_CBD precinct revitalisation sparking strong interest in the office market
A full floor has become available for lease in Transport House at 99 Macquarie Street in Sydney as the surrounding precinct thrives following years of gentrification.
The 537.6sqm space on level two of the iconic heritage building, which is owned by Mulpha, is being marketed for lease by Al Dunlop and Celia Gore of Knight Frank in conjunction with Joshua Bush of Mulpha Australia.
Major tenants in the building include premium spirits company Diageo and international communications network M&C Saatchi.
Ms Gore said several tenants had expressed interest in the space, which could be used as an office or reconfigured to accommodate a restaurant tenancy, and was in an increasingly desirable part of town.
“This tenancy is in a highly-sought after heritage locale opposite the Botanic Gardens, which has recently become a hive of activity, leading to renewed tenant interest,” she said.
“The CBD precinct surrounding Transport House is undergoing a revitalisation following five to seven years of construction work,
“The north end of Phillip Street, where Transport House has a refurbished second entrance, is now a very attractive place to work having been transformed by the many improvements leading to new amenity including bars, restaurants, gyms and connectivity through laneways.”
Some of the improvements in the precinct surrounding Transport House include a $150 million refurbishment of the neighbouring InterContinental Hotel, which has conference facilities and meetings rooms for hire.
Other significant changes in the area include the recent opening of the Capella Hotel on Loftus Street and the redevelopment of Quay Quarter with its laneways and new food and beverage offerings.
Nearby bars and restaurants now include Bar Messenger, Pont Brasserie, Ippudo Ramen, Grana, Belles Hot Chicken, Lotus Dumplings, This Way Canteen, Besuto and Marrickville Pork Roll.
Mr Bush said in addition to gentrification in the surrounding area of the CBD, Transport House had undergone upgrades, which was attracting tenants.
“We have refurbished the Phillip Street entrance to the building, with a new wine bar called Bar Messenger now accessible through this entrance, as well as completing a new end of trip facility,” he said.
“Meanwhile there is plenty of amenity surrounding the building now including the Aster Bar on the rooftop of the neighbouring InterContinental and the Pont Brasserie within the hotel.
“Transport options are also plentiful, with buses, trains and ferries running regularly nearby.”
An iconic Sydney building, Transport House was designed by HE Budden & Mackey in 1938 to house the Department of Road Transport and Tramways. Conversation works were undertaken in 2009 to preserve and improve the building.
To find out more:
For further information on the property, please contact:
Celia Gore
Associate Director, Office Leasing
Al Dunlop
Partner, Head of Office Leasing, NSW