NBN Co to downsize HQ

Victoria Cross Tower will contain 58,000 square metres of Premium space.

The National Broadband Corporation will switch its headquarters within North Sydney.

The government arm has committed to 9000 square metres over six floors at the Premium grade Victoria Cross Tower, due for completion next year.

With the deal, 21.5 per cent of the 42 level, 58,000 sqm skyscraper at 155-189 Miller Street, over the new Victoria Cross Metro station, is committed.

NBN Co will vacate almost half of 100 Mount Street.

JLL’s Daniel Kernaghan and Tim O’Connor are the leasing agents.

NBN Co will downsize from c20,364 sqm at 100 Mount St, North Sydney – an office Dexus recently sold to Hines for c$600m.

Lendlease fills a fifth of tower

Lendlease owns 75pc stake of Victoria Cross Tower having sold the balance to its managed Australian Prime Property Fund in 2019.

NBN Co will occupy levels six to 11 from mid-next year.

Ventia is the other tenant to sign up, for the 26th and 27th floor, last February.

The asset is also designed with a One Playground gym, with five studios over four storeys able to host more than 200 fitness and wellness classes a week.

“The Victoria Cross integrated station precinct, being delivered by Lendlease, features generous public space and a vibrant ground plane with 21…retail and hospitality brands, 14 of which are now open in the concourse and new pedestrian laneway,” a Lendlease spokesperson said.

“These include popular operators such as Marrickville Pork Roll, Mary’s and McDonald’s,” they added (story continues below).

Ventia was the first tenant to commit to Victoria Cross Tower.

“The remaining retailers will open in early 2026, anchored by Miller House, a multi-level food and beverage destination,” according to the executive.

“On completion later this year, the…building will accommodate up to 7000 workers…and represents a once-in-a-generation transformation of an entire CBD block in the heart of North Sydney.

“The building will also be net zero carbon and all-electric, powered by 100 per cent renewables and is targeting a Platinum WELL and 6-star Green Star rating”.

NBN downsizes

The NBN will vacate about half 100 Mount St.

Executive manager, Corporate Real Estate, Facilities, Louise Bardone, said “the strength and reliability of the NBN network has allowed us to maintain hybrid work arrangements, providing employees with flexibility and in turn delivering cost savings to the business over the next eight years through optimised floor space”.

“We’ve engaged in a competitive tendering process and have chosen to occupy the low rise levels of Victoria Cross Tower to secure an attractive agreement,” she added.

“Victoria Cross Tower is conveniently located above the new North Sydney Metro Station…three minutes to Barangaroo, six minutes to Chatswood and nine minutes to Central, with trains running every four minutes,” according to the executive.

“Victoria Cross Tower is also an ideal fit for our sustainability targets and aspirations”.

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Marc Pallisco

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