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3 May 1999
Newington Business Park Nike - Sign up to Newington Business Park
Lend Lease announced today that 40 per cent of No.2 Holker Street , the first stage of the $80 million Newington Business Park development, had been leased to Nike, the international sporting goods manufacturer.
"Nike has entered into an Agreement to Lease for Units 1 to 3 of No.2 Holker Street. Nike's pre-commitment of approximately 3200 square metres represents a pre-lease of over 40% of the total project," said Mr Nicholas Lefebvre, Development Manager.
No.2 Holker Street, designed by Cox Richardson Architects, one of Australia's foremost architectural firms, is a premium quality building offering approximately 7700 square metres of Gross Lettable Area (GLA). The building is scheduled to be completed and available for occupation in July ’99.
Businesses with varying space requirements are catered for with units ranging in size from 770 square metres to 2100 square metres. On average, each unit will comprise 30% office/showroom space and 70% warehouse. Its functional design is characterised by high clearance, column free space and ease of access.
Newington Business Park
Newington Business Park is the most significant business park development to have commenced in the Silverwater area this decade.
The master-planned 9.4 hectare project has initially been divided into four separate lots which combined will potentially accommodate up to 60,000 square metres of lettable area within six to eight separate developments. Land and building packages on freehold lots, ranging from 0.5 to 2 hectares in size, are also available for lease or sale.
Construction is expected to begin on Newington Business Park's second stage in May 1999. The 8,550 square metre building including six to ten separate units will only be available for occupation in March 2001, as it will be utilised by organisers of the 2000 Olympic Games prior to this time.
Only 15km from Sydney's CBD and 8km east of Parramatta, Newington Business Park is close to main transport routes including the M4, Silverwater Road and Victoria Road. Staff using public transport will be well served with regular buses connecting with local train stations and to Homebush Bay Wharf on the Parramatta River.
Set in a spacious parkland environment adjacent to Silverwater, Newington Business Park and its neighbouring residential area will e supported by a neighbourhood retail centre, community and childcare facilities.
The world class sporting facilities including the Olympic Stadium, Aquatic and Athletic Centres along with the new Sydney Showground are conveniently located close by.
Released By: Lend Lease
Contact:
Nicholas Lefebvre, Development Manager
Lend Lease Development
Ph: 029741 0200
Karen Gibb, The Gibb Partnership
Ph: 0417 771 811
Background Information Only
LEND LEASE CORPORATION LIMITED
Lend Lease Corporation is an Australian based international real estate and financial services group which operates in Australia, the Pacific, Asia, Europe and North and South America. The Lend Lease Group has two main operating activities:
Financial Services, incorporating the following segments:
- Funds Management
- Life Insurance and Wealth Protection
Real Estate, incorporating the following segments:
- Real Estate Investments
- Property Development
- Project Management and Construction
- Capital Services (infrastructure)
The Group also manages exposure to Information Technology and Equity Investments.
Increasingly, the group is entering joint ventures with world-wide organisations to increase capabilities and enter new and exciting markets and projects.
Background
Established in 1958, Lend Lease has approx. 4,500 employees and over 37,000 shareholders worldwide, and has a market capitalisation of approximately A$11.1 billion (as at 31 December 1998). Funds under management total A$71.3 billion, with A$46.2 billion in property assets under management on five continents (as at 31 December 1998). Lend Lease’s global property investment management ranks as one of the largest in the world.
After-tax profits of A$363.9 million were reported for year ended June 1998 (and A$206.1 million for the six months ended 31 December 1998), continuing 23 years of unbroken profit growth. Operating revenue for the 12 months ended 30 June 1998 exceeded A$3.4 billion. Lend Lease has a long-term AA credit rating from Standard & Poor’s and an A3 credit rating from Moody’s.media
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