Sources say the five-level campus-style building could be developed on a speculative basis, a claim denied by Investa, which says it may reassess after it starts marketing.
The project will include about 9000 sq m of office space and strata office space, with large floor plates of up to 2400 sq m. It also includes about 1000 sq m of retail space, most of which will be used as a licensed restaurant and bar, and parking for about 300 cars.
The site is at the corner of Johnston Street and Trenerry Crescent, and will be marketed as Trenerry on Studley Park.
Agents say offices in the small riverfront precinct near Dights Falls are popular and can command rents of $300 per sq m, among the highest in the eastern suburbs.
"We are targeting larger office tenants with a desire to have easy access to and from home, in an environment surrounded by parkland with inner-city amenity," said Investa general manager of commercial development Victoria Paul O’Brien.
CB Richard Ellis and Colliers International have been appointed conjunctional agents to lease the building.
Investa says it plans to start building in July, and it will be open late next year to coincide with the opening of the EastLink Freeway. Last week it was reported that Investa was in negotiations to buy two more riverside blocks of land at the Botanicca Corporate Park in Richmond, in deals worth more than $15 million.