Investa gets major injection from Pfizer

GLOBAL vaccine and pharmaceutical giant Pfizer has signed a precommitment for space at Investa Office Fund’s Barrack Place development.

Pfizer has committed to lease 4,640 sqm of space at 151 Clarence St, comprising the top four floors of the 18 level building for an eight year term commencing in December 2018. Pfizer is one of the world’s leading biopharmaceutical companies, developing and producing an extensive range of medicines and vaccines.

The deal represents 21% of the building’s Net Lettable Area (NLA) on completion and increases the total precommitment at Barrack Place from 35% to 57% of total NLA.

IOF fund manager Penny Ransom said attracting such a high calibre tenant is an outstanding result and is testament to the quality of the building.

The Green Building Council of Australia has also awarded Barrack Place development a 6 Star Green Star Office Design rating. This represents an upgrade from the original 5 Star target, which was achieved through adopting a lifecycle assessment pathway for the materials strategy and obtaining the maximum number of innovation points available.

The development of Barrack Place is progressing as planned with completion anticipated in October 2018.

Australian Property Journal