AMP Capital today announced that Bank of Queensland Group (BOQ) has signed a lease for nearly 5,800 square metres over a 10-year term at landmark office building 255 George Street in Sydney.
Currently spread across two buildings in the Sydney CBD, this lease brings Bank of Queensland and Virgin Money Australia together under one roof for the first time.
AMP Capital Head of Real Estate Kylie O’Connor said: “We are delighted to be welcoming BOQ later this year to their new Sydney head office at 255 George Street. Alongside the 10,000 sqm recently signed by Corrs Chamber Westgarth at nearby Quay Quarter Tower, this deal indicates confidence in prime office space in the Sydney CBD and the importance of workplace accommodation for collaboration.
“Together, these leases provide a strong base for deals moving forward and are testament to the team’s commitment to delivering sustainable outcomes for investors and providing customer centric environments for businesses to thrive,” Ms O’Connor said.
BOQ Group’s Chief Financial Officer and Chief Operating Officer, Mr Ewen Stafford, said the move is part of the company’s ongoing growth and transformation agenda.
“In selecting the right space to bring our multi-brand teams together in the one location, we wanted a building that provided a market-leading level of amenities to our people.
“As more of our people return to the workplace, and with the pandemic changing the way we do business, we’re looking forward to collaborating in new ways and our future home at 255 George Street will purposefully serve our future workplace needs and allow us to prosper.
“The building’s leading sustainability credentials including a 5.5 Star NABERS rating, alongside cuttingedge technology, were also key factors in our decision to choose 255 George Street as our new Sydney home,” Mr Stafford said.
Owned by investors in the AMP Capital Wholesale Office Fund (AWOF), 255 George Street is undergoing a re-development including an architecturally reimagined lobby with a selection of work zones available to support flexibility as well as new end-of-trip facilities and wellness studio.
In the current environment, this lease demonstrates the appeal of quality commercial real estate and the enduring importance of the workplace for businesses.
BOQ has also secured signage rights for 255 George Street.
While every care has been taken in the preparation of this document, AMP Capital Investors Limited (ABN 59 001 777 591, AFSL 232497) makes no representation or warranty as to the accuracy or completeness of any statement in it including, without limitation, any forecasts. Past performance is not a reliable indicator of future performance. Neither AMP Capital nor any company in the AMP Group guarantees the repayment of capital or the performance of any product or any particular rate of return referred to in this document This document has been prepared for the purpose of providing general information, without taking account of any particular investor’s objectives, financial situation or needs. An investor should, before making any investment decisions, consider the appropriateness of the information in this document, and seek professional advice, having regard to the investor’s objectives, financial situation and needs. This document is not intended to be and does not constitute financial advice nor a recommendation to subscribe for or purchase any investment by any person in any jurisdiction nor does it constitute an offer, solicitation or invitation to subscribe or purchase any investment in any jurisdiction where it would be contrary to the laws, regulations or directives in force or applicable in such jurisdiction.