DLA Piper chooses No.1 Martin Place for new Sydney Headquarters
Global law firm, DLA Piper, will relocate its Sydney headquarters to Charter Hall's No.1 Martin Place tower after negotiating a circa 6,000 square metre lease agreement. In one of the largest leasing transactions in the Sydney CBD this year, DLA Piper will occupy five floors in the landmark high rise building, which is owned by No.1 Martin Place Trust and the Charter Hall Office Trust, on a 10 year lease term.
Charter Hall's Joint Managing Director, David Harrison, said the commitment affirmed the tower's status as one of the most recognised business addresses in Australia.
'We are delighted that DLA Piper has selected No.1 Martin Place as the location for its new Sydney headquarters and we look forward to welcoming them into this prime quality building in mid-2014.
'There has been significant leasing activity in the Martin Place precinct over the past 18 months as tenants refocus on the considerable benefits of operating out of high quality buildings, located in the heart of the CBD, surrounded by customers and clients. Importantly, Martin Place also provides employees with the opportunity to enjoy great access to the CBD's best retail amenity and public transport,' Mr Harrison said.
Andrew Darwin, Managing Partner Australia at DLA Piper, said the relocation to No.1 Martin Place highlights the importance of Australia in general - and Sydney in particular - to DLA Piper.
'Sydney is one of DLA Piper's flagship offices and having premises that are commensurate with our market positioning is critical. This move puts us in the heart of the CBD's business and financial community and is one of a number of initiatives to develop DLA Piper's Australian operations,' Mr Darwin said.
'We have successfully integrated our Australian offices, both financially and operationally, and the move to No.1 Martin Place is another important step in the evolution of our Australian business. It's a great opportunity for us to apply some of the best practice from around the world so that we can provide the most efficient and effective support to our clients and our people,' Mr Darwin added.
DLA Piper was represented by Michael Kearins, Director of Cushman & Wakefield's Occupier Services business. Cushman & Wakefield's Managing Director David Woolford said: 'Being at the forefront of workplace strategy, Cushman & Wakefield was able to provide a solution to assist DLA Piper's global real estate strategy and No.1 Martin Place was able to provide the important criteria to meet with DLA Piper's future plans.'
The leasing of No.1 Martin Place is being managed by CBRE's James Patterson and Jenine Cranston in tandem with Greg Fisher and Mark Semple of DTZ.
Mr Patterson at CBRE said: 'We are in a competitive leasing market at the moment with tenants focussing on high quality.'
The 24-level prime quality office building has large, flexible floors and is one of the best known business addresses in the Sydney CBD.
DTZ's Mr Fisher said Macquarie's Martin Place project was one of a number of major development and refurbishment projects underway that were bringing energy to the Martin Place precinct and helping to generate considerable tenant demand.
In the past 18 months, tenant commitments for the Martin Place precinct have exceeded 60,000 square metres of space, reinforcing the quality, convenience and amenity of this unrivalled location.
For further information, please contact:
Joint Managing Director
T: +61 8908 4033
Joint Managing Director
T: +61 8908 4025
Head of Listed Investor Relations
T: +61 2 8295 1016
Head of Marketing and Communications
T: +61 2 8908 4093
About the Charter Hall Group:
Charter Hall Group (ASX:CHC) is one of Australia's leading fully integrated property groups, with over 20 years' experience managing high quality property on behalf of institutional, wholesale and retail clients. Charter Hall has circa $10 billion of funds under management across the office, retail, industrial and residential sectors. The Group has offices in Sydney, Melbourne, Brisbane, Adelaide and Perth.
The Group's success is underpinned by a highly skilled and motivated team with diverse experti se across property sectors and risk-return profiles. Sustainability is a key element of its business approach and by ensuring its actions are commercially sound and make a difference to its people, customers and the environment, Charter Hall can make a positive impact for its investors, the community and the Group.
About DLA Piper:
DLA Piper is a global law firm with 4,200 lawyers located in more than 30 countries throughout the Americas, Asia Pacific, Europe and the Middle East, positioning it to help companies with their legal needs anywhere in the world.
For further information about our organisation and services, please visit our website: www.dlapiper.com