Optus locks in another 12 years at Macquarie Park

The Optus Centre. Source: Stockland.
The Optus Centre. Source: Stockland.

Property developer Stockland and Singapore-listed AIMS APAC REIT have locked in telco giant Optus at its Macquarie Park campus for another 12 years.

Optus, which has been at the purpose-built facility for about 12 years, has agreed to remain in the 84,194sqm campus for 12 years, with the option to extend for up to 10 years.

Stockland will upgrade the facilities in partnership with the telco including delivering end-of-trip facilities and new roads. The company’s chief executive commercial property, Louise Mason, says it will work closely with Optus on the upgrades.

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“This further commitment to Macquarie Park is in line with our strategy to grow our workplace and logistics weighting through a strong focus on upgrading existing properties and development opportunities,” she says.

Stockland is lifting its weightings to Sydney, Melbourne and Brisbane.

Stockland general manager, workplace and logistics, Tony D’Addona, says the long-term commitment from Optus further demonstrates the strength and appeal of the Macquarie Park market that has a vacancy rate of 4.9%.

“Companies continue to seek efficiencies via consolidation of their operations in campus-style workplaces utilising larger floor plates which promote more engaging environments for their employees,” he says.

The Optus Centre is a massive 84,194sqm office campus over six low rise A-grade buildings, with 2100 car parking spaces. The centre sits over 7.6ha.

This article originally appeared on www.theaustralian.com.au/property.