Investa, Gwynvil Reach Completion on $1bn Martin Place Tower
Investa Commercial Property Fund and Gwynvill Group’s 33-level Martin Place tower in Sydney’s legal precinct has reached practical completion.
The Hassell-designed tower, constructed by Lendlease over four years, sees 60 Martin Place, known as Sixty Martin Place, span more than 40,000sq m of lettable area over the 33 levels.
ICPF’s head of commercial development Mark Tait says the property is 80 per cent pre-committed, with the remaining space in the final stages of negotiation.
▲ Investa Commercial Property Fund and Gwynvill Group’s have reached practical completion on the Hassell designed 60 Martin Place. Image: Hassell
The completion comes amid the Sydney CBD office market seeing record low office vacancy.
In its Sydney CBD office report released this month, Knight Frank said more than 75 per cent of stock under construction is now pre-committed.
“To complete this premium development at close to full occupancy, is a great development outcome,” Tait said.
Major tenants include Norton Rose Fulbright, Mizuho Financial Group, Banco Chambers and International Workplace Group’s Spaces, along with legal and infrastructure investment management firms Thomson Geer and HRL Morrison.
In August the flexible workspace provider Spaces secured 4,400sq m, while Thomson Geer secured 3,193sq m on levels 12-14, investment management firm HRL Morrison secured 827 square metres.
The building is targeting environmental performance ratings, including a 6 Star Green Star Design and As-Built Rating a NABERS Energy 5 Star in Operation Rating and Core WELL Rating.