German medical group B. Braun has paid $4 million for an 8000 square metre parcel at Sydney’s Norwest Business Park – being developed by FKP Property Group and Mulpha Australia.
The occupier will establish a new national head office at the site’s Circa precinct.
A copy of its announcement is below:
A $4 million commercial land sale will see one of the world’s largest family-owned medical companies establish its Australian head office in the Circa precinct, the newest chapter of Sydney’s Norwest Business Park.
B. Braun Australia has purchased 8,000 square metres of land to build an office at Circa, the business precinct jointly owned by FKP and Mulpha Australia.
The B. Braun Australia headquarters will be situated directly across the road from the Norwest Private Hospital, which has already expanded since its construction.
The greenfield land sale is the largest to have taken place at Norwest since the Global Financial Crisis.
This is B. Braun’s second major investment in the Norwest Business Park. In 2002, the company invested almost $7 million in the construction and fit out of their existing purpose built premises.
“This further investment signifies our rapid expansion and sets the foundation for the future growth of our organisation”, said B. Braun Australia’s Managing Director, David Crawford.
“State of the art design in keeping with our responsibility as a corporate citizen operating in this community and an ongoing commitment to protect the environment, are key factors being considered in the selection criteria of like-minded partners to progress this project,” said Mr Crawford.
Executive General Manager Commercial and Industrial Andrew Hall said the purchase of the land was a clear sign that business had returned to Sydney’s North West.
“B. Braun has seen the Circa vision and responded by becoming a part of this landmark development. I expect more businesses will now follow,” Mr Hall said.
Norwest developed the Norwest Business Park, which has become a hub for some of the country’s biggest businesses, including Woolworths and Resmed.
Completion of the B. Braun Australia development is anticipated late 2012.