Keppel REIT’s 8 Chifley Square now over 56% pre-committed

Sydney property signs new tenant QBE Insurance.

In a release, Keppel REIT Management Limited (Keppel REIT Management), as Manager of Keppel REIT,announced that its jointly-owned property with Mirvac Group (Mirvac) in Sydney, 8 Chifley Square, has signed on a new tenant, QBE Insurance Group, one of the world's top 20 general insurance and reinsurance companies.

This brings the total pre-commitment at 8 Chifley Square to more than 56%, the company said.

Under the 10-year lease agreement, QBE will occupy approximately 30,000 sf of prime office space on the top four levels of 8 Chifley Square. QBE joins leading law firm, Corrs Chambers Westgarth, which has also made 8 Chifley Square its preferred business address.

Ms Ng Hsueh Ling, CEO of Keppel REIT Management, said, "The strategically-located 8 Chifley Square continues to attract good leasing interest from well-established corporate tenants. We are happy to add QBE to our portfolio of blue-chip tenants. QBE's long lease term of ten years will lengthen Keppel REIT's portfolio weighted average lease term."

Mr Andrew Butler, Mirvac's CEO Investment, said, "We are delighted to welcome QBE to 8 Chifley Square. Our ability to develop premium grade commercial buildings of this calibre has led to this new lease and demonstrates the appeal of 8 Chifley Square for tenants considering high quality, sustainable accommodation with adaptive workplace platforms."

8 Chifley Square is a 34-storey premium grade office building located at the junction of Phillip Street, Hunter Street and Elizabeth Street in the heart of Sydney's CBD. The tower will comprise approximately 206,000 sf of net lettable area.

Designed by Rogers Stirk Harbour + Partners and Lippmann Partnership, 8 Chifley Square features a "village" concept where tenants can lease one to three floors of contiguous office spaces which are interconnected and which is said to improve interactivity between its occupants. The building also features a unique five-storey high forecourt space.