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Dexus North Shore Property Tour

Dexus were out spruiking their achievements this week with an Investor tour of the recently completed 100 Mount Street, North Sydney and a look at the nearby HealthHub precinct in St Leonards.

At 100 Mount Street, Dexus announced that it had secured additional pre-leases taking the total leasing commitment from 84% in December to 95%. To date lease agreements have been reached with NBN Co, Laing O’Rourke, Victory Offices, First Data Resources, Chanel, Nextgen.Net and Glorietta Restaurant and Cafe.

Dexus Head of Office Leasing, Chris Hynes said: “After years of limited supply, 100 Mount kicks off the next wave of quality office accommodation coming online in North Sydney that is appealing to a more diverse range of tenants who see North Sydney as a viable alternative to the Sydney CBD.”

100 Mount is a new 35-level premium office tower spanning approximately 41,500 square metres. The building, which achieved practical completion earlier this year, occupies one of the prime locations in North Sydney on the corner of Mount and Walker Streets, with a third street frontage to Spring Street.

The site has prime retail exposure, excellent natural light, harbour views across to the Sydney CBD and is set to benefit from its proximity to the new North Sydney Metro Station currently under construction.The development is targeting a 5 star Green Star and 5 star NABERS Energy rating, as well as a Shell & Core WELL Gold rating.

Further north in St Leonards, Dexus invited investors to tour the site of the North Shore HealthHub facility, which is being developed by its newly created, Healthcare Wholesale Property Fund.

The project, which is under construction, is due for completion in 202 and comprises 2 buildings with 15,750sqm in NLA. Dexus have secured major leases with Ramsay Heath Care, North Shore Radiology and Genesis Care and is seeking small and large tenants to occupy the remaining suites / floors.

Dexus secured a major equity commitment of $100 million to its Healthcare Wholesale Property Fund (HWPF) from an offshore investor which is subject to FIRB approval.

See presentation document.