Following the success of International House Sydney as Australia’s first engineered timber building, Lendlease were given approval to build Daramu House last month. Now, the market leading developer has announced a partnership with WeWork as both the anchor and sole office tenant of the building.
Lendlease Managing Director Mark Menhinnitt was quick to express his excitement over the long-term lease taken out by the coworking giant.
“People around the world are demanding greater flexibility in how they work. WeWork’s decision to lease Daramu House in its entirety is evidence of this trend."
Last week WeWork announced its first Brisbane location which will cater for up to 1,000 new workers.
Not only is this more recent news a strong indicator of the growing popularity of coworking spaces, but likewise a strong endorsement of the renowned Barangaroo South precinct.
"WeWork’s members will join the almost 20,000-strong cohort of workers that have already made Barangaroo one of Sydney’s best and most exciting places to work.”
WeWork’s newest acquisition will be inclusive of both classic and ‘enterprise’ members; the latter who are companies with over 1,000 employees and agree to longer leases. These enterprise members make up 20 percent of total membership for WeWork, and include the likes of Microsoft and Deliveroo.
“Many of our enterprise members are already located within the Barangaroo precinct, so WeWork at 1 Sussex St will provide great new amenity for them,” Senior Director of Real Estate Jonathan Kearins added last week.
Daramu House is WeWork’s ninth location in Australia, and is expected to open in early 2020.
Cover Image: Barangaroo Delivery Authority