WeWork Secures its Largest Office in Sydney

WeWork expands its operations in Sydney with its largest space across 10 floors with self-contained exclusive ground floor entry in 320 Pitt Street. The 11,000 square metres space is the co-working giant’s 10th working hub in the harbour city in just three years, apart from its other offices in Melbourne, Brisbane and Perth. A total amount of $700 million was cashed out to close the 12-year lease deal.

Owned by ARA Australia, 320 Pitt Street offers a well-suited opportunity for companies ranging from start-ups to large enterprises. Patrons will also benefit with the location in close proximity to public transport including the nearby Metro station in Martin Place. This 29 storeys property features well advanced and major upgrade works including an expanded new lobby and End of Trip facilities.

The property is being eyed by various institutions counting tech tenants and traditional banks as co-working industry continues to experience a rapid rate of expansion particularly in Melbourne and Sydney. Office vacancies are noted to be near record lows, boosting rents to near highs.

Article and image source: https://www.commercialrealestate.com.au/news/wework-snaps-up-large-space-in-320-pitt-street-2-861212/?


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