Bloomberg considering move to Sydney's 1 Bligh Street

Bloomberg considering move to Sydney's 1 Bligh Street
Bloomberg considering move to Sydney's 1 Bligh Street

Business information provider Bloomberg is considering moving into the Dexus 1 Bligh Street flagship office tower, according to reports.

Bloomberg currently leases about 1,200 square metres of space on level 36 of the 50-level Gateway Building at Macquarie Place, the wedge-shaped glass tower overlooking Circular Quay.

Both buildings form part of the $13 billion property portfolio managed by Dexus.

According to the Australian Financial Review, Bloomberg is seeking about 2,400 square metres of premium grade space and is currently considering a number of options.

The floor plates in 1 Bligh Street are about 1,600 square metres.

The paper reports that Dexus has a propsal with another tenant that would take the occupancy of six-green star rated 1 Blight Street to 67% by the end of the year. Dexus is targeting occupancy of 80% by June next year.

Dexus lists the current vacancy rate in 1 Bligh Street at 51%, with law form Clayton Utz the major tenant.

In October, Merrill Lynch analyst Simon Garing forecast it would take at least four years to fully lease 1 Bligh Street.

1 Bligh Street has won numerous architectural, design and sustainability awards since being completed earlier this year.

The Commonwealth government also intends to move into the building.

 

Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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