Coca-Cola Amatil relocates to Investa's "Ark"
Investa Property Group today announced that Coca-Cola Amatil (CCA) has signed an Agreement for Lease for office space in its showcase commercial office development, 'Ark', at Mount Street.
CCA has agreed to a 10 year lease term and will move from the company's current headquarters in Macquarie Street, Sydney to the new landmark building in North Sydney, on its completion in mid-2010.
The project, with an estimated end value of $270 million, is progressing on target for completion in mid-2010 with demolition at the site now complete and excavation underway. Investa has appointed Thiess as the preferred contractor.
Under the tenancy agreement with Investa Commercial Developments (ICD), CCA will occupy 7,620sqm in the lower portion of the high rise of the building.
ICD Group Executive, Richard Johnston said: "The substantial pre-commitment in North Sydney demonstrates that the design and product proposed was conducive to Sydney CBD tenants."
"Our success in securing a tenant so quickly reflects the quality of Ark's design and the importance of green credentials to prospective tenants. It is also indicative of the current state of Sydney's office market. A lack of space for large tenants in the CBD is making North Sydney an attractive alternative," he said.
ICD development manager Rob Thomas said; "We have received significant interest from other tenants wishing to lease space in the building, with 21,000sqm remaining. The large, regular shaped floor plate, up to 2000sqm, with an offset core offers tenants complete design flexibility."
Ark is designed to achieve a 5 star Australian Building Greenhouse Rating (AGBR) and is registered for a 5 star Green Star rating when completed in 2010.
Coca-Cola Amatil recognised the importance of an energy efficient, environmentally friendly office space to both the company and its employees.
"We recognised that providing an inspirational workplace and office space that demonstrates our commitment to the environment is another way for us underline our commitment to environmental sustainability," CCA Director Media & Public Affairs, Sally Loane said.
"We're confident that this building will provide us with the flexibility to cater to our business needs, as we develop over the coming years," Ms Loane said.
Ark is located adjacent to the North Sydney Post Office and in close proximity to the North Sydney Railway Station, which is also currently being upgraded. North Sydney Council is highly supportive of the environmentally friendly development and granted approval in July 2007.
Investa's leasing agents were M2 while CCA was represented by Peter Messenger from CBRE.
For further information, please contact Richard Johnston (02) 8226 9311
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