WeWork, a New York City-based startup that rents office space is getting ready to move into their new Sydney digs as anchor tenants at Charter Hall's redevelopment of 333 George Street in Sydney.
The move by the global co-working company will take the $250 million project to full occupancy.
The project is part of the unlisted Charter Hall Prime Office Fund, and reportedly a speculative development until the news that WeWork would be taking up residence.
The 4300 square metre WeWork lease, foreshadowed last year, spans five floors of the new tower, which will overlook the new light rail along George Street.
This new occupancy now adds to WeWork's existence in Sydney, which began with a site in Martin Place and then in Pyrmont.
New York’s WeWork Opens In Sydney]"The completion of 333 George vindicates the fund's strategy to speculatively build in this location," Charter Hall fund manager Craig Newman told the Australian Financial Review.
Around 14,500 square metres of net lettable area has now been leased at 333 George Street, which represents 100 per cent of forecast income for the property.
333 George Street is located on the corner of George Street and Martin Place, and comprises of 15 floors of commercial office space and three levels of highly sought-after retail space.
The WeWork tenancy will be across the terrace level floors.
Designed by international architects, Grimshaw and Crone Partners, 333 George Street offers 15 levels of contemporary office space across 12,500sqm and three levels of statement retail across 2,100sqm with extensive frontage to George Street, creating a flagship retail destination.
WeWork currently has around 70,000 members, located in over 100 physical locations in more than 30 cities and 12 countries around the world.