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Lendlease puts Darling Square’s Exchange up for sale

September 12, 2018

The distinctive seven-storey Exchange building is due for completion in mid-2019. Photo: Supplied

Nick Lenaghan and Michael Bleby

Lendlease has put its mixed-use Exchange building at Sydney’s Darling Square up for sale, with a price tag believed to be upwards of $70 million.

The distinctive seven-storey building designed by Japanese architect Kengo Kuma will contain retail and community facilities, anchored by Chinese restaurant Golden Century and with two storeys used for a new City of Sydney library and innovation hub.

The building, which will be wrapped with almost 20 kilometres of timber, giving it a distinctive facade, is under construction and is due for completion in mid-2019.

“This building is the centrepiece of Darling Square,” John Burton, Lendlease’s managing director for urban regeneration said.

“Darling Square is building on the revitalised energy of Darling Harbour by combining commercial, retail, residential with public open spaces.”

The lettable area is 6095 square metres with a typical floor plate being 950 square metres.

A childcare facility on levels three and four will be leased to the Commonwealth Bank of Australia. The level-five rooftop offering has views of the Sydney CBD skyline, the Chinese Garden of Friendship and Darling Harbour.

CBRE director James Parry, who is marketing the building, said it was a good opportunity to invest in a new urban neighbourhood.

“With a range of key tenants already in place, The Exchange is set to become an important part of the city’s fabric, bringing food, learning and community together in a unique architectural form,” he said.

In 2016, Lendlease sold all 391 apartments in its third and final stage release of units.

Upon completion, the precinct, bordered by the Powerhouse Museum to the west, Paddy’s Market and UTS to the south and Chinatown to the east, will bring together approximately 1500 residential units, 26,000 square metres of commercial office space, 12,000 square metres of retail, community and leisure uses, 1300 bed student accommodation and a 590-room luxury hotel, the Sofitel.

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