$750m Macquarie Exchange office development given green light

$750m Macquarie Exchange office development given green light

NEWS BY BEN WILMOT | 22 JANUARY 2020

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Building is anticipated to commence in the third quarter of 2020 for Macquarie Exchange in Macquarie Park.

Building is anticipated to commence in the third quarter of 2020 for Macquarie Exchange in Macquarie Park.

Healthy demand for office space in suburban Sydney is prompting a series of new projects with Singapore-backed Frasers and the private Winten Property Group winning the deal of approval for a $750 million development.

The pair are the latest to forge into the area with companies including Stockland, Dexus and the Goodman Group already sporting a major presence, and more players are getting into the area.

Their bullish approach is likely to pay off with more companies seeking to rent a space in the technology, education and commercial hub building up on the back of improved rail and road connections.

Frasers and Winten say they have received development approval for what they dubbed Australia’s first community business district, the $750 million Macquarie Exchange.

The complex, located at the entrance to Macquarie Park’s new Sydney Metro station, will be on a 15,620sqm site into 83,368sqm of gross floor area across four buildings, of between 17 and nine storeys.

Frasers Property Industrial general manager northern region, Ian Barter, says Macquarie Exchange will provide a much-needed revitalisation of Macquarie Park.

“The community business district would deliver a viable alternative to city locations, with seamless connections via the Sydney Metro Macquarie Park station,” he says.

Macquarie Exchange is approved to comprise 74,093sqm of commercial space, 5693sqm of retail including a proposed childcare centre and gym and a central park with more than 2200sqm of green space.

On completion, more than 7000 employees will work in the urban hub designed by architects Bates Smart.

The urban commercial park will provide carbon neutral energy to all buildings within the park. It is also designed to achieve a WELL Silver and Core rating, 5-Star Green Star rating from the Green Building Council of Australia and a minimum 5-Star NABERS rating.

Building is anticipated to commence in the third quarter of 2020.

This article originally appeared on www.theaustralian.com.au/property.

SOURCE: https://www.realcommercial.com.au/news/750m-macquarie-exchange-office-development-given-green-light