Far East Organization (FEO) acquired 570 George Street, Sydney in 2014 of which the commercial tower component is wholly tenanted by Ausgrid. After decades of occupation, Ausgrid are relocating upon the expiration of their current lease, being 30 June 2019. FEO are taking the opportunity to reposition the asset by way of major building upgrades which will occur in a fully vacant building over a period of 12 months. The repositioning is targeted at attracting a new mix of tenants commencing occupation from July 2020. The building will target a B-Grade level of quality and finish in line with the Property Council of Australia guidelines.
SCOPE OF SERVICES
Gallagher Jeffs have been appointed as Project Manager and working with FEO, have recently appointed the design and services teams. Pending the tenancy mix, the building is targeting a 4.5 star Nabers rating.