Keppel REIT’s 8 Chifley Square in Sydney is over 56% pre-committed
Keppel REIT Management Limited (Keppel REIT Management), as Manager of Keppel REIT, is pleased to announce that its jointly-owned property with Mirvac Group (Mirvac) in Sydney, 8 Chifley Square, has signed on a new tenant, QBE Insurance Group, one of the world's top 20 general insurance and reinsurance companies. This brings the total pre-commitment at 8 Chifley Square to more than 56%, the Company press release said.
Under the 10-year lease agreement, QBE will occupy approximately 30,000 sf of prime office space on the top four levels of 8 Chifley Square. QBE joins leading law firm, Corrs Chambers Westgarth, which has also made 8 Chifley Square its preferred business address.
Ms Ng Hsueh Ling, CEO of Keppel REIT Management, said, "The strategically-located 8 Chifley Square continues to attract good leasing interest from well-established corporate tenants. We are happy to add QBE to our portfolio of blue-chip tenants. QBE's long lease term of ten years will lengthen Keppel REIT's portfolio weighted average lease term."
Mr Andrew Butler, Mirvac's CEO Investment, said, "We are delighted to welcome QBE to 8 Chifley Square.
Our ability to develop premium grade commercial buildings of this calibre has led to this new lease and demonstrates the appeal of 8 Chifley Square for tenants considering high quality, sustainable accommodation with adaptive workplace platforms."
8 Chifley Square is a 34-storey premium grade office building located at the junction of Phillip Street,
Hunter Street and Elizabeth Street in the heart of Sydney's CBD. The tower will comprise approximately 206,000 sf of net lettable area.
The joint owners, Keppel REIT and Mirvac, are committed to deliver exceptional environmental performance and sustainable operations, including a targeted 5-Star NABERS (National Australian Built Environment Rating System) rating for the completed development. In March 2012, 8 Chifley Square was awarded a 6 Star Green Star - Design Office v2 certified rating by the Green Building Council of Australia.
Designed by Rogers Stirk Harbour + Partners and Lippmann Partnership, 8 Chifley Square features a "village" concept where tenants can lease one to three floors of contiguous office spaces which are interconnected and which improve interactivity between its occupants. The building also features a unique five-storey high forecourt space that offers a grand entrance and enlivens the Chifley Square precinct.
About Keppel REIT
Keppel REIT is one of the largest real estate investment trusts (REITs) listed on the Singapore Exchange Securities Trading Limited.As at 31 December 2012, Keppel REIT has an asset size of $6.5 billion comprising eight premium commercial assets strategically located in the central business districts of Singapore, and key cities of Sydney and Brisbane in Australia. Keppel REIT is sponsored by Keppel Land Limited, one of Asia's leading property developers, and managed by Keppel REIT Management Limited, a wholly-owned subsidiary of Keppel Land.
