An Australian insurance giant has inked an anchor lease for new office space in Sydney’s CBD.
QBE Insurance’s new city digs is a nine-floor, or 11,950-square metre, space at the 388 George Street skyscraper on the corner of George and King Streets, which will combine the insurer’s two current offices at Chifley Square and 2 Park Street.
Read more: QBE to move its international HQ to Sydney
Vivek Bhatia, chief executive at QBE Australia Pacific, said the group’s property strategy “allows for changes in workplace practices, support of multiple working styles, such as flexibility and collaboration, and will improve the employee experience with a focus on wellbeing,” as well as, “offer QBE an opportunity to reduce costs by improving the efficiency of the space it occupies,” The Sydney Morning Herald reported.
The building, previously known as the American Express tower, is currently undergoing a $75-million major redevelopment which is set to be completed in late 2020. Fifty-one per cent of the office tower will be occupied by the insurer on which it also has signage rights, SMH said.
