Ashurst signs anchor lease for new dig at Martin Place

Global law firm Ashurst has signed a major lease to become the anchor tenant of the new 39 Martin Place office tower owned by Investa and Manulife Investment Management as part of the Sydney Metro’s Martin Place Integrated Station development.

It is one of two office buildings being developed by Macquarie and built by Lendlease. The lease is a significant deal for the new tower designed by Sydney architect Alec Tzannes.

Ashurst will occupy up to 10,000 square meters in the low-rise building, which will feature high-quality sustainability features such as: B. 100 percent power supply from renewable energy sources.

The premium tower is scheduled for completion in 2024 and will include 30,000 square meters of office space on 28 levels and 2,000 square meters of retail space. It will have direct access to the Martin Place underground station, which is due to be completed shortly, and will also connect to the existing Eastern Suburbs railway line.

Brendan Looby, fund manager of Investa Commercial Property Fund, said the building has a dramatic street presence and pays homage to its heritage near its neighbors, including the Macquarie Group’s global headquarters across the street at 50 Martin Place.

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“Interest in the building has been strong, with tenant requests ranging from 400 to 4,000 square feet on the remaining 20,000 square feet available,” Looby said.

“In addition to its excellent sustainability credentials, Investa has worked with Macquarie and its construction partner Lendlease to make the building one of the first all-electric new office towers in Sydney’s CBD.”

Kiki Lai, Managing Director, Real Estate Portfolio Management, Asia, at Manulife Investment Management, said the development will “change the traditional role of an office building”.