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
111
print
Print
OtherAna NarvaezFri 12 Apr 19

Walker Corporation Secures Anchor Tenancy at $3.4bn Parramatta Square

4aa2e320-a5f1-4802-af45-cd459c66fb86

Walker Corporation has struck a major tenancy deal with the NSW government that will help fill its $3.2 billion Parramatta Square development, winning a Property NSW tender to lease 43,800sq m of A-grade office space.

The NSW government will take out a 12-year lease, with two further five year options, at the recently-approved 6 Parramatta Square. Marketed as Australia’s biggest office project, the two towers — 6 and 8 Parramatta — will deliver 124,000sq m of office space.

It is the second of two major NSW government leases secured by Walker Corporation, with the government confirming it would lease 62,000sq m across the first two towers in the commercial precinct.

At least 4,200 public servants will be relocated to Parramatta.

Designed by Sydney architecture firm Johnson Pilton Walker, towers 6 and 8 join the developer’s under-construction 3 and 4 Parramatta on the three-hectare site, which are fully pre-committed to the National Australia Bank and various NSW government departments.

Related: Walker Corp Offloads Proposed Ann Street Tower

NSW government tenants will now take up more than 105,000sq m of office space at Parramatta Square.Johnson Pilton Walker.


The Walker Corporation, who won the $1 billion-plus tender to develop the precinct in 2015, moved to change the precinct’s ā€œcentrepieceā€ — tower 8 — from residential to commercial in 2017. The City of Parramatta voted to change the use of the 243-metre tower, originally dubbed ā€œAspireā€, to commercial soon thereafter.

Chairman Lang Walker said the towers are now 75 per cent pre-leased, with more than 170,000sq m committed.

ā€œWe expect to experience a strong flow of pre-leases off the back of the two anchor tenants signing long term leases in the project,ā€ Walker said.

ā€œParramatta has the lowest vacancy rate of any office market in Australia and is being enhanced [by the] light rail, the promise of a new rapid transit metro, the new Parramatta Stadium, Powerhouse Museum and other important public spaces.ā€

The precinct includes the University of Western Sydney Campus, civic building, public library and a 250-metre long public domain.

OtherResidentialOfficeAustraliaParramattaConstructionReal EstatePlanningPlanningSector
AUTHOR
Ana Narvaez
The Urban Developer - Editorial Director
More articles by this author
ADVERTISEMENT
TOP STORIES
Scape PBSA Kingsford EDM
Exclusive

It Takes More Than a Room: PBSA Evolves to Meet Student Demands

Clare Burnett
7 Min
Exclusive

Soheil Abedian: What’s Driven the Man Who’s Transformed a City

Phil Bartsch
7 Min
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
View All >
Scape PBSA Kingsford EDM
Exclusive

It Takes More Than a Room: PBSA Evolves to Meet Student Demands

Clare Burnett
Infrastructure

Invest Gold Coast Launches Hunt for $500m Arena Partner

Renee McKeown AND Taryn Paris
Industrial

ISPT Files Plans for Dandenong Mega-Logistics Project

The super-backed developer and investor is planning a $1.1-billion precinct across the 62ha site…
LATEST
Scape PBSA Kingsford EDM
Exclusive

It Takes More Than a Room: PBSA Evolves to Meet Student Demands

Clare Burnett
7 Min
Infrastructure

Invest Gold Coast Launches Hunt for $500m Arena Partner

Renee McKeown AND Taryn Paris
3 Min
Industrial

ISPT Files Plans for Dandenong Mega-Logistics Project

2 Min
Salvos Coliving EDM
Residential

Investa, Salvos Reveal Co-Living Plan for Sydney CBD

Clare Burnett
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/walker-corporation-secures-anchor-tenancy-at-34bn-parramatta-square