The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Urban Leader Awards Logos RGB White
NOMINATIONS CLOSING TONIGHT FINAL CHANCE TO GET RECOGNISED FOR YOUR WORK
NOMINATIONS CLOSING TONIGHT | URBAN LEADER AWARDS
NOMINATE NOWDETAILS
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
RetailWed 21 Feb 18

Stockland Launches $500m Tech Precinct at Macquarie Park

TUD+ MEMBER CONTENT
da0085fe-e7fd-47b1-aae2-b766c2e72b2a

Stockland has announced plans to develop a $500 million technology hub as part of the developer’s ongoing urban renewal program in Sydney’s Macquarie Park.

A development application for stage one of the state-of-the-art tech hub has been lodged for 16,500 square metres of office, retail, learning and co-working space across 10-storeys, with typical floor plates of around 1,750 square metres.

The tech hub will eventually form part of a 55,000 square metre masterplanned precinct in a campus-style project of five buildings.

Macquarie Park is home to many of Australia’s “Top 100” companies, research and education institutions. The precinct generates over $9 billion for the Australian economy each year.

Related reading: John Holland Wins Tender for $1 billion-plus Macquarie Park Project

Stockland managing director Mark Steinhert said the value of Stockland's logistics and business parks business had risen about $600 million over the past four years, from $1.5 billion to $2.1 billion.

“This development is an important part of our strategy to grow the portfolio to upwards of 20 per cent of our total assets,” he said.

Demand for prime commercial space has rebounded in 2018, with overall vacancy in Macquarie Park dropping from 8.4 to 6.0 per cent due to 13,594 square metres of withdrawals and 13,318 square metres of net absorption over the six months to January.

Related reading: Sunshine Coast's Newest Town Centre Approved for Development

Mark Steinert


Stockland reported an 18.2 per cent lift in funds from operations to $436 million in the six months to 31 December, which Steinert attributed to its diversified business model.

We have intentionally increased our weighting to Sydney and Melbourne housing, where the markets continue to be driven by structural undersupply,” Steinert said.

“Around half our residential customers are first home buyers and over 75 per cent are owner-occupiers, which places us in a preferred position in the current residential lending and policy environment.”

RetailResidentialOfficeEducationAustraliado not useSector
ADVERTISEMENT
Infrastructure

Fast-Track Funding Clears Way for 13,000 Queensland Homes

Lindsay Saunders
Morris Property Group London Circuit concept HERO
Planning

Site Consolidation Bid Latest Step for ACT Office Plan

Leon Della Bosca
Office

‘White Knight’ Cbus Property Takes 50pc Stake in Halo Tower

Lindsay Saunders
The deal is widely seen as stabilising one of the Sydney’s most complex and high-profile commercial schemes...
LATEST
Infrastructure

Fast-Track Funding Clears Way for 13,000 Queensland Homes

Lindsay Saunders
2 Min
Morris Property Group London Circuit concept HERO
Planning

Site Consolidation Bid Latest Step for ACT Office Plan

Leon Della Bosca
3 Min
Office

‘White Knight’ Cbus Property Takes 50pc Stake in Halo Tower

Lindsay Saunders
3 Min
Sterling Global 623 Collins Street tower rendering HERO
Development

Sterling Global Greenlit for Melbourne Heritage Highrise

Leon Della Bosca
4 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/stockland-launches-500m-tech-precinct-at-macquarie-park
SHARE
print
Print
TOP STORIES
Exclusive

Precinct Proposals Bloom as Brisbane Middle-Ring Sheds its Past

Phil Bartsch
8 Min
Exclusive

Newest Land Lease Player Plots Sector Shake-Up

Taryn Paris
5 Min
Waterloo Affordable Mirvac hero
Exclusive

Affordable Housing Rules Tighten as Proposal Deluge Continues

Clare Burnett
5 Min
Exclusive

Beyond the Aerotropolis: How Airports are Turning into Cities

Taryn Paris
6 Min
Exclusive

Inside the Strategy Behind Australia’s Largest Direct Real Estate Deal

Phil Bartsch
5 Min
View All >