SYDNEY, 7 December 2016 – Brookfield Property Partners L. P. (“Brookfield”) (NYSE: BPY; TSX: BPY.UN), on behalf of its institutional partners, has finalised a 12-year lease agreement from mid- 2020 with one of Australia’s largest financial institutions, National Australia Bank (NAB), to occupy 31,000 square metres (333,681 square feet) at Wynyard Place Sydney.
Brookfield’s development is transforming Wynyard into a world-class urban precinct in the heart of Sydney’s CBD.
The commercial tower at 10 Carrington will have 59,000 square metres (635,070 square feet) of Premium-Grade office space with best-in-class facilities, amenities and finishes. This new standard in workplace design offers major commercial tenants forward-focused office accommodation in the heart of Sydney’s central business district. The tower maximises natural light access and provides efficient floor plates of up to 2,500 square metres (27,000 square feet) which are easily adaptable to suit the needs of diverse businesses and working styles.
The development also includes restoration of Shell House and 285 George Street and will deliver 7,000 square metres (75,350 square feet) 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.
Head of Development, Brookfield Property Partners – Australian Office Division, Carl Schibrowski, said: “We look forward to welcoming National Australia Bank to Wynyard Place from mid-2020. As an iconic Australian financial institution, NAB is the perfect fit for Wynyard Place, which will be the premier commercial address in Sydney’s CBD.”
With the integration of Shell House and 10 Carrington, large, campus-like floor plates of 3,220 square metres (35,000 square feet) will be created, representing some of the largest in the Sydney CBD. NAB will occupy levels 1 through to 9.
Around 30,000 square metres of premium office space remains available with floor plates exceeding 2,000 square metres. On Level 27, a large external terrace comprising over 600 square metres remains available for the tenant who secures the highest floors. A meeting and conference facility and a co-working hub will also be created in the precinct.
The development has achieved a coveted 6 Star Green Star- Office Design v3 rating and is targeting a 5.5 Star NABERS Energy rating. Early site works will commence this month and construction is expected to complete in 2020.
The development has been designed to integrate with Sydney’s $2.1 billion light rail project with the transit hall linking with the City of Sydney’s pedestrian walkway and light rail project on George Street.
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 7,000 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 largest commercial real estate companies, with $66 billion in total assets. We are leading owners, operators and investors in commercial property assets, with a diversified portfolio that includes over 149 premier office properties and over 126 best-in-class retail malls around the world. We also hold interests in multifamily, triple net lease, industrial, hospitality, self-storage and student housing assets.
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 listed on the New York and Toronto stock exchanges. Further information is available at bpy.brookfield.com. Brookfield Property Partners is the flagship listed real estate company of Brookfield Asset Management, a leading global alternative asset manager with approximately $250 billion in assets under management.
For more information, please visit our website at www.brookfield.com or contact:
Matthew Chandler, Brookfield Properties
Tel: +61 2 9158 5111 or +61 456 404 266
Brookfield Tel: 212 417 7488 or 917 209 743
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.