International trading firm IMC Financial Markets have secured 5,740 square metres of premium office space at Sydney’s landmark Quay Quarter Tower (QQT) at 50 Bridge Street – leaving less than five per cent of QQT available for lease.
IMC has committed to an eight-year term across levels 40 through 42 plus space on level 16 and will return to the Bridge Street address it previously occupied prior to the building’s redevelopment.
AMP Capital uniquely transformed an existing 45-year-old 45,000 square metre office building into an 89,000 square metre world-class, highly sustainable commercial tower and catalyst for the revitalisation of the harbour front at Circular Quay.
Quay Quarter Tower is jointly owned by AMP Capital Wholesale Office Fund, Dexus Wholesale Property Fund and Rest Super.
Kit Georgeos, Fund Manager, AMP Capital Wholesale Office Fund (AWOF) said Quay Quarter Tower set a new standard for premium-grade office space.
“We are pleased to welcome IMC back to 50 Bridge Street, and while it is the same location, we are sure their people will appreciate their new world-class accommodation.
“Quay Quarter Tower is a transformational building within a broader precinct undergoing a complete revitalisation. More than $6 billion has been invested so far in a range of projects across Circular Quay to rejuvenate the precinct and there is more to come.”
Michael Sheffield, Fund Manager of Dexus Wholesale Property Fund (DWPF) said QQT would deliver a landmark for Sydney office buildings.
“DWPF is pleased to be part of the development which has attracted high-calibre businesses. With unmatched views, sustainability credentials and an iconic location, Quay Quarter Tower will set its mark for years to come.”
Commenting on the new lease, IMC Managing Director APAC Peter Gavaghan said “We look forward to returning to 50 Bridge Street, where it all started for IMC. Our culture separates us from our competitors and with a focus on employee experience, we will be actively seeking their involvement in the design process to create an environment that fosters creativity and collaboration while fulfilling their vision of what the ideal workplace looks like.”
Quay Quarter Tower forms part of Quay Quarter Sydney – an 11,000 square metre precinct spanning two city blocks which incorporates the 26-level commercial office tower at 33 Alfred Street and Quay Quarter Lanes, a mixed-use residential, commercial and retail laneway network featuring 104 apartments and two levels of retail across three separate new buildings, and the refurbishment of heritage wool stores, Hinchcliff House and the Gallipoli Memorial Club.
Designed by leading Danish architects 3XN in consultation with Australian architectural firm BVN, the building’s striking design comprises five shifting glass volumes stacked upon each other and punctuated by atrium space, delivering expansive views of Sydney Harbour while maximising natural light deep into the floorplates.
Quay Quarter Tower has strong sustainability credentials, including a 6 Star Green Star Office Design v3 rating from the Green Building Council of Australia for its innovative environmental features and vertical village design, which optimises the existing building’s embodied energy and resources. Environmental ratings targets include a 5.5 Star NABERS Office Energy Rating Base Building, 4 Star NABERS Office Water Rating Base Building and WELL certification.
IMC will join Deloitte, Corrs Chambers Westgarth, AMP, EQT, Johnson Winter & Slattery and co-working space manager The Work Project at the landmark tower.
About AMP Capital Real Estate
AMP Capital is one of the largest direct real estate fund managers in the Asia-Pacific[1] with more than $23 billion[2] in assets under management on behalf of institutional and retail investors across the globe. We are also one of the most experienced, with our heritage in real estate investment, management and development spanning over 60 years and many investment cycles, starting with Australia's first skyscraper which opened in 1962. AMP Capital's extensive global network and integrated management model allows its multidisciplinary team of real estate professionals to realise true value for clients through the investment management, property management and development of a portfolio of some of the most iconic shopping centres, office buildings and industrial estates across Australia and New Zealand. AMP Capital Real Estate has recently been recognised as a leader in sustainability with a number of our real estate funds being awarded five-star ratings with global ESG benchmark for Real Assets – GRESB, which places them in the top 20% of funds globally.
In April 2022, AMP Limited announced that the AMP Capital/Collimate Capital real estate and domestic infrastructure equity business would be sold to Dexus Funds Management Ltd (Dexus), a leading Australian real estate and asset management group.
About Dexus
Dexus is one of Australia’s leading real estate groups, proudly managing a high-quality Australian property portfolio valued at $45.3 billion. We believe that the strength and quality of our relationships will always be central to our success and are deeply committed to working with our customers to provide spaces that engage and inspire. We invest only in Australia, and directly own $18.3 billion of office and industrial properties. We manage a further $27.0 billion of office, retail, industrial and healthcare properties for third party clients. The group’s $17.8 billion development pipeline provides the opportunity to grow both portfolios and enhance future returns. Sustainability is integrated across our business, and our sustainability approach is the lens we use to manage emerging ESG risks and opportunities for all our stakeholders. Dexus is a Top 50 entity by market capitalisation listed on the Australian Securities Exchange (trading code: DXS) and is supported by more than 30,000 investors from 23 countries. With over 35 years of expertise in property investment, funds management, and asset management and development, we have a proven track record in capital and risk management and delivering superior risk-adjusted returns for investors. dexus.com
[1] Source: ANREV/INREV/NCREIF Fund Manager Survey 2021
[2] As at 30 June 2021. This includes AMP Capital’s 24.9 per cent share of PCCP’s NAV, equivalent to A$1.8b
