Tenants Begin to Fill New Sydney Office Tower

23 February 2022 | Sydney, Australia

Lendlease’s office development ambitions are poised for a major boost as it has struck a deal with British advertising and communications agency WPP to anchor its planned AU$1.2 billion (US$860 million) tower in North Sydney.

The company won the rights to develop the tower, to be built above Victoria Cross station four years ago and has billed the project as helping to redefine the North Sydney market. The brief for WPP was pursued by developers for years but its office consolidation plans had to await until WPP AUNZ was merged with WPP in May, 2021.

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Victoria Cross Metro Station Tower

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Lendlease Corporation

While the parties declined to comment as the precommitment is at an early stage, it will give Lendlease confidence to push ahead with the tower. It is also targeting other tenants including TPG Telecom, as Vodafone occupies a nearby tower in North Sydney. TPG is believed to be looking at a number of options as developers pitch new buildings for the merged entity to occupy. CBRE and JLL are advising on the leasing.

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