Global music streaming business Spotify has launched its Australian headquarters with a new five-year lease at one Sydney CBD's newest office towers, One Wharf Lane by Singapore's M&L; Hospitality.
Spotify will lease levels 17 and 18 at the Sussex Street property, in a deal by Knight Frank's Tina Raftopoulous and Robin Brinkman.
Also in the building are advisory and consultancy firms Cor Cordis and Turner Townsend, each securing a floor on levels 20 and 19 respectively. Both companies signed seven-year leases for 745 square metres of floor space through Colliers International's Jock Gilchrist and Thomas Fredriksen.
Another new tenant is expanding global education technology company Instructure, which has leased 1500sq m.
The tower overlooks Darling Harbour and is the extension of M&L;'s $160 million upgrade of the former Four Points by Sheraton hotel complex at Sussex Street, now the Hyatt Regency. The hotel adjoins the tower and underpins the block.
Colliers International and Knight Frank said the popularity of the tower was due to its space flexibility.
"The flexibility of the workspace and its location within a 24/7 city block is appealing to all tenant types from traditional corporates, to new modern tech companies," Mr Fredriksen said.
"The speed at which this building has been leased – nearly half within the last six months – shows tenants are drawn to the quality and boutique nature of our offering and are impressed by features such as the 360-degree panoramic harbour and city skyline views," Colliers' Jock Gilchrist said.
Spotify joins a brigade of technology companies such as Uber, WeWork and LinkedIn setting up shop in the CBD.
There are three remaining floors left at the top, which come with naming rights. These floors will be leased at a net annual rent of $975 a square metre.
