Investa signs global law firm and eyes new skyscraper

Investa signs global law firm and eyes new skyscraper

15 July 2018

Global law firm Norton Rose Fulbright have officially signed leases for Investa’s flagship development, 60 Martin Place, Sydney this week. Leases were executed between Investa Commercial Property Fund (‘ICPF’) and Gwynvill Group (‘Gwynvill’). The law firm will relocate from current premises at 44 Martin Place and 225 George Street (Grosvenor Place), to 9,527m2 in the low rise of the Premium grade office tower, which is located in a prominent position on the corner of Martin Place, Phillip Street and Macquarie Street, Sydney.

Designed by leading architects HASSELL, the 33-level Premium Grade tower provides uninterrupted views of the Opera House, Botanical Gardens and Sydney Harbour and is in close proximity to the Reserve Bank, the Law Courts, Martin Place station, main arterial roads and entertainment amenities. It will incorporate state of the art end-of-trip-facilities, a concierge service, cafes and outdoor terraces, with the base building targeting a minimum 6-Star Green Star Office and a 5-Star NABERS Energy rating.

60 Martin Place will also feature leading edge technology solutions including an integrated service platform and adaptive lighting controls, which will support workplace flexibility and optimise the occupant experience.

Group Executive at Investa, Michael Cook, attributes the building’s tailored, distinctive design, intelligent infrastructure and close proximity to the law courts as a driving factor in the process.

“We are developing a building that is almost bespoke to the needs of the modern law firm, with large, customisable floor plates and panoramic harbour and city views.

The timeless, elegant design, coupled with Investa and Gwynvill’s shared long term vision for the asset, should provide Norton Rose Fulbright and other potential tenants with a measure of certainty, that they too can plan their long term future in the asset,” said Mr Cook.

To help the law firm achieve its vision of creating a workplace environment that fosters collaboration and innovative thinking, the tenancy incorporates a 750m2 landscaped, outdoor terrace space on Level 4.

Managing Partner of Norton Rose Fulbright in Australia, Wayne Spanner said: “Office design is an important contributor to business culture and our new premises will nurture the open, innovative and client-centric culture we want to create. We’re really looking forward to engaging our people in an environment that motivates them and provides opportunities for clients to interact with us in a modern, high-tech, and accessible way.”

ICPF Fund Manager, Jason Leong said: ‘We are delighted that Norton Rose Fulbright will be moving to 60 Martin Place to accommodate its new Sydney headquarters, and we look forward to building on our relationship over the long term. The interest by a dynamic global law firm underpins the quality of our new premium office tower in the centre of Sydney’s legal and financial business district.”

The newly merged global law firm Norton Rose Fulbright and local entity Henry Davis York, will bring together about 160 partners, plus all lawyers and staff.

60 Martin Place is scheduled to complete in late-2019. Simon Crouch and Joe Ward of Colliers International advised the law firm.

Investa is also actively acquiring new development sites, reports The Australian. The group’s unlisted arm this week, was tying up the $153 million purchase of an office block in Sydney’s Clarence Street as part of a broader play in which it is trying to amalgamate a site for a new skyscraper. Investa is buying the B-grade tower at 117 Clarence Street from Singaporean groups Roxy Pacific and Tong Eng Group in a deal being brokered by Savills and Inc Re. The deal will show a healthy uplift for the pair that bought the tower for $81m in 2015, but Investa wants the site for future development.