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News release


The “TAMI” sector is the major driving force in Sydney’s office leasing market: JLL

50 per cent of 155 Clarence Street is now leased, with technology business Tyro Payments and creative and media agency Havas taking up approx. 6,000sqm of office space in the property

​SYDNEY, 27 August 2014 – The TAMI sector, encompassing technology, advertising, marketing and IT, is the major driving force in Sydney CBD’s current office leasing market, according to JLL agents. Two major recent deals highlight this activity.

Tyro Payments, Australia's only independent and fastest-growing EFTPOS provider, has leased 3,792sqm of office space at 155 Clarence Street, while creative and media agency Havas is set to move into 2,199 sqm in the same property. Tyro Payments will move from 1,100sqm in its existing Clarence Street office space, reflecting the company’s high levels of recent growth, while Havas will move from North Sydney to be in the centre of the Sydney CBD.

JLL’s Directors of Office Leasing for Sydney, Tom Mott and Alex Wong, are managing the leasing process for the two deals, which are some of the more significant moves in the market this year.

According to Mr Mott, “The TAMI sector, made up of technology, advertising, marketing and information technology businesses, is taking the Sydney CBD leasing market by storm at the moment – we’re seeing a lot of growth, enquiry and office space take up in this sector.  The likes of Apple, Salesforce, Atlassian and Google are actively in the market looking for their next home.

“There were specific drivers behind the moves of Havas and Tyro Payments – including moving into the CBD and business growth – however the reason for the choice of 155 Clarence Street was what it offered them.

“As part of the respective deals, both businesses have secured exclusive access to outdoor entertaining space, which is a rarity within the Sydney CBD. There are three terraces in the property in total – two of which have now been taken up. We expected the terraces to be a big driver of interest, and they have been,” said Mr Mott.

Tim Casey, Executive Chairman of St Hilliers, said the 1930s-style heritage office building at 155 Clarence Street will be completed in November 2014. The sensitive regeneration program, being competed by St Hilliers Property, is set to be a stunning example of classic architecture meeting contemporary office design. 
The refurbishment will provide 11,925 square metres of A-grade office space with all new services.

Mr Wong said, “There is 6,000sqm remaining in the building, and it is being sought after by tenants looking for elegant and effective space in the centre of Sydney’s CBD. We are receiving interest across a variety of industries, including businesses from the creative sector that are attracted to the high ceilings and classic architecture, which is great for imaginative thinking.

“The side core and typical floor areas of 1,267sqm and 831sqm provides the opportunity to plan efficient and collaborative work spaces.

“The space will be ideal for tenants across a variety of industries, including more traditional sectors such as engineering and financial as well as advertising and marketing, IT, recruitment, architects and other creative users,” said Mr Wong.  

Chris Mattes, Manager of Development at St Hilliers, said, “The property offers CBD tenants a vastly different office space solution which also includes all new services, end-of-trip facilities, and a building design influenced by European modernism.

“The space being offered to the market sets a new standard for office accommodation in the Sydney CBD,” said Mr Mattes.

Key features of the refurbishment project at 155 Clarence Street include an under-floor air-conditioning system, three outdoor terraces and comprehensive changing and shower facilities. The project is set to achieve 5 Star Green Star - Office Design v3 and As Built ratings, and a 4.5-star NABERS Energy rating.

In total, the building offers seven existing floors comprising 1,264 square metres – all regenerated to the latest contemporary office space standards – and three brand-new floors, each 831sqm.

155 Clarence Street offers occupiers a diverse mix of the old and the new. Fuelled with character, the timeless external facade will be restored to its former glory, while the interior will be entirely regenerated.