The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
URBAN LEADER AWARDS ARE BACK! START YOUR NOMINATIONS
URBAN LEADER AWARDS ARE BACK! START YOUR NOMINATIONS
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
22
print
Print
OfficeDinah Lewis BoucherTue 23 Jul 19

Microsoft Secures New HQ in North Sydney

d781ec3e-0317-48b8-920c-983e146abc41

Microsoft is set to relocate its head office to a new $1.2 billion building in what will become North Sydney’s tallest tower.

The tech company has secured a 10-year lease on the Bates Smart-designed office building, at 1 Denison, in what will be the suburb's largest premium grade commercial office building.

Originally the site of the North Sydney Shopping World, developer Winten Property Group purchased the site for around $80 million in 2016.

The 39-storey tower, currently under construction by Multiplex, will offer a net lettable area of 61,600sq m and is scheduled for completion by the end of next year.

Related: QBE Signs Deal For George Street HQ

Winten Property Group has secured a 10-year lease with Microsoft Australia. The tower is located between the new Victoria Cross Metro station and North Sydney Train Station.


Microsoft Australia managing director Steven Worrall says the move will consolidate a number of Sydney offices, including its current head office in North Ryde.

Microsoft will keep its Martin Place "technology centre" which opened earlier this year.

“The [North Sydney] investment reflects Microsoft’s commitment to its Australian employees, customers and partners,” Worrall said.

“Having the flexibility to design and build our own space ensures we can bring our vision of a modern world of work to life.”

Microsoft will occupy seven levels, spanning levels 25 to 31 of the tower, up to 10,655sq m, with plans to move into its new premises in mid-2021.

Winten’s development director Stuart Vaughan said North Sydney has become an attractive tenancy choice for companies “seeking quick access to the city and high-quality amenity without the price tag”.

“We are receiving strong enquiry from media, pharmaceutical and technology related businesses who are not traditionally working in the North Sydney area as well as Sydney CBD based businesses,” Vaughan said.

“More businesses are investing in North Sydney and bringing amenity and hotels to the area including 88 Walker Street and Vibe Hotel.”

Spurred by Sydney’s infrastructure boom and continued growth of the tech sector, CBRE’s recent review of the Sydney office leasing market shows professional services firms, technology and IT tenants have taken a larger portion of office space, overtaking finance and insurance as the city’s top employer.

Colliers International’s head of tenant advisory Simon Crouch represented Microsoft in the transaction, while CBRE regional director Mark Lacey represented Winten.

OfficeInfrastructureHotelAustraliado not useConstructionReal EstatePlanningPlanningSector
AUTHOR
Dinah Lewis Boucher
More articles by this author
ADVERTISEMENT
TOP STORIES
Exclusive

Robots Not a Miracle Cure for Housing Productivity Crisis

Vanessa Croll
6 Min
Exclusive

Where 600 Wealthy Families Are Putting Their Millions

Taryn Paris
6 Min
Brique Projects EDM
Exclusive

Brique Thrives in Cauldron of SE Queensland Development

Clare Burnett
7 Min
Henny Prime Henny Background
Exclusive

Why Henny and Prime Edition are Moving into Student Living

Leon Della Bosca
7 Min
Riverlee Seafarer's 1 Hotel HERO
Exclusive

Melbourne’s North Bank Awakens After Decades of Dormancy

Leon Della Bosca
8 Min
View All >
Exclusive

The Urban Developer Awards for Industry Excellence Winners Revealed

Editorial Desk
Bates Smart Architects' rendering of the two towers for Lendlease, MEA and NSKRE's project at 175 Liverpool Street in Sydney.
Residential

Lendlease Signs Partners for Hyde Park Highrise

Marisa Wikramanayake
Markets

Turn of the Tide as Supercycles Track Upwards

Clare Burnett
As markets reach the bottom and green shoots of growth appear, the eyes of the industry are on who will benefit most…
LATEST
Exclusive

The Urban Developer Awards for Industry Excellence Winners Revealed

Editorial Desk
14 Min
Bates Smart Architects' rendering of the two towers for Lendlease, MEA and NSKRE's project at 175 Liverpool Street in Sydney.
Residential

Lendlease Signs Partners for Hyde Park Highrise

Marisa Wikramanayake
2 Min
Markets

Turn of the Tide as Supercycles Track Upwards

Clare Burnett
5 Min
Exclusive

Robots Not a Miracle Cure for Housing Productivity Crisis

Vanessa Croll
6 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/microsoft-secures-new-hq-in-north-sydney