Another law firm upgrades city digs
Baker McKenzie is the second law firm to commit to a premium-grade Sydney office under construction.
The group is understood to have signed for about 9,000 square metres at 55 Pitt Street, a 55-level, 63,000 sqm skyscraper being developed by Mirvac with Mitsui Fudosan Australia, the local arm of Japan’s Mitsui Fudosan Co. Building began in 2023, with completion scheduled for 2027.
The deal was reportedly in the works mid last year when Mirvac announced occupancy reached 42 per cent.
Baker McKenzie will move from 7,500 sqm at Tower One, International Towers Sydney, Barangaroo, which it moved to nine years ago, quitting the CBD.
The firm’s global headquarters is in New York, after being founded in Chicago in 1949.
Another law firm move
The Baker McKenzie commitment follows MinterEllison, which pre-leased a speculated 10,000 sqm nearly two years ago.
“With an estimated end value of $2 billion, 55 Pitt Street will be anchored by a new public precinct with retail and hospitality,” Mirvac’s Development chief executive officer, Stuart Penklis, said.
“The top two floors will feature entertainment and dining spaces, including what will become one of Sydney’s highest open-air rooftop bars with expansive harbour views,” he added.
“55 Pitt Street is positioned at the new heart of Sydney’s CBD, moments from Circular Quay, major transport links, and the city’s premier dining and cultural precincts,” according to the excutive.
Elsewhere, Dexus last year secured Allens and Pinsent Masons at 33 Alfred St, which is being refurbished (continues below).
55 Pitt Street
Penned by Woods Bagot, the Pitt St tower will include 1,200 sqm of wellness facilities, a business lounge with co-work spaces, and end-of-trip facilities.
A 22 metre entrance with a multi-storey water wall will feature a concierge.
The 830 sqm rooftop bar can accommodate 300 guests. There is also a restaurant tenancy.
“55 Pitt Street is designed as a fully electrified, net-zero operational building, targeting leading sustainability benchmarks, including a 6-star Green Star rating,” Mr Penklis said.
“The tower’s climate-responsive façade is wrapped in glazed terracotta sunshades, complemented by fresh-air access through operable windows on select floors,” he added.
“Mirvac is commissioning four public artworks in the precinct, ranging from monumental to intimate scale,” according to the executive.
Also this week, Mastercard recommitted to St Leonards, an office owned by Singapore-listed UOL.
Subscribe to our newsletter at the bottom of this page.
