Construction begins at Pacific Highway, North Sydney commercial tower

Construction at the 2,418 square metre site at 177 Pacific Highway in North Sydney has commenced. 

A groundbreaking ceremony was held for the 30 level Leighton Properties development, to be built by Leighton Contractors (artistic impression below). The $413 million, development, with 40,000 square metres of floor space, is set to become the Leighton Group’s new global hub.

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At the ceremony, Leighton Holdings chief executive officer Hamish Tyrwhitt noted the date’s significance for the company.

“This is a great milestone to be celebrating today. For the Leighton Group this is a step towards creating the next generation workspace for our staff - one that fosters collaboration, innovation and performance and is an example of our corporate values,” Tyrwhitt said.

The development will be North Sydney’s first new commercial tower in six years, according to Leighton Properties managing director Mark Gray.

“177 Pacific Highway will add an entirely new dimension to the North Sydney skyline,” he said. “Being the first new ESD rated commercial tower in six years it will provide the market with much-needed A-grade accommodation. It signals an important next step in North Sydney’s continued development as a commercial CBD,” Gray said.

Gray expects that Leighton’s reputation will attract strong demand from commercial tenants.

“We expect the certainty of the completion date, and the commitment and involvement of Leighton, will make this a highly sought-after building for companies wanting to secure a noteworthy address,” said Gray.

10,000 square metres of the building’s top level space is still available for lease, with 76% of the tower’s total space leased by Leighton.

The building was designed by Bates Smart, and is scheduled for completion and occupancy in early 2016. The company is targeting a 5 Green Star and 5 Star NABERS energy rating for the building.

The ground levels of the building will include cafes and retail spaces.

jrichardson@propertyobserver.com.au

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