The new Sydney headquarters of lending fintech giant Afterpay has hit the market ahead of its completion, which is expected later this year.
Investment firm IP Generation has listed heritage office space The Brewery in Chippendale, with a price guide of $140 million, with agents at Cushman & Wakefield and JLL.
The iconic building, home to Carlton and United Breweries until 2005, has been transformed from a former industrial site into a shining example of a sustainable commercial office, with environmental considerations at the forefront of the design.
Designed by architecture firm Tzannes, the adaptive reuse project has won multiple awards, including a UNESCO award for New Design In Heritage Contexts Cultural Heritage Conservation.
Afterpay, the Australian buy now, pay later start-up founded in 214 by Nick Molnar and Anthony Eisen, will be the anchor tenant at 5 Central Park Avenue site when works are completed midway through this year.
The fintech giant will occupy 66 per cent of the 5791-square-metre net leasable area, with MIQ Digital also leasing space. The building offers a 5.2-year weighted average lease expiry, with plans for two hospitality and dining options from a leading Sydney hospitality group also in the works.
The building, opposite University of Technology Sydney, fuses modern technology with heritage character. The energy-efficient design targets 5-Star Green Star and 5-Star NABERS ratings. It is part of the $2 billion master-plan precinct crafted by Frasers Property and Sekisui House.
Selling agent Leigh Melbourne of Cushman & Wakefield says properties like The Brewery rarely come to market.
“With commitments from both private and public sectors, including Atlassian and Dexus/Frasers Property’s Central Place, the stage is set for exponential growth,” he says.
“The NSW government’s ambitious plans to facilitate 250,000 square metres of office space and create 25,000 new jobs by 2036 only add to the allure of this prime investment opportunity.”
JLL’s Luke Billiau says Chippendale appeals to businesses looking to access top-tier talent near the Sydney CBD.
“Chippendale’s transformation into a global technology and innovation hub seems inevitable, further bolstering the attractiveness of The Brewery as an investment destination, which has been resilient through even challenging cycles.”
The 100 per cent Freehold Stratum Title interest is for sale by expressions of interest.