Mercedes-Benz distributor heads to Sydney Corporate Park

Asia-Pacific's Mercedes-Benz distributor has signed the largest lease in the Goodman Group's Sydney Corporate Park, at 160 Bourke Road, Alexandria, this year in a deal struck by LJ Hooker Commercial South Sydney.

The automobile arm of Lei Shing Hong, a Hong Kong-based diversified group, has taken an entire 5800-square-metre warehouse and office facility. Mercedes-Benz Sydney found the facility and its proximity to Sydney Airport and Port Botany an ideal base for operational efficiency for its customers, said leasing agent Daniel O'Brien, of LJ Hooker Commercial South Sydney. The new tenant has committed to a seven-year lease at a square metre rate exceeding $200 per square metre.

"It represents the biggest lease deal in Sydney Corporate Park this year and underscores the demand for warehousing in South Sydney, especially against the transformation of many industrial precincts for residential and mixed-use purposes."

New digs

Law firm Hicksons has signed a heads of agreement with Lend Lease for a seven-year lease at Tower 1 Barangaroo. The lease is on level 24, spanning 2300 sq m. Hicksons' project director Steve Urwin, of Kernel Property, said the agreement strengthened the lease profile of the tower, with "Hicksons cohabiting with other first-class businesses such as PwC, HSBC, Marsh & McLennan and Servcorp".