WeWork – a nine-year old start up established in New York, and now Manhattan’s biggest office occupier – is reportedly close to signing a lease deal for an entire Sydney CBD building.
The co-working group is speculated to be taking up 20,000 square metre at 55 Market Street, on the south-west corner of Pitt Street.
The Australian is reporting the speculated 55 Market Street lease in this item.
In recent years, WeWork has also leased 7000 sqm at 401 Collins Street, in the Melbourne CBD, and 4788 sqm at 25 King Street in Brisbane – the latter Australia’s largest engineered timber office – owned by the Liberman-family backed Impact Investment Group.
Opposite the Pitt Street Mall, Town Hall train station and historic Queen Victoria Building, 55 Market Street is managed by Mirvac on behalf of Chinese sovereign wealth fund China Investment Corporation.
Office occupiers within the A-grade building include Hastings Funds Management, St George Bank and Westpac.
However, the office is being advertised for lease, in its entirety.
Mirvac is also promoting its intention to fully refurbish the ground floor retail space into a high-end shopping destination.