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Retail leases snapped up at Quay Quarter Tower

By AMP Capital

Landmark Sydney building Quay Quarter Tower (QQT) has locked in new food, beverage and services leases across its retail podium ahead of its official late-2022 opening.

Joining QQT is Deli Ziosa, Quay Quarter Pharmacy in addition to Sushi Hon, Nam Nam and Costi’s Seafood, which will all open in the Fourth Quarter of 2022.

Espresso Bar Parla and Fossix Coffee Lounge began trading in the Tower’s lobby levels when AMP and AMP Capital commenced occupying Quay Quarter Tower in April.

Kit Georgeos, Fund Manager, AMP Capital Wholesale Office Fund (AWOF) said, “With 95 per cent of the commercial premises in the Tower leased, we are seeing an upturn in retail commitments as businesses see the opportunities and exceptional quality of Quay Quarter Tower.”

“The precinct has been created to transform and energise the workday experience with world class flexible work-spaces, diverse retail amenity, public art and health and well-being facilities.”

“The retail podium will contribute significantly as more occupants begin to move in over the remainder of 2022.”

Deloitte, Corrs Chambers Westgarth, EQT, Johnson Winter & Slattery, and flexible workspace operator The Work Project have committed to Quay Quarter Tower, with international trading firm IMC Financial Markets also securing 5,740 square metres.

Quay Quarter Tower is jointly owned by AMP Capital Wholesale Office Fund, Dexus Wholesale Property Fund and Rest Super.

Michael Sheffield, Fund Manager of Dexus Wholesale Property Fund (DWPF) said, “QQT continues to demonstrate an exceptional asset for our investors, with the high quality, diverse retail and services amenity enhancing the offer for new and existing customers alike.”

The six levels of visually connected podium amenity is a key difference in QQT because it comprises a two level Market Hall with verandah dining offering Harbour Bridge views, and soft health and lifestyle retail, in addition to ground lobby and upper lobby cafes, an extensive podium garden and two floors of flexible workspace.

“To complement traditional food and beverage, and restaurant tenancies, we see soft fitness and group training gyms, wellbeing and retail services, and a boutique grocer and liquor store as key opportunities within the building,” AMP Capital Senior Development Manager Liann Lim said.

The Tower’s retail offering for tenants and locals alike is complemented by the adjoining lifestyle precinct at Quay Quarter Lanes.

Quay Quarter Sydney is an 11,000 square metre precinct spanning two city blocks which incorporates QQT and Quay Quarter Lanes, a mixed-use residential, commercial and retail laneway network featuring 104 apartments and two levels of retail across three separate new buildings, and the refurbishment of heritage wool stores, Hinchcliff House and the Gallipoli Memorial Club.

Designed by leading Danish architects 3XN supported by their executive architects BVN, QQT’s striking design comprises five shifting glass volumes stacked upon each other and punctuated by atrium space, delivering expansive views of Sydney Harbour while maximising natural light deep into the floorplates.

Quay Quarter Tower is targeting a 6 Star Green Star Design & As Built rating from the Green Building Council of Australia. In addition, other targeted environmental ratings include a 5.5 Star NABERS Office Energy Base Building Rating, a 4 Star NABERS Office Water Rating and a WELL Gold Core and Shell certification.

Media enquiries:

Steve Batten
M: +61 411 080 268
E: steve.batten@ampcapital.com

About AMP Capital Real Estate
AMP Capital is one of the largest direct real estate fund managers in the Asia-Pacific[1] with nearly $22 billion[2] in assets under management on behalf of institutional and retail investors across the globe. We are also one of the most experienced, with our heritage in real estate investment, management and development spanning over 60 years and many investment cycles, starting with Australia's first skyscraper which opened in 1962. AMP Capital's extensive global network and integrated management model allows its multidisciplinary team of real estate professionals to realise true value for clients through the investment management, property management and development of a portfolio of some of the most iconic shopping centres, office buildings and industrial estates across Australia and New Zealand. AMP Capital Real Estate has recently been recognised as a leader in sustainability with a number of our real estate funds being awarded five-star ratings with global ESG benchmark for Real Assets – GRESB, which places them in the top 20% of funds globally.

In April 2022, AMP Limited announced that the AMP Capital/Collimate Capital real estate and domestic infrastructure equity business would be sold to Dexus Funds Management Ltd (Dexus), a leading Australian real estate and asset management group.

About Dexus
Dexus is one of Australia’s leading real estate groups, proudly managing a high-quality Australian property portfolio valued at $45.3 billion. We believe that the strength and quality of our relationships will always be central to our success and are deeply committed to working with our customers to provide spaces that engage and inspire. We invest only in Australia, and directly own $18.3 billion of office and industrial properties. We manage a further $27.0 billion of office, retail, industrial and healthcare properties for third party clients. The group’s $17.8 billion development pipeline provides the opportunity to grow both portfolios and enhance future returns. Sustainability is integrated across our business, and our sustainability approach is the lens we use to manage emerging ESG risks and opportunities for all our stakeholders. Dexus is a Top 50 entity by market capitalisation listed on the Australian Securities Exchange (trading code: DXS) and is supported by more than 30,000 investors from 23 countries. With over 35 years of expertise in property investment, funds management, and asset management and development, we have a proven track record in capital and risk management and delivering superior risk-adjusted returns for investors. dexus.com

About Rest
Rest is one of Australia’s largest profit-to-member superannuation funds with around 1.9 million members and around $68 billion in funds under management as at 31 March 2022. Established in 1988, around 60 per cent of Rest’s members are women, half are younger than 30 years old, and many work in part-time and casual jobs. Rest has around $6 billion invested into unlisted property, including office buildings, retail shopping centres, industrial warehouses and residential apartments, both domestically and offshore (as at 31 March 2022).

 

[1] Source: ANREV/INREV/NCREIF Fund Manager Survey 2021
[2] AUM is provided as at 30 June 2022; invested AUM excluding any uncalled commitments and JV-related AUM

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