Frasers, Winten team up for $750m Macquarie Park precinct
Singapore-backed Frasers Property Australia will team with Winten Property Group to kickstart the privately held company’s long-held Macquarie Park office site in Sydney’s northern suburbs.
The pair have proposed a dramatic overhaul of the Winten site with the $750 million development, called Macquarie Exchange, to be built at the entrance to Macquarie Park’s new Metro station that opens next month.
The development will have four hi-tech buildings, ranging from eight to 16 storeys, and be pitched against rival developments by John Holland and Stockland.
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Macquarie Exchange will comprise 74,093sqm of commercial space, 5693sqm of retail, including a childcare centre and gym, and will sport a park.
The Bates Smart-designed hub could accommodate 7000 staff when completed.
Frasers executive general manager commercial and industrial Reini Otter says the area will become a dynamic commercial community.
“Macquarie Exchange will activate the Metro precinct, setting a precedent for work environments outside the CBD,” he says.
Winten development director Stuart Vaughan says Macquarie Park has become one of Sydney’s metropolitan hubs and is undergoing a major gentrification and infrastructure upgrades.
“The area is already a driver of economic growth and employment in NSW and state infrastructure such as the Metro upgrade,” Mr Vaughan said.
The A-grade office building will have interconnecting spaces via the stairs and floors and have floorplate sizes from 1500sq m to more than 2150sqm.
The proposed hub will have a WELL Silver and Core rating, a five-star Green Star rating from the Green Building Council of Australia and a minimum five-star NABERS rating.
Top 100 companies already in the area include Foxtel, Optus, Orix, Brother, Canon, Hyundai, Dupont and Konica Minolta. Other tenants are chasing space.
Jason Wright and Chris Bailey from GJS Property and Denys Bizinger and Francesco Princi from JLL are the leasing agents. MQX 1 is expected to be completed in early 2022.
Winten has already secured a brace of technology tenants for its other major office project, with technology company SAP to shift its local headquarters to the group’s 1 Denison Street office tower in North Sydney.
The 39-storey skyscraper, anchored by Nine Entertainment, will be the tallest building in North Sydney when completed next year. US bank also Citigroup also showed interest in the tower, but instead decided to stay put in its city offices.
However, US giant Microsoft has recently shown interest in the Winten tower as it seeks to move out of its Goodman-owned Macquarie Park premises.
Winten and Microsoft have declined to comment on the state of their negotiations.
This article originally appeared on www.theaustralian.com.au/property.