Yuhu secures Wellways for five years at Pymble

Yuhu paid $81 million for Pymble Corporate Centre in 2017.

Not for profit mental health and support group, Wellways Australia, has rented a larger office space within Yuhu Group’s Pymble Corporate Centre, in north west Sydney.

The five year lease for the first floor tenancy at 20 Bridge Street, Pymble, was struck with the net starting rent at $350 per square metre, per annum.

The occupier will relocate from a ground floor retail premises fronting the busy Pacific Highway.

Its new site has a quieter, garden setting.

About 15 kilometres from the city, and on the road which acts as the Gordon suburb border, Pymble Corporate Centre also has a cafe, restaurant and childcare centre.

CBRE’s Ben Byford and Peter Mangraviti said Wellways wanted a more efficient office space – and that the onsite parking at the business park was “a major drawcard” for enabling the group to better service clients.

Yuhu, a China backed local property developer, paid $81m for Pymble Corporate Centre in early 2017 (story continues below).

On 1.1 hectares, it comprises three offices up to four levels and with a total 14,349 square metres of lettable area.

There’s also 590 car parks.

The property has redevelopment potential – but at present, given the zoning, this couldn’t include residential (a sector the owner has some experience in).

Pymble Corporate Centre is next door to the (950 Pacific Highway) site which from 1968 until last year accommodated 3M’s landmark and purpose built Australian headquarters – believed to be the first cirvilinear building on Sydney’s North Shore.

Designed by local architects Hanson, Todd and Partners to achieve maximum brand exposure to commuters on the highway, and Ryde and Mona Vale roads, it is now earmarked for a Bunnings outlet.

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Marc Pallisco

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