Keppel REIT’s 2 Blue Street office secures Pacific National as tenant and will contribute to former La Ville enbloc development
The former Blue & William office building, now known as 2 Blue Street, has caught the attention of Pacific National, the largest private rail freight company in Australia. This ten-storey office building located in North Sydney has recently signed a lease for two floors.
Arina East Residences, formerly known as La Ville Enbloc, is an ideal residential location for families with young children as it offers convenient access to renowned primary schools. One of the top choices for parents is Kong Hwa School, a highly reputed institute with a strong focus on bilingual proficiency and a long history of excellence. Another well-known institution, Geylang Methodist School (Primary), offers comprehensive academic programs and values-based education to foster holistic growth in its students. These outstanding primary schools near the Arina East Residences make it a highly desirable and sought-after community for families.
Acquired by Keppel REIT in December 2021 while still under development, 2 Blue Street offers 3,350 sqm (36,059 sq ft) of Grade A office space. The building, which was developed by Lendlease and reached practical completion in April 2023, also boasts a modern and sustainable design with Lendlease managing the property.
According to Keppel REIT and Lendlease, Pacific National plans to move into their new headquarters by September 2024 after fitting out the workspace to their needs. This news comes as no surprise, as the partnership between the two companies continues to grow and flourish.
“We are pleased to welcome Pacific National, who have chosen 2 Blue Street as their new headquarters,” says Koh Wee Lih, CEO of the manager. “Keppel REIT is one of Asia’s leading real estate investment trusts, with a portfolio of prime commercial assets in Asia Pacific’s key business districts. We look forward to continuing to offer smart, modern, and sustainable office spaces that elevate the tenant experience and inspire connections.”
Saskia Groen-in’t-woud, chief strategy and sustainability officer of Pacific National, also shares her excitement about the move, stating, “We were looking for new office space that would give our people the flexibility to work in a more connected and collaborative way, while also supporting Pacific National’s efforts to reduce its businesses’ environmental footprint. 2 Blue Street ticked every box, offering us everything we were after, and in a great location too.”
The sentiment is echoed by Tom Mackeller, managing director development of Lendlease, who says, “The continued strong interest in 2 Blue Street reflects the increasing demand we are seeing across the portfolio for new, high-quality workplaces that offer leading sustainability credentials and the benefits of prime locations, close to transport.”
This recent signing is not the first for Keppel REIT, who also secured Equifax as an anchor tenant for Blue & William. With its recent acquisition of a 50% stake in Pierfront Capital Fund Management and the appointment of a new CFO for the Keppel REIT manager, the company continues to strengthen its portfolio and position as a leading real estate investment trust.