JP Morgan anchor tenant in Sydney tower

11 Feb

SMH February 8, 2010 AAP

US Banking giant JP Morgan will take up half of an office tower Westfield Group is building at 85 Castlereagh St in Sydney.

JP Morgan will occupy 16,700 square metres of the 25 storey 32,800 square metre office tower, which is a part of the Westfield Sydney City project, centred around Sydney Tower.

“We’re delighted that JP Morgan, one of the world’s leading banks, is establishing its Australian headquarters at our Sydney City project,” Westfield managing director Steven Lowy said in a statement on Monday.

“Their presence will add significant prestige to what will already be a world-class destination.”

JP Morgan’s building will be one of three office blocks in the development.

“This is an exciting development in our firm’s local history which reflects our aggressive growth strategy for the future, the momentum in the franchise and the strength of our brand and client relationships,” JP Morgan chief executive for Australia and New Zealand Rob Priestly said.

The Australian Securities and Investment Commission will anchor one of the other office buildings.

The completed development, which will cost $1.2 billion, will have 171,000 square metres of lettable area for retail, tourism and commercial use.

© 2010 AAP

Source- http://news.smh.com.au/breaking-news-business/jp-morgan-anchor-tenant-in-sydney-tower-20100208-nn1i.html

On the site previously- the Imperial Mall.

PROJECT FACTS
Early works commenced August 2008
Substantial construction commenced January 2009
Project value AU$860M*
 
Westfield Sydney Retail
 
Redeveloped retail area 40,000 m2
Retailers 250 approximately
Retail open Staged openings from 2010 until 2012
New jobs created Over 3,000 construction jobs
 
Commercial Towers
 
Registered for Greenstar Office Design Rating
100 Market Street 30,000+ sq metres over 10 levels
85 Castlereagh Street 33,000+ sq metres over 27 levels

MILESTONES

August 2008 Early works commence.

November 2008
 Imperial Arcade retail closes.

January 2009
 Imperial Arcade & Centrepoint Convention Centre demolition commences.

February 2009
 Retail trading in Centrepoint ends.
Sydney Tower restaurants and attractions remain open for business.

March 2009 Art on construction hoardings installed.

April 2009 100 Market Street commercial tower glass facade installation commences.
Imperial demolition is completed.
 
June 2009
 85 Castlereagh Street commercial tower and new shoppping centre excavation commences.

Late 2009 100 Market St glass façade completed.

Late 2009
 85 Castlereagh Street commercial
tower and new shopping centre excavation is complete.

Mid 2010
 85 Castlereagh Street commercial tower structure commences.**

2010
 100 Market Street commercial tower scheduled occupation.

Late 2010
 Stage 1 of the new Westfield Sydney shopping centre scheduled to open.

2012
 85 Castlereagh Street commercial tower scheduled occupation**

Source- http://westfield.com.au/sydney/construction/construction-project-facts

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