Deutsche Bank extends commitment to 126 Phillip Street beyond 30 years with third lease renewal

Investa has secured a third lease commitment from global financial institution Deutsche Bank at its namesake Sydney office tower, Deutsche Bank Place at 126 Phillip Street in Sydney.

The transaction will see Deutsche Bank recommit to 4,332sqm at the building on a new 10-year lease, extending a relationship that began when the organisation first occupied the tower following its completion in 2005.

The renewal, which will extend occupancy at 126 Phillip Street to more than three decades, underscores the enduring appeal of one of Sydney's most distinctive and tightly held office assets.

Designed by globally renowned architect Lord Norman Foster, Deutsche Bank Place at 126 Phillip Street is a 34-storey Premium-grade office tower spanning approximately 42,000sqm. The building is defined by Australia's tallest full-height atrium which rises 160-metres through the centre of the tower and floods its workplace environments with natural light, expansive column-free floorplates, and floor-to-ceiling glazing with views across Sydney Harbour and the Royal Botanic Garden. Positioned on the prestigious north-eastern edge of the CBD, the building continues to evolve with a refreshed food and dining offering through the Assembly, further enhancing the workplace experience for tenants and visitors.

Helen Wilkinson, General Manager at Investa said: "To see Deutsche Bank recommit to 126 Phillip Street for a third lease term, extending its commitment to more than three decades, is a powerful endorsement of the building, its workplace offering and its ongoing appeal to leading global organisations. Having occupied the building since completion, Deutsche Bank has been an important part of the building's history.

"We're also continuing to see strong demand from occupiers seeking high-quality space at Deutsche Bank Place. The level of interest in the space recently made available within the building reflects the enduring appeal of premium workplaces that combine exceptional design, amenity, connectivity and location."

Brendan Looby, Investa Commercial Property Fund (ICPF) Fund Manager and Head of Asset Management, said: "ICPF is focused on maintaining and enhancing assets that continue to attract and retain leading occupiers. Deutsche Bank's third lease renewal is a strong endorsement of the building's quality, its ongoing evolution and the value that exceptional workplace experiences create for customers over the long term."

Managed by Investa since the building was completed, Deutsche Bank Place at 126 Phillip Street is owned by Investa Commercial Property Fund (ICPF), Investa Gateway Office (IGO) and a Mirvac managed fund.