Friday, August 5, 2016

SuntecReit - Great News!

Singapore, 4 August 2016 – ARA Trust Management (Suntec) Limited, the manager of Suntec Real Estate Investment Trust (“Suntec REIT”, and the “Manager”), is pleased to announce that it has received practical completion for 177 Pacific Highway, the iconic, A-grade state-of-the-art commercial tower in North Sydney on 1 August 2016.  
In addition to CIMIC Group Limited (“CIMIC”) (previously Leighton Holdings), it has also secured Vodafone Group Plc, Jacobs Engineering Group Inc, Pepper Group Limited, Cisco Systems, Objective Corporation Limited and CBRE as tenants.  
Mr. Yeo See Kiat, Chief Executive Officer of the Manager, said, “We are pleased that with these new commitments, our property is now 100% leased and the WALE is 9.25 years.” 
Vodafone Group Plc, Jacobs Engineering Group Inc, Cisco Systems and Objective Corporation Limited will join CIMIC to relocate its Australian headquarters to the newest landmark building in North Sydney. In particular, Vodafone would be occupying over 100,000 sq ft at 177 Pacific Highway, representing the biggest leasing transaction in North Sydney this year. 
Mr. Yeo added, “We are also pleased that some of Australia’s leading technology, financial services and property firms will call 177 Pacific Highway home and we look forward to welcoming over 3,000 employees to their new workplace in the coming months.” 
177 Pacific Highway is located in one of the most prominent sites in North Sydney Central Business District at the junction of Pacific Highway and Berry Street. It was recently awarded a 5 Star Green Star – Office Design v3 Certified Rating. The landmark building is designed by award-winning architecture firm Bates Smart and boasts state-of-the-art design and harbour views. 

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