Mirvac's 101 Miller Street office tower has three new tenants

Three new tenants, including Property NSW, are moving into Mirvac's office tower at 101 Miller Street in North Sydney.

The new tenants -- Property NSW, Bedford CA and Access Innovation Media --  will in total occupy more than 4,700 sqm, bringing the premium grade office building to 83 per cent leased, Mirvac and joint owner and TH Real Estate said in a media release.

Property NSW has leased over 2,800 sqm on levels 21 and 22, for a five-year term, as it expands to accommodate more employees.

Bedford CA has leased over 1,428 sqm on level 16 for a seven-year term while Access Innovation Media will occupy 487 sqm on level one for a five-year term.

Mirvac’s general manager of Leasing and Agency Services, Paul Bezzina, said the commercial property market in North Sydney offered an exceptional working environment and access to retail facilities, hospitality and transport. 

“Located in the heart of North Sydney, 101 Miller Street is not only in close proximity to a variety of food and retail options, the office features fresh workspaces with refurbished ceilings, carpets and bathrooms,” said Bezzina.

Commenting on the leasing activity, TH Real Estate’s head of asset management, Australia, Jayson Egan, said the tenant demand in North Sydney remained strong. 

“With the low vacancy in the Sydney CBD, tenants are increasingly seeking alternative locations like North Sydney, which are more affordable and provide an outstanding work environment. We expect this trend to continue throughout the year,” Egan said. 

Mirvac is currently upgrading the office floors, the foyer and end-of-trip facilities which are expected to be completed later this year.

TH Real Estate is an investment affiliate of Nuveen (the investment management arm of TIAA), is one of the largest real estate investment managers in the world with about $99 billion in assets under management.

Recently, the Grand Pavilion Penthouse at the Mirvac-built Eastbourne project overlooking Fitzroy Gardens sold for close to $14 million.