Australian media company Nine has increased its office space, securing a 25,000sq m lease for 12 years at a 39-storey commercial office building in North Sydney.
The media group is extending its original lease from 18,500sq m to combine all of its Sydney divisions into the one office, at 1 Denison the $1.2 billion development by Winten Property group.
The media company will commence relocation from the second half of 2020, moving employees from Willoughby, Pyrmont and the CBD into the new state-of-the-art North Sydney location.
“Nine is very pleased to extend our relationship with Winten through this expansion,” Nine’s group head of property Scott Soutar said.
“We anticipate the completion of the project which for us will facilitate, for the first time, bringing together our broadcast and publishing businesses under one roof.”
Nine will join Microsoft, who recently secured a 10 year lease at the North Sydney office building last month.
Multiplex is currently constructing the Bates Smart designed project with completion slated for the second half of next year.
“As Sydney continues to expand, the North Sydney precinct will further ascend as a pivotal business and lifestyle hub,” Winten Property Group development director Stuart Vaughan said.
“Which is a catalyst to it regaining its position as the media and technology hub.”
Developer Winten Property Group purchased the site for around $80 million in 2016.