Sydney CBD SKyline
Image: Belle Co, Pexels
  • Law firm Corrs Chambers Westgarth joins tenants such as Deloitte and AMP itself
  • Today’s announcement brings the pre-commitment leasing rate to 85 per cent
  • The Tower is owned by investors from two AMP Capital Funds along with Rest Super
  • The precinct will also feature 8000 sqm of retail space

AMP today announced that Corrs has signed a 15-year term AFL – an ‘Agreement for Lease’ –  that will result in the top tier law firm occupying nearly 10,000 square meters of the 50 Bridge Street development.

This deal marks one of the largest new lease transactions of recent times in Sydney.

The Quay Quarter, which is located at 50 Bridge Street, is on schedule for completion during the second quarter of 2022.

“We have selected what we believe is one of the best buildings in Australia for our Sydney premises. COVID has challenged the notions and expectations of traditional workplaces, and our approach to this building and this space will deliver ongoing flexibility, high-quality technology and sustainability,” says Gavin MacLaren, Corrs Senior Partner and CEO.

“The space at QQT will serve our needs well for the next 15 years as we continue to focus on our people, our clients and our continued growth and development.”

Kylie O’Connor, AMP’s Capital Head of Real Estate, believes the success of the significant pre-leasing rate for the Tower is a testament to AMP’s commitment to outcomes for investors and customers alike.

“We are thrilled to be welcoming Corrs, who have a reputation of choosing transformational workplaces for their national office footprint that are centred around their people and clients,” Ms O’Connor said.

“To achieve pre-commitment of over 85 per cent more than a year ahead of completion – particularly given the challenges of COVID, is an outstanding result for our team, who continue to demonstrate an unwavering commitment to deliver for our clients and customers.”

The Tower has over an acre of green space and a landscaped podium garden. The precinct will feature over 8000sqm of retail space which is due to open later this year.

 

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