17 November 2010 – Global professional services giant AECOM has signed a lease for nine floors in one of the city’s newest five star Green Star office towers to be completed in Sydney.
The lease means the building, at 420 George Street, rated five star Green Star (V2) office, jumps to 70 per cent fully committed – in what must be a welcome sign for joint developers Fortius Funds Management and the Lend Lease managed Australian Prime Property Fund.
According to sources Sydney’s leasing market is still fragile because so many of its tenants have parent companies in the US or other parts of the world still treading cautiously after the global financial crisis.
AECOM, a Fortune 500 company that has absorbed a huge variety of professional and technical services companies including most recently in Australia Davis Langdon, has signed for 12 years in the 31-storey commercial office tower in floors 5-8 and 19-22, a total of about 10,000 square metres.
Other tenants already committed in the building include State Street Corporation, which signed a 10-year lease in February for floors 10-17 – 10,500 sq m of space and Virgin Active Health Clubs which signed for its first Sydney CBD health club with a commitment of 4500 sq m of space on Levels 2 and 3 of the building.
AECOM managing director Peter Wyton said motivating factors in the decision were to consolidate the company’s office space from five locations and the building’s green credentials.
“At AECOM, we pride ourselves on our commitment to sustainable outcomes and corporate social responsibility on a global scale,” Mr Wyton said.
“We aim to provide our staff with the best possible work environment to ensure staff retention, while at the same time occupying office space that provides the best possible environmental outcomes.
“The workspace within 420 George Street provides the office environment that enables us to realise both these goals.”
Chief executive officer of the Lend Lease managed APPF Commercial Carmel Hourigan said, “Environmentally rated buildings not only attract stronger valuations for owners, they are becoming increasingly important for our tenants. Corporations are very aware of the benefits of reducing their carbon footprint and how this helps them attract and retain the best people.
“420 George Street’s contemporary design and innovative environmental initiatives have created a building that ensures its long-term viability, and provides an outstanding internal environment for its occupants.”
The leases were negotiated by Chris Gilbert, Kevin George and Daniel Kernaghan of Jones Lang LaSalle, representing the owners. Mr George said the deal was a “great fillip for the market.”
The building’s green credentials include:
- Maximised floor plate design efficiency through side core design and ‘Cool solar orientation’ fully utilising the south facing facade.
- Innovative 30 metre high atrium maximising daylight penetration to floorplate.
- High performance insulating glass reducing building heat loads
- Combined Active Chilled Beam and Low Airflow Low Temperature air conditioning system delivering lower energy consumption, improved indoor air quality, cost efficiency and greater flexibility to tenants.
- Rainwater harvesting and capturing of the fire protection system test water for use in the building landscaping reticulation system and toilet flushing.