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News Originally posted at afr.com

WeWork in Pyrmont, won’t we?

September 19, 2015

Old run down buildings that are to be sold as part of the Walil's property sale.Pictured is 100 Harris Street, Pyrmont.11th December 2014.Photo: Steven Siewert

New York-based office space provider WeWork is close to renting its first Australian office, a refurbished heritage warehouse in Sydney’s Pyrmont, sources said.

The company that targets the entrepreneur- and freelancer-heavy cohort of Gen Y workers by offering them a sense of community – and free beer – has been looking for space in the NSW capital and could rent up to 8000 square metres in the 100 Harris St building, a former wool store.

In May The Australian Financial Review reported that developer Michael Teplitsky had purchased the building for $90 million.

Karbon Property agent James McCourt, who is marketing the building, declined to comment. Darren Williamson, a project manager with Mr Teplitsky’s Tepcorp, said he wasn’t sure “where the leasing was up to” on the property.

A move by WeWork to the building would make it neighbours with property portal Domain, which in July became the first large tenant to sign up to the renovated building on a 4000-square-metre lease.

Domain, owned by Fairfax Media, publisher of The Australian Financial Review, will start moving out of its current premises at nearby No 1 Darling Island Road and into 100 Harris St ahead of the expected completion of the refurbishment mid-next year.

Domain’s relocation has fuelled some speculation the group is preparing for a float over the coming years, although Fairfax Media has said publicly it has no plans for a trade sale or initial public offering.

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