Hub signs office lease deal with a twist at $2b Brookfield Place

The 27-level, 59,000 square metre Brookfield Place office under construction in the Sydney CBD.

Australian co-working giant Hub has leased two levels within Brookfield Properties’ Brookfield Place office tower, under construction at Wynyard station in Sydney.

The tenant will occupy 4000 square metres of the 27-storey skyscraper.

Ten per cent of that will be set aside as a free premium lounge for other building occupants (artist’s impression, top).

The office is due for completion in mid-2021.

Brookfield Properties executive vice president and co-head, Carl Schibrowski, said the breakout area model is servicing a growing demand from its tenant clients seeking flexibility in the way they deliver for their staff and customers.

“We knew very early on in our talks with Hub Australia that there was a very strong cultural alignment to the premium nature of the Brookfield Place Sydney project,” the executive added.

“The business lounge will provide areas for tenants to conduct…transactions away from regular office spaces, as well as provide real flexibility by way of additional workspaces, meeting rooms and conferencing facilities.”

Last year we reported about a Melbourne CBD leasing brief seeking permanent accommodation in a building which also had co-work tenants, or was near to options.

Hub Australia chief executive officer and founder Brad Krauskopf said “the flexible workspace industry continues to evolve at a rapid pace” and “in the wake of COVID-19, there is new importance for landlords and tenants to provide attractive spaces and provide flexibility to all businesses” (story continues below).

New importance for landlords to deliver for tenants post COVID-19: Hub

“Hub Bespoke has been developed to assist landlords to add value to their buildings and create more attractive spaces for tenants,” Mr Krauskopf added.

“Our partnership will allow us to deliver Hub’s premium-level hospitality experience to all tenants in the flexible workspace, business lounge, café, and serviced meeting spaces operated at Brookfield Place Sydney”.

Brookfield Place at 10 Carrington Street is set to open in mid-2021.

As well as the 59,000 sqm skyscraper, the redevelopment will see heritage offices Shell House and 285 George St restored and 7000 sqm of high end retail created around a revitalised Wynyard Lane.

Wynyard train station’s George St entrance will also be upgraded and connected to a transit hall and public concourse.

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Marc Pallisco

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

Marc Pallisco