Healthcare giant B Braun signs whole-floor lease in Bella Vista office park

The Australian arm of global healthcare provider B Braun has leased the entire 2,709 sqm top floor of Vantage, a five storey office development in the Norwest Business Park in the outer north west Sydney suburb of Bella Vista.

The new lease takes the occupancy rate in Vantage to 50%.

B Braun Australia will pay $339 per square metre net per annum plus GST and is inclusive of 108 car parking spaces.

The deal was negotiated by Peter Beaumont of Norwest Commercial & Industrial Real Estate, in conjunction with Colliers International and Balmoral Partners.

Other large-scale tenants in the building are Caroma Bathrooms and Kitchens, and concrete products company Holcim (Australia).

The five storey office building at 7-9 Irvine Place with a five-star NABERS energy rating, comprises 12,278 square metres of net lettable office space and has one of Sydney’s largest floor plates.

It was developed by commercial property developer Presida and completed in January 2011 and its stand out feature is a 110-metre long, 8-metre high mural in a ‘geometric abstraction’ style, which forms its base facing Old Windsor Road.

Presida has two other developments in the business park - Sky City (30,000 square metre over five storeys) and T1( 25,000 square metres over twin four storey office towers) .

 B Braun Australia will join a number of blue chip tenants in the office park including Woolworths, which has its head office at 1 Woolworths Way along with Actron Air, Resmed, AAMI, Westpac, Capital Finance and Bankwest.

Globally, B Braun employs around 44,000 employees in more than 50 countries with annual turnover of $5.6 billion.

 

B Braun Australia has signed a five year lease renewal options with deal including major signage to Old Windsor Road where an estimated 40,000 vehicles pass every working day.

The company is expected to occupy the premises from late November.

Construction of a new train line linking the office park to Chatswood as part of the North West rail link is due to begin in 2014 and be completed by around 2020.

First-stage approval for the project was granted in October by the NSW state government.

Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

Comments

Be the first one to comment on this article
What would you like to say about this project?