The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
2 WEEKS UNTIL OUR UNMISSABLE FLAGSHIP CONFERENCE MORE THAN 550 ALREADY ATTENDING
2 WEEKS UNTIL OUR FLAGSHIP CONFERENCE 550+ ALREADY ATTENDING
REGISTER 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
SHARE
print
Print

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
TOP STORIES
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
Freecity Rouse Hill triple towers 2 Tempus Street
Exclusive

Freecity Takes Covers Off $330m Triple Towers in Sydney’s North-West

Leon Della Bosca
5 Min
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Exclusive

Interstate Developers Find Lots to Love in ‘Progressive, Affordable’ SA

Taryn Paris
5 Min
Bates Smart Richmond Sportslink HERO
Exclusive

BtR Focus Drives Bates Smart’s Richmond Sportslink Concept

Leon Della Bosca
6 Min
View All >
Stockland's Triniti HERO
Build-to-Rent

Stockland $400m North Ryde BtR Approved on Appeal

Leon Della Bosca
Logan Wastewater Funding hero
Infrastructure

Flush of Funding to Deliver 20,000 New SEQ Homes

Phil Bartsch
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
Global ports shift up to 30 per cent of containers by rail—Brisbane moves less than 2 per cent. Here’s why that’s a prob…
LATEST
Stockland's Triniti HERO
Build-to-Rent

Stockland $400m North Ryde BtR Approved on Appeal

Leon Della Bosca
3 Min
Logan Wastewater Funding hero
Infrastructure

Flush of Funding to Deliver 20,000 New SEQ Homes

Phil Bartsch
3 Min
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
Industrial

Inland Rail: Site at Rural Hub Comes to Market in Victoria

Lindsay Saunders
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/stockland-launches-500m-tech-precinct-at-macquarie-park