

SPEC FITOUTS Why is demand still on the rise in this tightening market.

FIND YOUR PERFECT SPACE

LEVEL 12 88 PITT STREET

CONTENTS

28 O’CONNELL STREET

KEY ECONOMIC DATA:

WHAT’S INSIDE

Vacancy rates for Sydney CBD: 6.2%

04

Cash rate: Unchanged at 1.50% Australian unemployment rate: Steady at 5.9%

BÓRN BY TAPAVINO An Exciting food and wine dining experience at Barangaroo.

e’re midway through 2017 and the Sydney office market continues to benefit from constant demand and stock withdrawals. At the moment, tenants are vacating at 71 Macquarie Street, 50 Bridge Street, AMP’s Loftus & Young precinct at Circular Quay which are all now designated for major developments.

This supply withdrawal is narrowing the gap between B Grade suites and whole floors in premium buildings. A good comparison of this is 28 O’Connell Street which are achieving rents of $1,095 psm gross for suites under 200m2. Compare this to a whole floor for lease at Level 28/88 Phillip Street, which is being offered for sublease or assignment by Fuji Xerox at just over $1,250 psm gross, with a full fit out.

The current strong demand has left us with a list of potential tenants unable to find the right fit for their next move. Do you have a vacant property at the moment? Get in touch with us - we offer an obligation free, no cost marketing package, including professional photography.

All the best,

Anthony Harris M: 0409 319 060

05

TOP 9 TIPS

for going out on your own.

07 SPEC FITOUTS Why is demand still on the rise in this tightening market.

10 F O C U S L I S T I O N S 11 R E C E N T T R A N S A C T I O N S 12 F 4 5 C A S E S T U D Y 15 M A Y T R A N S A C T I O N S

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

Director 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

NAOMI VILAR

ANDREW EDWARDS

Sourcing office space for tenants roperty Management of strata P offices

Property Executive 0431 209 888 nvilar@raywhite.com

Property Executive 0411 346 232 aedwards@raywhite.com

NICHOLAS YEOH

JESSIE BATES

Property Analyst 0415 566 541 nyeoh@raywhite.com

Team Assistant (02) 9249 3768 jbates@raywhite.com

LOCAL HOTSPOT

BÓRN

BY TAPAVINO AT BARANGAROO

THERE’S JUST SO MUCH BUZZ AROUND THE FOOD AND WINE OPTIONS OPENING UP AT BARANGAROO. From fun casual dining like Belle’s Hot Chicken and Ume Burger to the finer offerings of Cirrus, there’s a venue to suit any catch up.

On top of the hot list at the moment is BóRN by Tapavino. The third venue from the team behind Tapavino (Australia’s first sherry bar at 6-8 Bulletin Place), BóRN by Tapavino draws inspiration from the tapas bars and restaurants around El Born, Barcelona.

It’s not a tribute to Spain, but a genuine representation of the food, wine and hospitality of the region. The vibrant green and Blackbutt timber interior was designed by Sydney’s Snell Architects and features an long brass bar, laden with tapas and perfect for a one on one drink.

If there’s one dish to try it’s the acornfed ‘Pata Negra’ Ibérico de Bellota ($56) - known as the ‘lord of the pigs’, the incredible jamón is glossy, sweet and nutty all at the same time. Or hand yourself over to the chef for the Siesta Set Menu ($55pp with matched wines).

The wine and sherry list is entirely from Spain, with every main wine area represented by some of the most talented Spanish artisan winemakers.

BÓRN BY TAPAVINO 9a/17 Barangaroo Avenue, Barangaroo www.tapavinobarangaroo.com

4

IF THERE’S ONE DISH TO TRY IT’S THE ACORN-FED ‘PATA NEGRA’ IBÉRICO DE BELLOTA

GOING OUT ON YOUR OWN?

HERE ARE OUR TOP 9 TIPS YOU’VE HONED YOUR CRAFT, PUT IN THE HOURS TO CEMENT YOUR NAME IN THE INDUSTRY AND CLIMBED THE CORPORATE LADDER AS FAR AS YOU WANT TO FOR SOMEONE ELSE. Breaking away from a senior role to start your own business is about as exciting as it is daunting. You may have considered it for years, or you’ve seen an incredible opportunity and you’re ready to pounce.

In the current employment climate of the sharing economy and technology, we’re seeing more and more breakaway tenants coming to us, ready to lease their new premises. We’ve helped accountants, lawyers, financial services, executive search businesses, foreign currency traders and barristers leave their current workplaces and relocate to new office to start their own businesses.

Have you committed to breaking away and starting your own business? Here are the nine things you should know before you leap into your lease: SET UP A CORPORATE ENTITY

1

Before you start the office search, get advice from your lawyer and accountant about how to best set up company structures and trading names. The property owner will want to know what style of business you’re operating and that you have adequate experience to take on a lease, so be prepared for these questions.

5

2

UNDERSTAND YOUR SETUP COSTS

Setting up a new office can often be very expensive, even before you start paying rent. The standard bond or bank guarantee is six months gross rental (plus GST). If the premises has no fit out, you’ll need to pay for that too - budget on anywhere from $600 sqm to $1,000 sqm to build and furnish an empty office. You’ll need about 10m2 per person, so for a team of 10 will need about 100m2, this factors a reception, boardroom and open plan work areas.

3

RESEARCH, RESEARCH, RESEARCH

Before you sign a lease, do your homework. There are many great sources of information - agent websites, as well as industry bodies and government sources - which will help you understand prevailing market conditions and what rental and lease incentives are on offer.

4

MANAGE YOUR STANDARDS

Chances are, in your current role, you’re working in a premium or A grade office tower with views, first class facilities and a top fit out. Be prepared to lower your standard. You might need to make some compromises to get your business off the ground (and into the tower!).

5

WHICH LEASE TERM?

Your lease terms should be based around your growth strategy. If you’re planning to grow quickly a shorter lease is the best option, or you can take on a sub lease from another tenant walking away. Alternatively, you can take on a longer lease and then sub lease the remaining term when you outgrow the space. A serviced office or co-working tenancy is another option if you’re uncertain of the space you need - this option works well until you grow large enough to warrant taking your own space. It can be more expensive but the shorter lease terms give you valuable flexibility.

7

8

DEAL

There are many variables in commercial leasing so it pays to have a short list of two or three options in case your dream property doesn’t come to fruition. Be prepared to haggle on terms and don’t be afraid to ask the owner for some concessions - many lessors will offer deal sweeteners. Be prepared to move quickly and have a lawyer ready to review a lease proposal and documentation on short notice.

It pays to shop around for a good builder or project manager - they will be experienced in cost efficiencies and be able to add value in areas like product sourcing and arranging furniture. Source two to three quotes before you decide. Your agent can help point you in the direction of qualified professionals, to help you save time and money. Be sure to arrange your data connection well ahead of time, it’s critical to the smooth transition into the space.

9 YOUR LEASE TERMS SHOULD BE BASED AROUND YOUR GROWTH STRATEGY.

ONE VOICE, ONE AGENT

6

If you’re working with a few colleagues, allocate one person in your team to do the searching. It can get confusing if there are too many people involved - multiple tenants contacting multiple agents is a recipe for disaster - so research the most active agent in the market segment you’re targeting and try to focus your search with that one agent. Because you’re breaking away from your current employer, confidentiality is important and dealing with one agent will ensure your search is treated as such.

SEALING THE

6

MOVING IN

MANAGING YOUR LEASE

Once you’ve signed, the clock starts ticking on your current lease. You might need to pre plan your next move or lease renewal six to nine months in advance, so keep in contact with a good agent with their finger on the pulse. Working with an agent who understands market rents and current lease incentives will open up your options when the fun starts again at renewal time.

SPEC FITOUTS

WHY IS DEMAND STILL ON THE RISE IN THIS TIGHTENING MARKET?

Andrew Johnson Managing Director, Intermain

IN A SOFT MARKET, IT’S EASY TO UNDERSTAND WHY SPEC FIT OUTS ARE APPEALING. They are a unique selling point that help properties stand out from a crowd, and provide prospective, time poor Tenants with a low risk and cost efficient option.

But I recently chatted to my team at Intermain about the fact that we are actually seeing the demand for spec fit outs continue to rise in 2017, despite vacancy rates falling and conditions tightening in many key markets, most noticeably Sydney.

Our recent spec fit out project at 28 O’Connell Street is an excellent example. This is the latest project where we collaborated with the team at Ray White Commercial. Our mutual client wanted to give prospective tenants a turnkey solution and to help them visualise the space working for their staff.

The result was that the first suite was successfully leased before we had barely left the building!

Display Suite at 28 O’Connell Street, Sydney Owner Coombes Property Group. D&C Intermain. Agent Ray White Commercial

So why do we think market demand is continuing to grow?

Our Landlord clients are telling us that offering tenants a turnkey solution gives them a strong advantage in a highly competitive market such as Sydney’s CBD (currently 6.2% vacancy – PCA OMR Jan 2017). Spec fit outs allow tenants to make quicker decisions as they don’t need to go away and assess the risks and costs associated with running their own fit out.

Landlords can generate strong economies of scale by commissioning multiple fit out projects at once and they’re finding that time poor tenants are willing to pay a premium for a turnkey solution.

Spec fitout projects are often a trigger for landlords to re-brand and reposition their assets and the further bonus is that the Landlords retain ownership for depreciation purposes.

Agents are also telling us that office space with a spec fit out is a tremendous lead generator for web marketing.

7

It is extremely hard to visualise what an open plan space will look like once fitted out, so spec fit outs provide an excellent example of what can be built in other vacant suites within the same building.

It’s no surprise that tenants view spec fitouts as a low risk option for them. Indeed, there can be a lot of challenges for a tenant when it comes to commissioning a fitout, with many moving parts from design through to the approvals process, construction and handover.

At Intermain we are proud of our track record for on-time delivery, but delays are common to the industry and an overrun will hold up a tenant’s operations. Ready-fitted offices don’t require the corporate reserves to fund a project up front and anecdotally, many tenants remark that they don’t need to worry about the internal challenges of deciding on styles and finishes – there is no room to disagree on colours if the work is already done!

Display Suite at Zenith Chatswood 821 Pacific Highway Owner Centuria Capital D&C Intermain

DESIGNER’S PERSPECTIVE JESSICA MARINIC, DESIGN MANAGER, INTERMAIN We have had some great successes creating fit out designs that help tenants picture themselves and their staff in their work environment. Designs that bring the residential feel to the office are proving hugely popular because they create comfortable environments where staff want to be. On a recent project at 1 Castlereagh Street, we worked closely with the landlord to assess the market and developed two fit out themes to maximise leasing success – a Hamptons style and an industrial style.

We found the homely Hamptons style was an absolute hit with tenants and we have continued to build on this theme in subsequent projects.

From a design perspective, making sure the finishes and furniture is adaptable and neutral enough is critically important so that any organisation can claim it as their own and easily overlay their own branding. Also flexibility of our designs is one of the biggest items on clients’ wish lists, allowing for size fluctuations as well as mass appeal.

Display Suite at Zenith Chatswood 821 Pacific Highway Owner Centuria Capital D&C Intermain

8

“L A N D L O R D S C A N G E N E R AT E S T R O N G ECONOMIES OF SCALE

BY COMMISSIONING M U LT I P L E F I T O U T P R O J E C T S AT O N C E A N D T H E Y ’ R E F I N D I N G T H AT TIME POOR TENANTS A R E W I L L I N G T O PAY A PREMIUM FOR A TURNKEY S O L U T I O N. ” Display Suite at 28 O’Connell Street, Sydney Owner Coombes Property Group. D&C Intermain. Agent Ray White Commercial

BUT WHAT SHOULD YOU CONSIDER WHEN DECIDING WHETHER A SPEC FIT OUT IS RIGHT FOR MARKETING YOUR BUILDING? Ensure your project timeline is feasible – working to fast turn-around times is standard, but provisioning sufficient time to plan the project properly will give your designer a chance to identify cost efficiencies and plan the most versatile space possible, which will appeal to a broader range of prospective tenants.

Choose readily available furnishings and fixtures – speciality items that take months to source and import will add to the cost and blow out a project timeline. A good designer will plan a scheme that takes this into account.

Consider the durability of commercial pieces, material selection and cleaning of products - again a strong design team will develop a scheme that balances aesthetics and comfort with easy maintenance and durability.

Ensure your design has some flexibility built in – this is one of the most important aspects of a successful spec fit out. Clever, flexible design will allow scope for some tailoring and adaptation of the configuration to better suit the incoming tenant’s needs. A spec fit out should therefore leave aspects such as cabling to the end in order to allow the successful tenant to make a final decision on desk configuration.

Ensure your design delivers bang for buck - spec fitouts are an upfront cost to the landlord, so your design needs to get a tenant interested in your space without tying up too much capital.

Select the right Design & Construct team – the success of your project will come down to the skills and resources of your D&C contractor. For the best results, choose a company that has a full service offering to take you from initial space planning and interior design, through construction and project management to hand over of the completed suite.

At Intermain we are proud to offer this full range of services to our clients and we are constantly innovating to help achieve cost effective, high quality outcomes that appeal to the working styles and demands oftoday’s varied tenants. We also continue to be there for our clients with an after service should changes, updates or repairs be needed.

Andrew Johson is the Founder and 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.

VISIT INTERMAIN.COM.AU FOR MORE DETAILS.

9

AGENT’S PERSPECTIVE ANTHONY HARRIS Ray White Commercial Collaborating with Intermain on 28 O’Connell Street, was a text book example of where spec fit outs work for owners, agents and tenants alike. In this instance, the building owner was impressed by the work Intermain had completed at 1 Castlereagh Street, recognising the designs as attractive and efficient, and wanted to achieve the same quality for their own building. They also had a tight and awkward deadline of midJanuary, requiring work over the Christmas holiday period, so were looking for a Design and Construct team that had the resources and scale to achieve this tall order – and had the a can-do attitude to make it happen.

The result was an outstanding and cost effective fit out delivered on time and budget, which is just as well as we leased the first suite in the same week that it was completed.

FOCUS LISTINGS 3/28 O’CONNELL STREET

Coombes Property Group is now splitting another floor at 3/28 O’Connell Street into three suites from 115 sqm 126 sqm and 184 sqm in size. Some suites already have existing fit outs, so they’re ready to roll now.

Agent: Anthony Harris

50 MARGARET STREET

50 Margaret Street is hitting the market with a selection of light-filled offices with urban and park views, ranging at 120 sqm, 140 sqm, 150 sqm and 350 sqm. They all have existing fitouts and sit across from pretty Wynyard Park and a short walk down to Barangaroo Agents: Anthony Harris & Jeremy Piggin

66 CLARENCE STREET

66 Clarence Street are now offering suites from 200 sqm to whole floors, or 860 sqm with the refurbishment of the floors vacated by Jardine Lloyd Thompson due for completion June 2017.

Agents: Anthony Harris & Christian Minards

88 PITT STREET

At 88 Pitt Street Street, we have a unique whole floor for lease of 360 sqm with a 62 sqm outdoor balcony with corridor views down Pitt Street to Circular Quay Agents: Anthony Harris & Jeremy Piggin

10

RECENT TRANSACTIONS 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 ( Psqm)

Le sse e

147.7

June 2017

5

$1,649.43

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

206.9

April 2017

5

$750

Medicolegal Psychiatry

801, 50 Margaret Street

154

March 2017

5

$950

Infrasol

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 Place

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

Leve 2, 36 Hickson Road

133.3

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

601, 50 Margaret Street

152.9

January 2017

5

$850

EPM Partners

4, 241 Castlereagh Street

350.3

December 2016

2

2, 122 Pitt Street

222.2

September 2016

4

Ad d re ss 2b, Level 31, 200 George Street

203, 46 Market Street

11

STM International $675.07

Ve Interactive

F45 CASE STUDY YOU MAY HAVE HEARD OF F45 IT’S THE FASTEST GROWING FRANCHISE IN AUSTRALIA RIGHT NOW AND THE TRAINING PROGRAM THAT’S TURNING CONVENTIONAL GYM-GOING ON IT’S HEAD.

The group currently have 480 studios in Australia and a further 750 around the world. F45 Training combines elements of high-intensity interval training (HIIT), circuit training and functional training, across 27 different 45 minute workouts.

We recently helped F45 continue their rapid expansion with a new venue taking shape in the basement of 28 O’Connell Street, owned by Coombes Property Group. F45 owner/operators Joel Egan, Jordan McCreary and Daniel Capilli have opened five venues in the last two years, in Martin Place, Town Hall, Circular Quay, Turramurra and Chifley with number six currently under negotiations.

“28 O’Connell Street was an ideal CBD location for us to service the premium office towers around O’Connell, Bligh and Phillip Street “ said Joel. “This site gives us good signage, direct street entry, and our own basement space with access to end of trip facilities like bike racks, lockers and showers,” he said.

The deal was negotiated by Elizabeth Braithwaite of Ray White and it took time working together to find the right tenancy.

‘WE SPENT A GOOD SIX MONTHS SEARCHING WITH F45 FOR THE RIGHT VENUE’

Elizabeth shared. “When 28 O’Connell Street came to the market, we struck a deal with the owner within a few days of the opportunity being offered. We believe the usage will be a great service to the existing tenants and a draw card to new tenants,” she said.

F45 TEAM 28 O’Connell Street.

0410 668 650

12

TENANT REP BRIEFS Ten an t N a me

A re a (S q m)

T imimg

Loc a t ion

Comme nt s

Afterpay

1000

October 2017

Surry Hills, Central, Town Hall

COBA

200 - 250

January 2018

CBD, North 5 years + 3 year option Sydney & Fringe

Bridge Housing

700 - 800

April 2017

Redfern, Central, Surry Hills

5 years + 5 year option

EAC Partners

75 - 115

Q3 2017

Sydney CBD

3 to 5 years, ideally fitted space

Squirrel

1500 - 2000 Q4 2017

Sydney CBD

5 + 5 year lease, refurbished or fitted

Berkley Insurance Company

1200 -1300

August 2017 Sydney CBD, north Park Street

Tourism Ireland

80 - 120

Q4 2017

Sydney CBD

Nokia

5000

September 2018

Sydney Fringe

3 years + one option of 3 years, fitted space preferred

Avocado Consulting

600 - 1200

ASAP / Q3 2018

Sydney CBD

Fully fitted, End of Trip, 2 car spaces

O’Brien Palmer

400 - 500

April 2018

Sydney CBD

5 years + 3 year option

Confidential Client

85 - 100

ASAP

Sydney CBD

3 years, fitted suite preffered

Huawei

5000 - 6000 May 2017

Sydney CBD, North Sydney

5 year lease + options

MongoDB

650 - 800

October 2017

CBD Fringe, Surry Hills

3 year sublease or new direct 3 year lease

RISQ Group

150 - 200

December 2017

Sydney CBD

3 year term

beIN Media Group

500 - 550

December 2017

Sydney CBD & Fringe

5 years + 5 year option

Swire

1800 - 2000 July 2018

Sydney CBD

5 years + 3-5 year option

Harrington Lawyers

200 -250

Q3 2017

Sydney CBD

5 year term with option

Honner Media

290 - 320

January 2018

Sydney CBD

3-5 year term

13

3 to 5 years with options

5 year new direct + 5 year option, fitted/unfitted options

TENANT REP BRIEFS Ten an t N a me

A re a (S q m)

T imimg

Loc a t ion

Sydney CBD

Comme nt s

Confidential Client

400 - 600

ASAP

Sanduba

50 - 150

Q3-Q4 2017 Sydney CBD

Long terms preferred + options

Confidential Client

150 - 250

September 2017

Sydney CBD

3-5 years

Metlife Insurance

3500

Q1 2019

Sydney CBD, North Sydney

5 year term plus 7 year option

Benevolent Society

3000

Q3-Q4 2017 Hurstville Hub

5-10 years, plus mobile options

Benevolent Society

700 - 1000

Q3-Q4 2017 Sydney CBD, North Hub

5-10 years, plus mobile options

Northcape

500 - 600

June 2018

Sydney CBD

5 years plus 3 year option

Steelcase

400 - 500

February 2018

Sydney Fringe

5 years plus 3 year option

Equifax

6500 - 7500 December 2018

Sydney CBD, North Fringe

5-7 years + 3-5 year option

Springer Nature

250 - 300

Sydney Fringe

5 year term, fit out outlined in brief

Mastercard

3000 - 3500 May 2018

UBER

600 - 800

Q3-Q4 2017 Western Sydney 3 year initial term + 3 year option

Marketo

800 - 1100

Q4 2017

Sydney CBD, City Core

3-5 year lease

Global Equity Manager

200 - 300

Q4 2017

Sydney CBD

5-10 years with option

Campari

1000 - 1300 Not Specified

Darling Harbour, Barangaroo

5-10 years with option

Jackson King

450 - 500

December 2017

Sydney CBD

5 years + 5 year option

Exponential

100 - 150

July 2017

Sydney CBD

3-5 years, must be fitted

SAS

300 - 450

Q3-Q4 2017 Sydney CBD

January 2018

14

Lease term up to 5 years

CBD Fringe,, North Sydney

5 year term +

MAY TRANSACTIONS 10/111 ELIZABETH STREET Level 16 Wardell Chambers have leased Level 10/111 Elizabeth Street.

Their forced relocation was due to the compulsory acquisition of their previous lease at 39 Martin Place. Wardell have taken a whole floor of 753 sqm at a rent of $845 per sqm gross (plus GST) for a seven year deal. The deal was transacted by Christian Minards.

25 LIME STREET CNCE Management, a Chinese mortgage broking business, have leased a 96 sqm waterfront office at 25 Lime Street, King Street Wharf for approx $80,000 p.a. Buoyed by the completion of Barangaroo, the King Street Wharf precinct is seeing a resurgence of interest. The deal was transacted by Andrew Edwards.

203/46 MARKET STREET Medico Legal Psychiatry have expanded from their existing premises in Chippendale and taken a new premises at 2/46 Market Street which was previously occupied by the American Baseball League. The premises was 207 m² in size and the deal was struck at $750 per square metre gross. The deal was transacted

by Elizabeth Braithwaite.

191 CLARENCE STREET Lyndsay Dynan Consulting Engineers have leased 280 sqm at 191 Clarence Street. The deal was set at $650 psm gross, for 280 sqm. The deal was transacted by Andrew Edwards.

15

ce demand barometer

Dexus office demand barometer Leading indicators point to improving take-up in Sydney May 2017

The Dexus Office Demand Barometer

Demand for office space in the Sydney CBD, Australia’s largest office market, is expected to strengthen further over the next few months.

The Dexus Office Demand Barometer registered +2.0% in the March 2017 quarter, up from last quarter’s reading of +1.7%. This moves the barometer reading well into ‘good’ territory.

Factors pushing the Barometer higher were an improvement in the US economy, a solid uplift in ANZ job advertisements and a rise in business travel departures.



All of these indicators are signs of increasing activity in the finance and professional services industries.

Although the Barometer result was constrained by a mild fall in business confidence in the finance, property and business services sectors in the March 2017 quarter, there has subsequently been a strong lift in the broad measures of business conditions according to the NAB Monthly Business Survey for April 2017.

ANZ job advertisement series

0.17%

S&P/ASX 200 Index

-0.02%

Short term business travel departures

0.11%

NAB Business Confidence Index (FinPropBus)

-0.22%

US ISM Manufacturing Index

0.32%



Sydney net absorption rebounded to be positive in the March 2017 quarter (+2,200sqm) and the Barometer implies another improvement next quarter.

Barometer versus actual demand Actual demand

Withdrawals of secondary stock have led to a contraction of the amount of available space in secondary buildings (now 6% of stock). Accordingly, rents for secondary space have risen strongly encouraging the absorption of prime space. Prime take up was more than 23,000sqm for the quarter.

Barometer

10% 8% 6% 4% 2%

Leasing enquires for the March 2017 quarter were predominantly from the finance & insurance, business & property services and IT sectors. There has also been increasing enquiry from recruitment and media/ communications companies.

0% -2% -4%

Dexus Research has tracked over 100,000sqm of leasing enquiries in the Sydney CBD over the past quarter. While lease sizes have ranged between 100sqm and 3,000sqm, the average lease size was 550sqm which indicates the strength of demand among small to medium enterprises. 

-6% -8% -10% Mar-07



Mar-09

Mar-11

Dexus Research, JLL Research

 

Contribution to change (ppts)

Components

16

Mar-13

Mar-15

Mar-17



About the Barometer Dexus’s Office Demand Barometer is a specialised model that provides a leading indicator for conditions which determine the level of leasing demand for Sydney CBD over the subsequent six months. The Barometer is expressed as a percentage of occupied stock.

The Barometer includes five variables which have been carefully selected based on their high correlation with Sydney CBD office demand. 

ANZ job advertisement series



US ISM Manufacturing Index



Short term business travel departures



NAB Business Confidence Index – finance/business/property sectors



S&P/ASX 200 Index

   Date of issue: 15 May 2017   

For further information, please contact: Peter Studley General Manager, Research peter.studley@dexus.com This report makes reference to historical property data sourced from JLL Research (unless otherwise stated), current as at ‘Q1/2017’. Jones Lang LaSalle accepts no liability for damages suffered by any party resulting from their use of this document. All analysis and views of future market conditions are solely those of Dexus.

Issued by Dexus Funds Management Limited ABN 24 060 920 783, Australian Financial Services Licence holder. This is not an offer of securities or financial product advice. The repayment and performance of an investment is not guaranteed by Dexus Funds Management Limited, any of its related bodies corporate or any other person or organisation. This document is provided in good faith, it is not intended to create any legal liability on the part of Dexus Funds Management Limited.

This economic and property analysis is for information only, and Dexus Funds Management Limited specifically disclaims any responsibility for any use of the information contained by any third party. Opinions expressed are our present opinions only, reflecting prevailing market conditions, and are subject to change. In preparing this publication, we have obtained information from sources we believe to be reliable, but do not offer any guarantees as to its accuracy or completeness. This publication is only intended for the information of professional, business or experienced investors.

17

OUR OFFICES 48

O F FI C E S AC R O S S AU S T R AL I A, N EW ZE AL AN D, C H I N A AN D H ON G KO N G

NT O F F IC E

23

Q LD O F F IC E S

WA OFFICE

SA O F F IC E

14

NS W O F F IC E S

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 INT ERNAT I ON AL OFFI CES I N:

FRO M H UM BLE BEGIN N IN GS IN 1902 IN TH E 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, H OME LOA N S A N D IN S URA N CE, WITH A N A N N UA L 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.

NEW ZEAL AN D HONG KONG CHINA

O F FIC E

CON TAC T

O F F IC E

CO NTAC T

Ray White Advisory

(02) 9262 3700

Ray White Commercial (Parramatta)

(02) 92493725

Ray White Business Sales (Sydney CBD)

(1800) 858 696

Ray White Commercial (Pine Rivers)

(07) 3889 8000

Ray White Commercial (Adelaide Asset Management)

(08) 7228 5600

Ray White Commercial (Queensland)

(07) 3231 2211

Ray White Commercial (Bayside)

(07) 3245 7199

Ray White Commercial (Runaway Bay)

(07) 5528 8878

Ray White Commercial (Cairns)

(07) 4044 1111

Ray White Commercial (South Sydney)

(02) 9101 8000

Ray White Commercial (Caloundra)

(07) 5491 4600

Ray White Commercial (Southport)

(07) 5552 6388

Ray White Commercial (Christchurch)

(03) 379 4120

Ray White Commercial (Springwood)

(07) 3290 5383

Ray White Commercial (Coomera)

(07) 5573 1077

Ray White Commercial (Tauranga)

(07) 928 0000

Ray White Commercial (Eastern Suburbs)

(02) 9362 9000

Ray White Commercial (Toowoomba)

(07) 4613 1455

Ray White Commercial (GC South)

(07) 5535 0500

Ray White Commercial (Townsville)

(07) 4726 7888

Ray White Commercial (Gladstone)

(07) 4972 3288

Ray White Commercial (TradeCoast)

(07) 3899 5888

Ray White Commercial (Glen Waverley)

(03) 9574 9555

Ray White Commercial (Vic-Nunawading)

(03) 9955 0055

Ray White Commercial (Gold Coast)

(07) 5555 8600

Ray White Commercial (WA)

(08) 6253 5222

Ray White Commercial (Inner West)

(02) 9810 3422

Ray White Guangzhou: China

23761088

Ray White Commercial (Ipswich)

(07) 3282 9655

Ray White Hotels Australia (NSW)

(02) 8016 3810

Ray White Commercial (Newcastle)

(02) 4974 3011

Ray White Hotels Australia (QLD)

(07) 3046 4300

Ray White Commercial (Noosa & Sunshine Coast North)

(07) 5474 7600

Ray White Industrial (Gold Coast)

(07) 5555 8600

Ray White Commercial (North Coast Central)

1300 25 50 75

Ray White Industrial (M1 North)

(07) 3807 0001

Ray White Commercial (NSW Greater Sydney South)

02) 9099 1128

Ray White Industrial (Milton)

(07) 3331 5444

Ray White Commercial (NSW)

(02) 9262 3700

Ray White Projects (NSW)

02 9262 3700

Ray White Commercial (NSW-Sydney City Fringe)

(02) 9660 1717

Ray White Retail (Sydney)

(02) 9249 3753

Ray White Commercial (NT)

(08) 8943 3500

Ray White Special Projects (Queensland)

(07) 3231 2241

Ray White Commercial (Oakleigh)

(03) 9568 2000

Ray White Tsim Sha Tsui: Hong Kong

23761088

Ray White Commercial (Office Leasing - Sydney)

(02) 9249 3709

18

701/28 O’CONNELL STREET

FIND YOUR PERFECT SPACE 10/61 YORK STREET STREET

LEVEL 16 /1 MARGARET STREET

CENTRAL LOCATION CITY VIEWS 21 19

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

Rent $/m2:

$1,251 Gross $1,720,125

Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com Andrew Telepis 0415972696 atelepis@raywhite.com

20

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

Rent $/m2

$913 Gross $851,468

: Rental PA:

Andrew Telepis 0415972696 atelepis@raywhite.com Anthony Harris 0409 319 060 aharris@raywhite.com

21

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.

Area m2:

860 approx

Rent $/m2:

$795 Gross $683,700

Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com Christian Minards 0447 777 037 cminards@raywhite.com

- Contiguous floors, levels 7 to 10 of approx 860m2 each - Superior level of natural light from 3 sides - Part floors from 350m2, or single to multiple floors

22

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

23

Area m2:

750 approx

Rent $/m2

$350 Gross $262,500

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com Anthony Harris 0409 319 060 aharris@raywhite.com

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

24

Area m2:

557 approx

Rent $/m2

$1,457 Gross $811,549

: Rental PA:

Elizabeth Braithwaite 0434 305 588 ebraithwaite@raywhite.com Anthony Harris 0409 319 060 aharris@raywhite.com

28 O'Connell Street , Sydney Level 4, 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.

- Creative whole floor tenancy at tree top level - Significant refurbishment featuring exposed ceilings - Polished concrete floors, black ceilings - High end kitchen and breakout, meeting rooms - Capacity for 40 - 50 workstations

25

Area m2:

481 approx

Rent $/m2

$995 Gross $478,595

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com

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

26

Area m2:

423 approx

Rent $/m2

$890 Gross $376,470

: Rental PA:

Christian Minards 0447 777 037 cminards@raywhite.com Anthony Harris 0409 319 060 aharris@raywhite.com

66 King Street , Sydney Suite 6.01, 66 King Street , Sydney Located on the corner of King and York Streets, 66 King Street is a short walk to both Wynyard Station and Pitt Street Mall. A full upgrade has been completed of the ground floor lobby, and bathrooms, as well as the installation of new lifts.

- Whole floor suite - Fully fitted & furnished - Open plan with meeting rooms - Direct lift exposure - Initial leases from 12-18 months

Area m2:

413 approx

Rent $/m2:

$800 Gross $330,400

Rental PA:

Elizabeth Braithwaite 0434 305 588 ebraithwaite@raywhite.com Andrew Edwards 0411 364 232 aedwards@raywhite.com

27

7 Macquarie Place , Sydney Suite 701, 7 Macquarie Place , Sydney Situated on the south western corner of Macquarie Place and Reiby Place, opposite the Gateway and overlooking Macquarie Place Park. The property enjoys a central location within Sydney’s northern office precinct within close proximity to Circular Quay.

- Direct lift exposure from lobby - Prime Harbour views to the North East - Column free space with light on 2 sides - Available now, sub lease to 7/1/2024

28

Area m2:

410 approx

Rent $/m2

$1,090 Gross $446,900

: Rental PA:

Andrew Telepis 0415972696 atelepis@raywhite.com

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

Rent $/m2

$925 Gross $333,000

: Rental PA:

Jeremy Piggin 0413 336 161 jpiggin@raywhite.com Anthony Harris 0409 319 060 aharris@raywhite.com

29

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

Rent $/m2

$950 Gross $333,830

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com Jeremy Piggin 0413 336 161 jpiggin@raywhite.com

30

130 Pitt Street , Sydney Suite 9.01, 130 Pitt Street , Sydney 130 Pitt Street offers upgraded high quality space in Sydney's most established business precinct opposite No.1 Martin Place and Sydney GPO. The stylish foyer has been redesigned and upgraded to provide a contemporary corporate lobby with on-site cafe.

- Existing quality fit out in place - Direct lift exposure - Fit out with Reception, full kitchen breakout area, 20 workstations - 2 offices, boardroom + meeting rooms

31

Area m2:

345 approx

Rent $/m2

$788 Gross $271,860

: Rental PA:

Andrew Telepis 0415972696 atelepis@raywhite.com

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

Rent $/m2

$1,050 Gross $287,700

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com Elizabeth Braithwaite 0434 305 588 ebraithwaite@raywhite.com

32

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

33

Area m2:

250 approx

Rent $/m2

$1,050 Gross $262,500

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com

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

Rent $/m2

$790 Gross $183,280

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com Elizabeth Braithwaite 0434 305 588 ebraithwaite@raywhite.com

34

27 Macquarie Place , Sydney Level 5, 27 Macquarie Place , Sydney Kyle House is a character building with art deco features and a magnificent heritage façade. The building enjoys direct access to the leafy Macquarie Place Park and is just a short stroll from Circular Quay.

- Whole floor tenancy with secure access - Potential for fit out to remain or be removed - Lovely leafy outlook over Macquarie Place - Stand out from the crowd and make a statement - Available from 1 September 2017

35

Area m2:

228 approx

Rent $/m2

$895 Gross $204,060

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com

27 Macquarie Place , Sydney Level 7, 27 Macquarie Place , Sydney Kyle House is a character building with art deco features and a magnificent heritage façade. 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

Rent $/m2

$800 Gross $182,400

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com Elizabeth Braithwaite 0434 305 588 ebraithwaite@raywhite.com

36

25 Lime Street , 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 partitioned suite with views of Darling Harbour - Reception, boardroom, offices and open plan area - Fully Equipped kitchen (dishwasher and stovetop)

37

Area m2:

221 approx

Rent $/m2

$820 Gross $181,220

: Rental PA:

Andrew Edwards 0411 364 232 aedwards@raywhite.com Anthony Harris 0409 319 060 aharris@raywhite.com

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

38

Area m2:

220 approx

Rent $/m2

$990 Gross $217,800

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com

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

Rent $/m2

$830 Gross $172,889

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com Jeremy Piggin 0413 336 161 jpiggin@raywhite.com

39

61 York Street , Sydney Level 10, 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 - Meeting room, storage rooom, breakout area - High quality & secured lobby with intercom access - Independent air conditioning & shower facilities are available

Area m2:

208.1 approx

Rent $/m2

$815 Gross $169,602

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com Jeremy Piggin 0413 336 161 jpiggin@raywhite.com

40

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

Rent $/m2

$790 Gross $163,530

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com Jeremy Piggin 0413 336 161 jpiggin@raywhite.com

41

63 York Street , Sydney Level 2 , 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.

- Whole floor tenancy with secure entry - Good light on all 3 sides of floor - Own kitchens and bathrooms - Open plan configuration

42

Area m2:

208.4 approx

Rent $/m2

$775 Gross $161,510

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com

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

43

Area m2:

200 approx

Rent $/m2

$890 Gross $178,000

: Rental PA:

Christian Minards 0447 777 037 cminards@raywhite.com Anthony Harris 0409 319 060 aharris@raywhite.com

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

44

Area m2:

200 approx

Rent $/m2

$750 Gross $150,000

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com

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

45

Area m2:

196 approx

Rent $/m2

$795 Gross $155,820

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com

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

Rent $/m2

$875 Gross $175,000

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com Andrew Edwards 0411 364 232 aedwards@raywhite.com

46

27 Macquarie Place , Sydney Mezzanine Gallery, 27 Macquarie Place , Sydney Kyle House is a character building with art deco features and a magnificent heritage façade. 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

47

Area m2:

179 approx

Rent $/m2

$775 Gross $138,725

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com Elizabeth Braithwaite 0434 305 588 ebraithwaite@raywhite.com

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

Rent $/m2

$650 Gross $105,950

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com Naomi Vilar 0431 209 888 nvilar@raywhite.com

48

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 - Reception, boardroom, meeting room - Full kitchen and breakout area - Approx18 workstations in tenancy - Terrific light over Hunter Street

Area m2:

151.7 approx

Rent $/m2

$1,095 Gross $166,112

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com Elizabeth Braithwaite 0434 305 588 ebraithwaite@raywhite.com

49

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

Rent $/m2

$630 Gross $95,130

: Rental PA:

Naomi Vilar nvilar@raywhite.com Anthony Harris 0409 319 060 aharris@raywhite.com

50

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:

150 approx

Rent $/m2

$995 Gross $149,250

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com Jeremy Piggin 0413 336 161 jpiggin@raywhite.com

51

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

Rent $/m2

$910 Gross $127,855

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com Jeremy Piggin 0413 336 161 jpiggin@raywhite.com

52

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

53

Area m2:

128 approx

Rent $/m2

$1,095 Gross $140,160

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com

50 Margaret Street , Sydney Suite 403, 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 North - Direct lift exposure from lobby - Currently fitted with boardroom, meeting room - Large open plan area with room for 12 - 14 workstations

Area m2:

149.5 approx

Rent $/m2

$705 Gross $105,398

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com Jeremy Piggin 0413 336 161 jpiggin@raywhite.com

54

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

Rent $/m2

$875 Gross $126,875

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com Elizabeth Braithwaite 0434 305 588 ebraithwaite@raywhite.com

55

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

Rent $/m2:

$910 Gross $127,855

Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com Jeremy Piggin 0413 336 161 jpiggin@raywhite.com

56

259 George Street , Sydney Part 26, 259 George Street , Sydney Rising 200m from its location on the corner of George and Bridge Street, this postmodern architecture building serves as an imposing establishment to the Sydney skyline, right in the heart of Sydney's financial district. The building is within a few minutes walk to the Stock Exchange, Circular Quay and Wynyard Train & Bus Interchange.

Area m2:

140 approx

Rent $/m2:

$1,200 Gross $168,000

Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com Naomi Vilar 0431 209 888 nvilar@raywhite.com

- Shared offices with financial services firm - 2 glass offices at $6,000 pm both - 8 workstations at $8,000 pm for 8

57

28 O'Connell Street , Sydney Suite 1202, 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.

- Existing fit out with power and data - Small reception, boardroom and one meeting room - Terrific light and views over O'Connell Street - Capacity for 14 workstations - Vacant from 15 July 2017

58

Area m2:

133 approx

Rent $/m2

$1,095 Gross $145,635

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com

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.

Area m2:

129 approx

Rent $/m2

$1,200 Gross $154,800

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com Elizabeth Braithwaite 0434 305 588 ebraithwaite@raywhite.com

- Partitioned suite, potential for furniture to remain - Boardroom, reception and open plan with workstations - Amazing high ceilings and period features

59

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

60

Area m2:

128 approx

Rent $/m2

$1,095 Gross $140,160

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com

28 O'Connell Street , Sydney Suite 303, 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 completed for other suites in building - Suites are offered refurbished open plan - Direct lift exposure - Excellent light and leafy outlook

61

Area m2:

121 approx

Rent $/m2

$1,095 Gross $132,495

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com

50 Margaret Street , Sydney Suite 1201, 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 looking over Wynyard Park - Can be offered as is or refurbished - Existing fit out in place with large boardroom - Light on 2 sides

Area m2:

120.5 approx

Rent $/m2

$995 Gross $119,898

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com Jeremy Piggin 0413 336 161 jpiggin@raywhite.com

62

98 Gloucester Street- Quay West , The Rocks Suite 15, 98 Gloucester Street , The Rocks 98 Gloucester Street, also known as the Quay West is located in The Rocks with spectacular views over Sydney Harbour and being among one of the top places to stay in Sydney CBD. - Great suite with direct street access - Located on Mezzanine Level at the Quay West Suites - Ideal for health & beauty, medical and fitness tenants - Parking and hotel facilities available including all day dining & bar - Available Jan 2017

63

Area m2:

103 approx

Rent $/m2

$700 Gross $72,100

: Rental PA:

Elizabeth Braithwaite 0434 305 588 ebraithwaite@raywhite.com Anthony Harris 0409 319 060 aharris@raywhite.com

25 Lime St, King Street Wharf , Sydney Part level 5, 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.

- Waterfront position with Direct Harbour views - Open plan, refurbished suite - Large balcony with built in BBQ and sink

64

Area m2:

96 approx

Rent $/m2

$850 Gross $81,600

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com

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

Rent $/m2

$630 Gross $95,130

: Rental PA:

Naomi Vilar nvilar@raywhite.com Anthony Harris 0409 319 060 aharris@raywhite.com

65

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

Area m2: Rental PA:

70 approx $100,000

Anthony Harris 0409 319 060 aharris@raywhite.com Elizabeth Braithwaite 0434 305 588 ebraithwaite@raywhite.com

Level 1, (70m2) is an office floor with existing fit out Large open work plan area with own kitchen and tea room Existing furniture, partitions and workstations Huge glass windows and 4 metre high ceilings

66

16 O'Connell St , Sydney Rear Level 1, 16 O'Connell Street , Sydney 16 O'Connell Street is a beautiful 12 storey strata title Art Deco building located in the Financial Hub of the Core CBD. The building is in close proximity to Wynard, Martin Place and Circular Quay, with the lobby and lifts recently upgraded.

- Character small suite at rear of building - Open plan layout featuring timber floors - Own kitchen within tenancy - Vacant now

Area m2:

70 approx

Rent $/m2

$595 Gross $41,650

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com Andrew Edwards 0411 364 232 aedwards@raywhite.com

67

50 Margaret Street , Sydney Suite 301a, 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 looking over Wynyard Park - Offered with fit out or refurbished open plan - Existing legal style fit out in place - Light on 2 sides

Area m2:

69.18 approx

Rent $/m2

$1,085 Gross $75,060

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com Jeremy Piggin 0413 336 161 jpiggin@raywhite.com

68

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

Rent $/m2

$850 Gross $50,150

: Rental PA:

Naomi Vilar 0431 209 888 nvilar@raywhite.com Anthony Harris 0409 319 060 aharris@raywhite.com

69

66 Hunter Street , Sydney Suite 901, 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

70

Area m2:

58 approx

Rent $/m2

$995 Gross $57,710

: Rental PA:

Anthony Harris 0409 319 060 aharris@raywhite.com Naomi Vilar 0431 209 888 nvilar@raywhite.com

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.

- Various sized suites from 3-17 person - Prices from $700pp, per month - Fully equipped serviced office space with furniture, shared meeting rooms and

71

50 approx

Elizabeth Braithwaite 0434 305 588 ebraithwaite@raywhite.com Naomi Vilar nvilar@raywhite.com

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

72

Rent $/m2: Rental PA:

$1,300 Gross $1,300

Naomi Vilar 0431 209 888 nvilar@raywhite.com

EXPERT COMMERCIAL LENDING YOU CAN COUNT ON

At Loan Market our brokers know that every business is different. With years of experience in commercial finance, we can help you understand your options.

So whether you’re purchasing a commercial property, developing apartments or buying a business, we will compare a large panel of lenders to find the right finance solution for you.

Call today for an obligation free appointment.

Tas Signh, Lending Manager 0425 220 000 loanmarket.com.au/tas-signh

73

Loan Market Pty Ltd | Australian Credit Licence 390222 | If you’d prefer not to receive marketing messages from me, no problem, just email or call me.

Marine Book your holiday or business charter today

Let Ray White Marine organise your next holiday or business soiree From a 10 metre day boat to a fully fledged mega yacht, let Ray White Marine Charters organise your next holiday or business function on the water •

Fleet of charter boats across Australia and internationally for every occasion

•

From 10m to 100m

•

Entertain from 1 to 150 guests

•

Day or liveaboard charter options

Ray White Marine Charters

Book your charter today 02 9818 8859 raywhitemarine.com.au/charters info@raywhitemarine.com 74