Construction is officially underway at 177 Pacific Highway, North Sydney’s first new commercial tower in six years, following a formal groundbreaking ceremony at the 2,418sqm site.
The $413M, 40,000sqm, 30-level development is being developed by Leighton Properties and built by Leighton Contractors. It will become the Leighton Group’s new global hub, with the Group to take the head lease.
Guests including Leighton Holdings Chief Executive Officer Mr Hamish Tyrwhitt, Leighton Properties Managing Director Mr Mark Gray, Leighton Contractors Managing Director Mr Craig Laslett, North Sydney Mayor Jilly Gibson, ARA Group Chief Executive Officer Mr John Lim and Chief Executive Officer of Suntec REIT Mr Yeo See Kiat, gathered to mark the occasion on the site at the corner of Berry Street and Pacific Highway in North Sydney.
Mr Tyrwhitt said: “This is a great milestone to be celebrating today. For the Leighton Group this is a step towards creating the next generation workspace for our staff – one that fosters collaboration, innovation and performance and is an example of our corporate values.”
Mr Gray said: “177 Pacific Highway will add an entirely new dimension to the North Sydney skyline. Being the first new ESD rated commercial tower in six years it will provide the market with much-needed A-grade accommodation. It signals an important next step in North Sydney’s continued development as a commercial CBD.”
10,000sqm of top level space, with large floor plates and harbour views, remains available for lease in the building.
“We expect the certainty of the completion date, and the commitment and involvement of Leighton, will make this a highly sought-after building for companies wanting to secure a noteworthy address,” said Mr Gray.
Mr Laslett said: “Leighton Contractors is proud to be building the landmark new headquarters for the Leighton Group. After building new Leighton offices in Brisbane, Perth and Melbourne, our experience will be central to delivering an important consolidation for the Group in Sydney and an iconic new building for the city.”
Designed by award-winning architect Bates Smart the building is scheduled for completion and occupancy in early 2016.
The development will use efficient and flexible design, and target the achievement of 5 Star Green Star and 5 Star NABERS energy ratings for the building. The ground levels will provide a vibrant town square atmosphere, comprising a spectacular entry height of more than 13 metres, as well as cafés and retail amenity.
The building will house the Leighton Group’s New South Wales workforce of 2,500 people and be the company’s purpose-built headquarters. Architect Woods Bagot has been engaged to fit out Leighton’s tenancy of 30,000sqm, creating a ‘vertical village’ with a strong focus on health, amenity and best practice workplace design.
Mr Yeo See Kiat said: “We are delighted to partner the Leighton Group in this exciting project. We look forward to the completion of this iconic landmark development in North Sydney and to welcoming the Leighton Group to their beautiful new global headquarters in 2016” Suntec REIT purchased the development from Leighton Properties in November last year.
For more information
National Marketing Manager
Phone+61 2 9925 6111