Acquired off-market in October 2019 through Mike Crombie of Colliers International, 50 Kent Road enjoys a prime position on the corner of Kent & Coward Street, adjacent to the Mascot Central retail precinct and only 360m to Mascot train station.
At 50 Kent Road, Tipalea Partners will be creating Mascot’s Healthiest and Most Productive Workspace of some 18,000m2 with super-efficient floorplates of 3,000m2 each.
A DA has been lodged with Bayside Council to demolish the existing 2,700m2 office building and build the new office tower with completion anticipated in 2022.
Whilst we have been a long term fan of Alexandria, the record sale of our projects at 23 and 29 Bourke Road in 2018 reset that market to new heights and we have subsequently had to look further afield for value opportunities.
Following significant research across the whole South Sydney market, Tipalea Partners identified Mascot as presenting the greatest opportunities and value for a new commercial office tower.
Reboot the Mascot Narrative
When compared to Alexandria, Mascot’s superior retail amenity and transport infrastructure, as well its well-established resident and worker base, means there is an opportunity for Mascot to become the leading commercial precinct south of the Sydney CBD.
For too long Mascot has had a negative reputation driven primarily by the build quality – which has been restricted by the lower rents and capital values achievable. On the other hand, Alexandria currently enjoys a reputation as the cool and edgy place to be. However, it lacks the infrastructure and amenity that Mascot already has in place. Unlike Alexandria, Mascot already provides:
- well-established office precinct of over 190,000m2;
- substantial residential worker base;
- diverse retail offering and amenity including Mascot Central and Connect Corporate Centre;
- number of childcare options; and
- fantastic rail and road infrastructure.
This latest generation of workplaces, starting with 50 Kent Road, coupled with Mascot’s existing infrastructure will help change this narrative.
Never before has Mascot been able to deliver a “next generation” office development – historically the rents achieved in Mascot were in the range of $300m2 – $400m2 which limited the amount that could be spent on construction. Now for the first time ever, thanks to higher rents and building values, Mascot is able to provide a number of next generation workplaces – put simply we can now build a CBD quality building because the higher rents and values mean we can spend more on construction.
50 Kent Road is the first of a handful of next generation workspaces that will be the catalyst to transform Mascot.
Importantly, these next generation workplaces will create the opportunity for a large number of employees to live and work in Mascot in offices of the quality usually only seen in the Sydney CBD.
Design & Wellness Initiatives
The 11 storey development will comprise 6 floors of office, a multiuse roof area, a 350 bay car park over 3 levels and generous ground floor facilities – some 18,000m2 in total designed by Sissons Architects with Aspect Studios providing wonderful outdoor areas and landscaping.
We have used exceptional design to deliver best in class user experiences in all aspects of our building with a primary focus on two areas that are accessible by all occupants – the ground floor and an active roof.
The ground floor is where the Wellness Initiatives really start to take shape. Rather than trying to “max-out” our leasable space, we have focussed our design on creating great spaces that are functional / substantial / healthy and free by dedicating generous areas back to the building such as:
- massive end of trip facilities that will comprise over 100 bike racks, 20 showers and 300 lockers;
- a dedicated multipurpose “Wellness Centre”;
- a “club lounge” on the mezzanine providing peaceful areas away from the office desk or for post workout recovery;
- a café with healthier options in the lobby;
- beautiful landscaping and public seating inside and outside the lobby;
- oversized lobby with an imposing 7m height.
At over 3,000m2 in area, the roof plane is too great an opportunity to ignore.
Unlike anything else in Mascot, 50 Kent Road’s roof structure will be an active space for the occupants that also screens out the plant rooms with:
- extensive gardens and seating;
- a 200m running and exercise track;
- views over Botany Bay and the Sydney CBD;
- an incredibly generous raised exercise area of almost 190m2; and
- private and open seating areas of almost 190m2 for meetings or thought time away from the office desk.
All of these spaces are protected with a beautiful yet functional roof feature that provides a balance between shading and light access.
With the revitalisation of Mascot and next generation workplaces like 50 Kent Road, we expect to attract a number of large corporate tenants seeking affordable office accommodation in close proximity to the CBD with a professional workforce on its doorstep.