ISPT's A-Grade commercial building 18 Marcus Clarke now 97 percent leased
ISPT has welcomed additional tenants at Pathway Place following a $67 million upgrade
The new tenants include The Department of Veteran Affairs and the Civil Aviation Safety Authority.
The redevelopment included a complete renovation of all levels alongside a reconfiguration of the adjoining ground floor planes.
Leading Australian property fund manager ISPT has welcomed additional tenants at its $125 million A-Grade precinct Pathway Place in Canberra, following its $67 million upgrade.
Pathway Place is a commercial and mixed-used precinct comprising 18 Marcus Clarke Street and 7 London Circuit, which are linked via William Clemens Street. Centrally located in Canberra’s western CBD, the two buildings are connected via an activated pedestrian plaza and have been re-positioned into a high-quality precinct that includes market-leading amenities.
The Department of Veteran Affairs (DVA) has signed a long-term lease across six levels at 18 Marcus Clarke Street, commencing in May 2025.
DVA join the ranks of the Civil Aviation Safety Authority (CASA), which moved into 18 Marcus Clarke Street in December 2023 after signing a long-term lease spanning circa 6,600sqm across the top three levels.
Earlier this year, the Australian Maritime Safety Authority (AMSA) also moved into 18 Marcus Clarke Street after closing a deal with ISPT for circa 4,800sqm across two floors on a long-term lease.
The trio of Federal Government tenants bring the 18 Marcus Clarke Street asset to 97 percent leased.
All lease transactions have been managed by Troy Markos of CBRE and Andrew Balzanelli at JLL.
The commercial precinct recently underwent a $67 million redevelopment, led by Cox Architecture, and included a complete renovation of all levels alongside a reconfiguration of the adjoining ground floor planes.
As part of the upgrades, the community will enjoy access to new alfresco areas, dine-in cafes and restaurants.
Tenants will also enjoy access to the Flex by ISPT amenities at a discounted rate, offering access to executive meeting rooms, collaboration, event and conference spaces, as well as end-of-trip facilities with a wellness centre, the latest technologies and convenient third spaces.
When complete, the outdoor space – by landscapers Oculus and AMC – will include an integrated native landscaping palette, extensive seating and gathering areas, a pavilion structure for all weather hospitality and new lighting.
Pathway Place holds a 5 Star NABERS Energy rating and features rooftop solar panelling, rainwater tanks and energy saving utilities as part of ISPT’s long-term Power Purchase Agreements, which will use electricity sourced solely from renewables for the next ten years.
Quotes attributed to Nicole Ward, Head of Portfolio (Office) at ISPT:
“Welcoming DVA, CASA, and AMSA to Pathway Place is reflective of our strategy of delivering high-quality, future-proof office space that suit the long-term needs of tenants including federal government departments and speaks to ISPT’s innovation and commitment to refurbishing assets as part of its responsible investing strategy.”
“These reimagined assets have been positioned to transform a re-emerging corner of the CBD, providing high-quality, A-Grade office space that prioritises new services, technology and market-leading amenity.”
“We’re excited to be delivering another retrofit at the contemporary Pathway Place precinct, which will breathe new life into west Canberra and become a place where people will be able to work, connect or reset in beautiful, landscaped spaces.”
For further information please contact:
Nicole Grove
General Manager, Communications
E: ngrove@ispt.com.au
M: 0427 916 166
