Ashurst inks anchor lease at new Martin Place digs

Global law firm Ashurst has inked a key lease deal to be the anchor tenant at the new 39 Martin place office skyscraper owned by Investa and Manulife Investment Management as part of Sydney Metro’s Martin Place Integrated Station Development.

It is one of two office buildings being developed by Macquarie and constructed by Lendlease. The lease is a significant deal for the new tower designed by Sydney architect Alec Tzannes.

Ashurst will occupy up to 10,000 square metres in the low rise of the building, which will boast high-standard sustainability features such as being 100 per cent powered by renewable energy sources.

The premium tower is expected to be completed in 2024 and will incorporate 30,000 square metres of office space across 28 levels, as well as 2000 square metres of retail. It will have direct access to the soon-to-be completed Martin Place metro station, which will also connect with the existing Eastern Suburbs’ railway line.

Investa Commercial Property Fund’s fund manager Brendan Looby said the building features a dramatic street presence and pays homage to its heritage near-neighbours, including Macquarie Group’s global headquarters opposite at 50 Martin Place.

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“Interest in the building has been strong, with tenant enquiry ranging from 400 to 4000 square metres on the remaining available 20,000 square metres,” Looby said.

“In addition to its outstanding sustainability credentials, Investa has worked with Macquarie and its construction partner, Lendlease to make the building one of the first all electric new office towers in Sydney’s CBD.”

Kiki Lai, managing Director, Real Estate Portfolio Management, Asia, at Manulife Investment Management, said the development will “transform the traditional role of an office building”.