Prime Minister Julia Gillard seems set for new Sydney office digs
Prime Minister Julia Gillard seems set for new Sydney accommodation. Not Kirribilli House, the picturesque Gothic-style house on the harbour, but rather her Sydney office premises.
The Commonwealth Parliament offices, which house the prime minister and cabinet when they work in Sydney, is contemplating moving into the newly completed Dexus Property-built oval-shaped building at 1 Bligh Street.
Its current premises are Philip Street offices in Charterbridge House, a 14-storey building completed in 1987. The PM has a wood-panelled office dating back to a $250,000 fitout by Bob Hawke in the late 1980s.
The Commonwealth has confirmed it is considering its leasing options.
It ticks all the right boxes for the federal government.
With solar collectors on the roof, black-water recycling in the basement and fresh air in the 135-metre-high atrium, it appeals to the government’s green predilection.
The $670 million tower has been built to be the first high-rise office to win a six-star rating from the Australian Green Building Council.
And there will be a child care centre at ground level. There are bike racks and shower facilities, but only 96 car spaces.
The Labor government would also be supporting its union mates, as the partners with Dexus Property is the trade union backed superannuation fund Cbus Property.
Law firm Clayton Utz, the anchor tenant, committed in 2008 to about half the space.
The Bligh Street office tower has been to have asking rents for the top floors of about $1,100 to $1300, plus outgoings, according to the Australian Financial Review. This is about the second most-expensive office block in Australia.
The Commonwealth is tipped to be seeking about 4,000 square metres of space.
Leasing agents are continuing to negotiate tenants for the top floors.
Its website says 1 Bligh offers whole floors of 1,637 square metres and suites of 320 square metres for lease in high-rise levels 17-28 through Rob Dickins at Savills and Mark Tindale and Grant Jennings at Cadigal Office Leasing.
The architects, the Australian practice Architectus and the German firm Ingenhoven Architects, came together for the design competition in 2006.
They were selected by a jury chaired by architect Graham Jahn.
The project cost $227 million, according to the latest annual results issued today.
It indicated 1 Bligh Street was 55% leased with a further 11% under advanced negotiations.
The $667 million development has been forecast to deliver a fully leased yield on cost of 7%.
Annual results released by Dexus today revealed a net profit after tax of $553 million for the year ended June 30, 2011, an increase of $521.6 million over the previous year.
