Mirvac, M&G strike string of Sydney office deals
Mirvac and M&G Real Estate have filled some 10,000 square metres of a Sydney CBD office renovated last year.
Beca, Databricks, DoorDash, Gilchrist Connell and The Executive Centre are amongst the corporate tenants to commit to 400 George Street.
Two ground floor retail spaces have also been rented; the revamp included a new lobby with concierge service, meeting rooms, a wellness centre and upgraded end-of-trip facilities.
The pair have for five years also co-owned the nearby EY Centre at 200 George St (M&G with a 49.9 per cent stake).
EY recently renewed its anchor tenancy there – for 25,850 sqm – until 2036.
The 38-storey tower contains 39,047 sqm of lettable office area the landlords rate Premium grade and four level basement car park.
M&G bought its stake after Mirvac, to block a third-party purchaser, exercised a pre-emptive right with then co-owner, the AMP Capital Wholesale Office Fund.
The interest cost $578.5m in 2021 (continues below).
Premium office
The repositioning of 400 George St also includes a permanent digital artwork, WADHA GWIYAALA NANGU (Where the Stingrays Rest) by Jerrinja and Djirranganjj and Yuin artist Aaron William Kennedy.
A through-site pedestrian link connects to the Sydney Arcade and Pitt Street Mall.
The 30-level building contains 50,000 sqm of lettable office area the landlords market as Premium.
“The strong leasing momentum we’ve seen over the past 12 months demonstrates how customers continue to respond to well-located workplaces that help people perform at their best,” Mirvac chief asset management officer, Victoria Tavendale, said.
Earlier this month realestatesource.com.au reported Mirvac and Perron sold the ex-Reader’s Digest headquarters in Ultimo. The pair held that asset 10 years.
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