Nine Entertainment has increased by 35 per cent its commitment to a landmark office under construction in North Sydney.
Nine had originally agreed to rent 18,500 square metres at 1 Denison Street – set to be the suburb’s tallest commercial building.
Today, it said it increased its requirement to 25,000 sqm.
The agreement is for a 12 year term commencing in the second half of 2020.
Nine, which recently acquired Fairfax Media and its Domain Group division, will consolidate staff from television and print arms at Pyrmont and the CBD to 1 Denison Street.
Staff from the current headquarters at Willoughby will join them allowing that site to be turned into a housing estate.
The North Sydney lease includes a ground floor reception and studio space plus 13 office floors: levels G to nine in the low-rise component of the building, and 19-22 in the mid-rise.
Floor plates will range in size from 1650 sqm to 2517 sqm, which is high for central Sydney.
East Melbourne-based architecture firm Bates Smart will fit out Nine’s new base.
The $1.2 billion 1 Denison Street office is being developed by Winten Property Group on the site of former shopping centre North Sydney New World.
Last week we reported that software giant Microsoft leased a 10,000 sqm space at the office for its Australian headquarters. Microsoft’s Australian head office is currently in Ryde.
The other major occupier to commit to 1 Denison Street is software group SAP, which will rent 6000 sqm.
1 Denison Street, North Sydney
At 39 storeys, 1 Denison Street is set to be North Sydney’s tallest skyscraper.
It will contain 61,600 sqm of lettable area.
“As Sydney continues to expand, the North Sydney precinct will further ascent as a pivotal business and lifestyle hub, which is a catalyst for it regaining its position as a media and technology hub,” Winten Property Group development director Stuart Vaughan said.
“North Sydney’s skyline is rapidly changing with several new hotels moving into the area. Large corporates are also realising the significant benefits associated with moving to North Sydney.
“These include quick transport access to the CBD, flexible and modern office spaces, a wide selection of shopping centres and malls and accessibility to a large pool of skilled employees from different industries that live in the area,” he added.
“One of the defining features of 1 Denison will be its first class selection of eateries, restaurants, bars and cafes,” Mr Vaughan said.
“It will become a popular meeting point for North Sydney residents, tenants and business owners”.