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News release


Macquarie Park’s technical tenants get a revamp

​​​​SYDNEY, 14 MARCH 2015 – Macquarie Park owners are implementing creative rejuvenation solutions for older-style facilities, catering for the area’s significant demand for technical and laboratory stock.

The latest example is at 40 Talavera Road, which has been refurbished for its existing tenants while attracting new occupiers to the building. Current technical and laboratory tenants include medical specialist Edwards Lifesciences, BAE Systems, which create high-tech military hardware, Carl Zeiss, creator of optical instruments, and Peptech Animal Health. 

JLL’s Director in Charge – North Sydney, Denys Bizinger, and JLL’s Director of Industrial – North Sydney, Ben Byford, are managing the leasing process. There is 3016 square metres of office and warehouse space currently available at 40 Talavera Road. 

Mr Bizinger said he is receiving high levels of enquiries for the building from tenants with similar requirements – however, there is a drying up of supply for this type of stock.

“There is a significant demand for space that can cater to technical and laboratory tenants. These types of tenants tend to stick together, wanting to be in a similar location to both clients and competitors. They also often have strict operational requirements which Macquarie Park’s high-tech premises can offer. These include air-conditioned ground floor areas that have access to loading docks to receive and distribute goods, abundant parking and also cost-effective rents.”

According to Mr Bizinger, eventually, Macquarie Park is set to become one of Sydney’s major CBDs. “New government zoning allows for 3:1 Floor Space Ratios (FSRs) which enable taller office towers to be built in the area, commanding higher net face rents. This will translate over the coming decade, and stock available for technical and laboratory use will continue to diminish.

“We anticipate many of the technical and healthcare tenants who require laboratories may eventually look to areas such as the Inner West, Castle Hill or Norwest over the long term.” 

Mr Bizinger said owners are looking at creative solutions to upgrade stock for these types of tenants to create greater value, without having to knock down the buildings.

“Another recent example of an upgrade to create more value from a property to capitalise on the increased FSR, without completely removing the framework, is at 1 Waterloo Road. The property comprising a concrete frame structure is currently a two-storey office and warehouse facility. It will be expanded by adding additional floors to create a four-level commercial building.” 

The property at 1 Waterloo Road was recently sold by JLL’s Denys Bizinger for $7.5m to local developer Waterloo Constructions.

The property at 40 Talavera Road, Macquarie Park is a large estate consisting of a variety of spaces including offices, high-tech areas, low-clearance manufacturing and a high-bay warehouse. 

The two-storey building sits on a landscaped 2.5 hectare site, with multiple external staff break-out areas plus a child-care centre. Parking is a combination of secure external spaces and multi-decked undercover.

The estate at 40 Talavera Road is situated on the corner of Talavera and Khartoum Roads, in the Macquarie Park business precinct. It is in close proximity to the Macquarie Shopping Centre, bus interchange and the railway station. Macquarie Park is located approx. 14 kilometres from the Sydney CBD via Epping Road, or the M2 Motorway. 

Macquarie Park is currently benefitting from a significant overhaul, with infrastructure projects and the redevelopment of key facilities. This includes the $440 million redevelopment of the Macquarie Centre which reopened late last year as the largest shopping centre in Sydney.

Three existing railway stations are being integrated into the North West Rail Link – Australia’s largest public transport infrastructure project currently under construction, with an estimated cost of $8.3 billion. It is set to be the first fully-automated rapid transit rail system in Australia. The project will deliver eight new railway stations and 4,000 commuter car parking spaces to Sydney’s growing north-west region.