The new NSW public sector hub in the Sydney CBD is a step closer to reality with the Property NSW signing a lease for the premises with property group Charter Hall.
The lease is for 12 years over the building at 231 Elizabeth Street from mid 2020 with two five-year extension options.
According to Property NSW, the new hub will bring together about 1,900 public sector workers from a number of existing locations across the Sydney CBD, providing opportunities for cross-agency collaboration and the adoption of modern, flexible working practices.
Chief Executive Officer at Property NSW, Brett Newman, said Charter Hall would deliver around 21,700 square metres of office space in the refurbished A-grade building as the Public Service continues to consolidate its Sydney CBD office footprint to create greater cost efficiencies.
“The Government is committed to providing world-class, flexible office hubs that will enable workers to deliver quality services for the people of NSW,” Mr Newman said.
“Under the Decade of Decentralisation policy, we are moving jobs closer to where people live across metropolitan Sydney,” he said.
“This also allows us to reduce and consolidate the Government’s leased office space in the Sydney CBD to accommodate agencies that need an ongoing CBD presence for service delivery.”
Mr Newman said the new hub would include a dedicated, whole-of-Government flexible space for PS workers who need to work in the CBD on a casual basis.
He said the refurbishment was predicted to deliver 160 full-time construction jobs and a $260 million stimulus to the broader economy.
The workspace will feature modern end-of-trip facilities, a minimum 5 Star NABERS Energy and 4 Star NABERS Water building rating when the building refurbishment has been completed, he said.
Elizabeth Street is the Government’s first Sydney CBD location under its new hubs strategy.
It follows previous significant commitments to new office accommodation in Western Sydney, including the recently announced 43,800 square metres office pre-commitment at 6 Parramatta Square and a multi-agency hub at 4 Parramatta Square, due for completion by November.
The selection of Charter Hall to deliver the southern Sydney CBD hub followed an Expressions of Interest process and subsequent detailed tender phase.
