Source: Pexels
Australia’s tech industry contributes $122 billion to the economy. With Microsoft, Apple, and Google quite recently setting up Australian headquarters to fuel further economic growth, we thought we'd take a look at the impressive buildings that house these giants of tech.
Microsoft – 1 Denison Street, North Sydney
Currently under construction, the office tower at 1 Denison Street in North Sydney promises to be the tech hub of the future, with the building also set to be home to SAP’s A/NZ headquarters and Nine Entertainment.
The move to 1 Denison shows Microsoft’s commitment to the Australian market shortly after a time when many were unsure about the company’s financial performance. After launching the Xbox One in 2017, Microsoft’s share price fell 2.93%. However, since then, the Xbox One has recovered and, as of 2018, it held a 37% share of the Australian market. On an individual level, this was also positive news for share traders and CFD traders. There were different benefits for those trading CFD vs shares, when considering the company, but both benefitted from the improved financial outlook of the business. The improvement in market shares was good for traders, the company, and the Australian economy alike.
Source: IG
At 1 Denison Street, Microsoft wants to create a modern, inspiring atmosphere, essential for employees and customers alike. The building will feature innovative architectural design, state-of-the-art productivity solutions, and an atmosphere that facilitates the sharing of creative ideas and experiences for improved collaboration.
The building is set to be finished in 2020 and will have an end value of $1.2 billion. With sleek curves and an elegant style, it will be a hallmark of the Sydney skyline, standing 156 metres high.
Apple – Martin Place
Source: Pixabay
Data shows that Apple is now dominating Australia’s smartphone market, capturing almost 60% of the market share. As a result of the company’s dominance in the Australian market, in 2015 they announced they were moving to Sydney’s Martin Place with a 10-year lease.
Owned by the US real estate group Pembroke, who paid $95 million for the office block, Martin Place is the hub of the IT world and has been dubbed ‘Silicone Place’ due to tech investment. LinkedIn is also based at 1 Martin Place, with the offices of Facebook and Twitter also nearby.
Combining contemporary thinking with an environmentally sustainable design, this state-of-the-art building has full-height, overlapping rows of glass panels that create an intricate layer of mirrored panels, while bands of luminous glass run along the base, illuminating the building with constantly changing colours that react to natural light.
Google – Workplace6 and Workplace7
Google’s new Sydney based office at Workplace6 is more of a fun park than an office space. Sydney was the birthplace of Google Maps and Google wants to keep its strategic home.
The building has a prime location looking across the harbour bridge, and everything within it is designed to get creative juices flowing. There’s an equipment-packed music room, a ‘living wall’ of plants and breakout rooms that are themed, with options including libraries and under-the-sea adventures.
In 2018, Google also purchased Workplace7 across the road from property developer Aqualand. The Sydney Morning Herald believes that, due to increases in land values for the past three years, they may have paid up to $150 million.
Partially due to the investment of tech companies in Australian commercial properties like these, commercial property is currently deemed as "super attractive" to global money managers, according to The Australian Financial Review. As a result, further floods of capital from tech companies are definitely expected, and it seems like the only way is up both for the commercial property prices and the values of the tech firms that reside within them.
