Sony relocates North Sydney HQ
Sony Australia will relocate its electronics division’s headquarters within North Sydney.
The technology giant has leased 1700 square metres – all of level seven – at 73 Miller Street, on the north east corner of Blue.
The landlord, ESR Australia, recently finished a $60m renovation and extension of the 1980s building.
Now over 13 floors, it contains c19,062 sqm of lettable office area.
Also just committing to the property is financial services provider Axi and utilities company, Altogether Group, which between them have rented 1100 sqm.
Last year – as the refurbishment was taking place – oOH Media! took a 10 year lease over 6858 sqm, while engineering firm Taylor Thomson signed for 1720 sqm for 7.5 years.
It was also then speculation was rife ESR could have been considering selling the investment.
Good timing, plenty of options: Sony
After 31 years, Sony Australia moved its electronics division from North Ryde to 165 Walker St, North Sydney, in 2014.
“As a sales and marketing business it is integral that each of the functions within Sony Australia can collaborate cohesively, so the opportunity to move from being set over three floors to the single floor space at 73 Miller St was extremely attractive,” the occupier’s Facilities & EHS manager, Tim Hastings, said.
“North Sydney is still the right fit for Sony Australia, and our lease happened to come up at a time when the options for commercial space have improved dramatically; in this competitive market, 73 Miller St presented best and aligns with our strategy for the business over the next seven years,” he added.
The new office will be fit out with 135 work stations, a large training room and product demonstration space; it is unknown if the group has signage rights (story continues below).
Its Walker St headquarters is held by private investor Albert Malki, who in 2017 paid $60m to Charter Hall, which held it in the Direct Office Fund.
73 Miller Street
ESR added two levels as part of its 73 Miller St refurbishment.
It also extended the lower floors to create larger floorplates.
The office quality is considered A-grade.
“The elevation of 73 Miller St to a modern…building underpinned its ability to secure significant deals in a challenging leasing environment,” ESR Australia chief executive officer, Phil Pearce, said.
“With rising vaccination rates and confidence growing that workers will soon return to the office, we are witnessing a flight to quality, with businesses looking to get ahead of the market,” he added.
Axi has rented the top level, which offers city and harbour views.
Cushman & Wakefield’s Giuseppe Ruberto and Tom Molchanoff were the leasing agents.
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