Business

South Sydney office market transforms to green tech office precinct


Neighbouring precinct Green Square additionally affords an array of facilities, together with parks and open areas, Green Square Library and plaza, cultural and neighborhood precincts and the Gunyama Park Aquatic and Recreation Centre.

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“There is significant demand from clean tech businesses to create a hub in the immediate precinct, and some of the biggest developers in both Australia and abroad have answered the call,” Solomons mentioned.

Stanton Hillier Parker’s managing director Evgenikos and senior associate Kruyer mentioned 5B represents the emergence of Mascot as a know-how and innovation hub, and that dynamic firms are shifting deeper into south Sydney.

“Other key benefits of this asset represent an investment in environmental, social and governance (ESG) behind 5B, potential of rental growth, depreciation benefits, and the ability to add 21 per cent of building area from an approved additional level,” Evgenikos mentioned.

LOGOS and the nation’s largest tremendous fund, AustralianSuper, are additionally plans for the Qantas buildings at Mascot, which they purchased for $802 million in October final yr.

Under the plans, a part of the location will probably be leased again to the airline whereas the consumers’ consortium, which additionally consists of the Abu Dhabi Investment Authority, will work with Qantas to have a look at potential improvement choices for the websites, which may embody new inexperienced tech tenants.

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