SYDNEY, 2 July 2018 – Brookfield Property Partners L. P. (“Brookfield”) (NASDAQ: BPY; TSX: BPY.UN), on behalf of its institutional partners, has finalised a 10-year lease agreement with global insurance institution, Allianz, who will be moving their Sydney headquarters to Wynyard Place Sydney.
Allianz’s relocation to Wynyard Place will provide premium accommodation in the centre of the CBD and a good connection with their North Sydney premises which will house its new centre of excellence for IT services.
Allianz will be adopting Activity Based Working and a new standard in workplace design across large, efficient floor plates of 2,500 square metres (27,000 square feet). The office tower maximises natural light overlooking Wynyard Park and as well as CBD views.
Allianz Australia Managing Director Richard Feledy said, “As an employer of choice, Allianz is committed to attracting and retaining the best talent and making sure that our people have the right tools and environment to embrace technology whilst maximising flexibility, mobility and collaboration.”
“As workplaces adopt a more autonomous work style, companies need to provide employees with more choice around how, when and where they work. The move to Wynyard Place will provide premium grade facilities and amenities and enable us to create the kind of workplace needed to take Allianz into the future.”
The centrepiece of the Wynyard Place precinct is 10 Carrington Street, a 27-level premium grade commercial office tower with a total net lettable area of approximately 59,000 sqm, (635,000 sqf) offering best in class facilities, amenities and finishes. The development also includes restoration of Shell House and 285 George Street, and will deliver 6,000 square metres (64,000 square feet) of high-end retail, food and beverage and a revitalised Wynyard Lane.
The development includes a major upgrade to Wynyard Station’s George Street entrance and will benefit from the new pedestrianised section of George Street and connect to a new transit hall and public concourse.
Head of Development, Brookfield Properties Australia, Carl Schibrowski said “Wynyard Place is a state-of- the-art office property attracting innovative organisations who wish to provide expansive, agile workspaces and diverse retail options for staff. As an existing tenant of Brookfield in Perth, we are delighted to welcome Allianz to Wynyard Place”.
With the addition of Allianz, 10 Carrington Street is approximately 62% pre-committed, two years ahead of practical completion. Brookfield is in active discussions with a number of other tenants for the remaining premium office space.
Anchor tenant, National Australia Bank (NAB) will occupy 31,000 square metres (333,681 square feet) of space across 10 Carrington and Shell House. The integration of these two buildings will create campus-like floor plates of 3,220 square metres (35,000 square feet) representing some of the largest in the Sydney CBD.
The development has achieved a coveted 6 Star Green Star – Office Design v3 rating and is targeting a 5.5 Star NABERS Energy rating.
ABOUT WYNYARD PLACE
Brookfield’s development of Wynyard Place is transforming Wynyard into a world-class urban precinct in the heart of Sydney’s CBD.
The project’s centrepiece is a 27-level premium grade commercial tower with a total net leasable area of approximately 59,000 sqm, offering best in class facilities, amenities and finishes, to set a new standard in workplace design. The development will also include the restoration of Shell House and 285 George Street, breathing new life into an historic Sydney landmark. In addition, the project will deliver 6,000 sqm of high end retail, a revitalised Wynyard Lane and a major upgrade to Wynyard Station’s George Street entrance connecting to a grand transit hall and public concourse.
Brookfield Property Partners is one of the world’s premier commercial real estate companies, with approximately $69 billion in total assets. We are leading owners, operators and investors in commercial real estate, with a diversified portfolio of premier office and retail assets, as well as interests in multifamily, triple net lease, industrial, hospitality, self-storage, student housing and manufactured housing assets. Brookfield Property Partners is listed on the Nasdaq stock market and the Toronto stock exchange. Further information is available at bpy.brookfield.com
Brookfield has established placemaking developments in cities around the world that are major, vibrant mixed-use complexes that combine modern office space, luxury residences, innovative retail and dining amenities, and active public spaces, with high-end design and the most advanced sustainability practices. Wynyard Place will join Brookfield’s other placemaking developments globally, including Brookfield Place New York in Lower Manhattan, Brookfield Place Toronto, Brookfield Place Perth, Canary Wharf in London and the soon to be completed Brookfield Place Calgary. Other placemaking complexes in development are Manhattan West in New York, Potsdamer Platz in Berlin, ICD Brookfield Place in Dubai and the Allen Center in Houston.
Brookfield Property Partners is the flagship listed real estate company of Brookfield Asset Management, a leading global alternative asset manager with over $285 billion in assets under management.
Matthew Chandler, Brookfield Properties
Tel: +61 2 9158 5111 or +61 456 404 266
Tel: 212 417 7488 or 917 209 743 Email: firstname.lastname@example.org
Forward Looking Statements
This announcement may contain forward-looking statements, including statements about the development of Wynyard Place, anticipated benefits of the proposed development and other matters that are not historical facts. You can identify these forward-looking statements by the use of words such as “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “targets,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. Brookfield does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.