Scentre Group plans to build the largest office building in Parramatta, Sydney, The Australian reported Oct. 10.
The 175-meter tall 151 Church St. tower would be located atop the A$2 billion Westfield Paramatta, which the company co-owns with Singapore's GIC Real Estate. The two are tipped to have filed with the New South Wales government to increase the office space at the tower to 100,000 square meters from 35,000 square meters and more floors to 40 from 25.
Scentre's move is reportedly a way to get ahead of competition with other office landlords such as DEXUS Property Group that are vying to secure thousands of government employees that are relocating to Paramatta from the central business district of Sydney.
DEXUS recently disclosed a plan for a 25,000-square-meter prime office building at 105 Phillip St., which would house 1,800 employees from the New South Wales' Department of Education by March 2018.
As of Oct. 7, US$1 was equivalent to A$1.32.