New tech tenants reshapes Sydney’s office tower market

Parts of the city are turning into hi-tech zones as technology tenants dramatically reshapes the top end of Sydney’s office tower market.

US group Salesforce anchor the planned $1.5 billion Lendlease tower at Circular Quay. The complex, who has already drawn interest from a unit of the Commonwealth Bank, will probably serve as the new headquarters for Salesforce as it undertakes a rapid expansion.

The company is in talks to shift from Tower Three of the Darling Park complex in Sussex Street and move to take about 25,000 sq m of space in the proposed complex. Alongside the Commonwealth Bank unit that is interested in about 20,000 sq m rise, would kick start the project.

Parts of the Colonial First State Global Asset Management business may move to the Barangaroo South harbourside precinct, while elements of the wealth operation are looking to go to Circular Quay.

The precinct around Central station has drawn software company Atlassian, Martin Place is building up a Silicon Alley that has attracted the likes of LinkedIn and e-commerce behemoth Amazon is headed to a Market Street building by Charter Hall.

Image source: Turf Design Studio

Article source: https://www.realcommercial.com.au/news/sydney-office-market-engulfed-by-new-tech-tenants


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