Hines finds office tenant after 991 days

A small deal has been sealed since Hines appointed Colliers to fill T3 in 2021.

The Barlow and Withers families, which own the right to sell Starbucks here, have, for the coffee house, committed to 1400 square metres of Hines’ first Australian office, completed recently in Collingwood.

Also this week, Lendlease secured the first tenant at a North Sydney office.

The deal, the building’s first, comes a staggering 991 days – just over two and a half years – since it appointed Colliers leasing agency.

Travis Myerscough, Damien Adkins, Tom Rothel and Lachlan Fitzpatrick, through multiple offices, have been driving the effort.

Following the commitment for the Starbucks support office, there is some 16,800 sqm to fill.

The business will relocate from 658 Church St, Cremorne, a tenancy the Barlow and Withers families took out six years ago, also accommodating its 7-Eleven Australia enterprise, which sold for $1.7 billion late last year.

Collingwood home to craft beer, commercial coffee

Asia Pacific’s first major timber office, the T3 building at 36 Wellington Street rises 15 floors.

Starbucks has signed up for an initial eight years commencing in June (story continues below).

“The design and sustainability features of T3 Collingwood reflects our values perfectly, and we’re excited to make this space our new home,” Chris Garlick, Starbucks Australia chief executive officer, said.

“Leasing a full floor at Hines’ remarkable timber building is an affirmation of our investment in a sustainable future and in the well-being of our partners (employees),” he added.

Starbucks operates 71 Australian stores, all on the east coast.

It has some 1500 staff.

“The market for premium green buildings is robust in Australia, driven by an informed class of tenants who recognise the long-term value of placing themselves in these spaces,” Hines head of Australia and New Zealand, David Warneford, said.

Also this week, we are reporting Lendlease found the first office tenant for a 42 storey premium grade North Sydney tower.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.