Sony signs up to 165 Walker Street
Demonstrating the growing demand for quality office accommodation in North Sydney, Sony Australia Limited (Sony) has signed a lease to move a number of its divisions into Charter Hall Direct Property Fund’s (CHDPF) 165 Walker Street, North Sydney.
Sony will occupy three levels totalling approximately 2,400 square metres of the recently refurbished office building, representing 50% of the buildings NLA. The seven year lease, which commences in February 2015 and includes naming and rooftop signage rights along with car parking, takes the buildings weighted average lease expiry to 5.7 years.
Steve Bennett, CHDPF Fund Manager, said: “This new lease is positive result for the building and the funds investors and is a great example of how Charter Hall is able to provide our tenants with tailored accommodation solutions, with the deal incorporating naming and signage rights, given the buildings prominent corner position and branding exposure to the Warringah Freeway”.
Charter Hall’s Senior Asset Manager, Jason Maxwell, said: “We have been actively repositioning 165 Walker Street over the past year, undertaking a significant refurbishment works to the building with improvements to the ground floor lobby, mechanical services, tenancy lighting and lifts. We are very pleased to be welcoming such a high calibre tenant to 165 Walker Street and look forward to working with them as they move into the building in 2015”.
Marcus Pratley of Cadigal Office Leasing, who negotiated the lease for Charter Hall, added: “We are starting to see a number of larger traditional business park occupiers like Sony re-visit more traditional CBD’s like North Sydney given their desire to improve employee amenity, transport links and create a larger catchment to attract employees”.
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