Tipalea Partners are excited to announce we have received approval for Mascot’s Healthiest and Most Productive Workspace – an 11-storey, 18,000 square-metre office building located at 50 Kent Road.
The DA for ‘Fifty Kent’ was approved by Bayside Council earlier this month. Designed by Sissons Architects, the building will deliver over 18,000 square metres of brand-new commercial space over six levels, on top of a three-level carpark podium for 238 cars. Generous floorplates of 2,900 square metres offer a flexible design to accommodate both whole-floor and multi-floor tenants, with the potential for inter-floor stairway connectivity.
Tipalea Partners have seized the opportunity for a commercial office space outside of the CBD, with many companies looking to move operations to fringe CBD suburbs in recent times. Colliers International South Sydney director, Michael Crombie, said firms have been forced to move outside the city area due to rental increases.
“The (Fifty Kent) development delivers CBD quality at 60 per cent of the rental cost; Mascot has comparable existing rents to Homebush and Macquarie Park but substantially more amenity and just two train stops to Central Station,” Crombie said
A range of corporates are expected to be attracted to this new space, according to the leasing agents, Colliers International.
“The drive has been to create a commercial development for our ‘new normal’ in a COVID-19 environment. Many large corporates are seeking to decentralise business operations and move away from CBD environments adopting a ‘hub and spoke’ model,” said Scott Spanton, Chief Executive Officer of Tipalea Partners.
“Mascot is now seen as a viable alternative to the CBD and other established fringe areas, and this development will offer brand new corporate space at half the cost of the CBD with greater access for employees and the benefit of substantial on-site parking,” he said.
50 Kent Road will be Mascot’s first WELL pre-certified office building. The focus on health and wellbeing of occupants has been linked to increased productivity and employee satisfaction as well as generating a range of environmental benefits.
An oversized lobby with double-height ceilings, collaborative hubs and an-onsite café are located on the ground floor. In support of its health and wellbeing concept, Tipalea will also create a Wellness Centre with free yoga classes for tenants. A signature feature of the building is its rooftop recreation area, exercise and reflection area and communal garden beneath a lightweight shade canopy.
With strong ESD credentials and a prime position on the corner of Kent Street & Coward Street only 360m from the train station, we expect to attract a number of large corporate tenants.