Dexus today announced King & Wood Mallesons (KWM) has renewed its lease at Governor Phillip Tower, One Farrer Place, Sydney for a further 10 years.
KWM has renewed its existing commitment of 10,500 square metres across seven floors. This extends the building’s WALE to 5.6 years, with the building’s occupancy remaining at 98.4%.
Dexus Executive General Manager Office, Andy Collins said: “After 30 years, One Farrer Place remains one of Australia’s most sought after buildings and we are delighted that KWM, who were one of our original customers, has elected to extend their relationship with us well into the next decade.”
KWM Australia Chief Executive Officer, Renae Lattey said: “Governor Phillip Tower is an iconic Sydney building and we are pleased to continue our longstanding relationship with Dexus. We look forward to refreshing our premises next year with a new fitout in line with our new ways of working to create a dynamic and welcoming space for our people and clients to connect when they are in the office.”
Lendlease’s Australian Prime Property Fund Commercial Fund Manager, Micah Schulz said: “This leasing renewal shows the continued demand for quality office in core CBD locations. These are places that help our tenant partners attract and retain the best talent and One Farrer Place is a great example of a high functioning workplace that offers quality amenity, views and strong transport links. It’s also adaptable to shifting customer demands over time.”
One Farrer Place is a Premium Grade office building co-owned by Dexus and Lendlease’s Australian Prime Property Fund Commercial spanning 85,000 square metres. Recent enhancements to the building include lift upgrades, new end of trip facilities and a transformation of Raphael Place, the building’s premium dining precinct.