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WeWork Takes Out Entire Lease of Barangaroo Office Building


Global co-working giant WeWork will lease all six floors of commercial office space at Lendlease’s newly-approved Daramu House office building at Barangaroo South.

The co-working provider will occupy 100 per cent, or 10,000sq m, of the building’s office lease, which will provide for 2,000 of its members.

Designed by Alec Tzannes, Lendlease received the green light for Daramu House – its second Barangaroo South office building – early last month.

It is Lendlease’s sixth engineered timber building in Australia.

WeWork Australia senior director of real estate Jonathan Kearins welcomed the building's addition to its fast-growing Sydney CBD portfolio.

“This site will showcase the wonderful synergies between our classic [start-up] members and our enterprise corporates.”

WeWork’s “enterprise” members are companies with 1,000 employees or more which sign up to longer leases, enterprise members make up 20 per cent of total membership for the company.

Australian enterprise companies including Microsoft, Deliveroo and Box.

“Many of our enterprise members are already located within the Barangaroo precinct, so WeWork at 1 Sussex St will provide great new amenity for them,” Kearins said.

Related: WeWork Continues Sydney Expansion with Fifth Site

Daramu House means “tree house” in the local Aboriginal language. WeWork will occupy 100 per cent, or 10,000sq m, of the building’s office lease.
Daramu House means “tree house” in the local Aboriginal language. WeWork will occupy 100 per cent, or 10,000sq m, of the building’s office lease.


“People around the world are demanding greater flexibility in how they work. WeWork’s decision to lease Daramu House in its entirety is evidence of this trend," Lendlease managing director of urban regeneration Mark Menhinnitt said.

"It’s also a really strong endorsement of Barangaroo South.

"WeWork’s members will join the almost 20,000-strong cohort of workers that have already made Barangaroo one of Sydney’s best and most exciting places to work.”

Daramu House is the ninth location WeWork has secured in Australia.

Last week the company announced its first Brisbane site at 310 Edward Street which it will open later this year.

WeWork’s newest Sydney location is expected to open in early 2020.

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Article originally posted at: https://theurbandeveloper.com/articles/wework-takes-out-entire-lease-of-barangaroo-office-building-