The Ideal Backfill Success Story: 37,000sqm of space leased by Cadigal
10 Shelley Street is a premier A-Grade office tower, originally developed in 2003 and having undergone a major refurbishment in 2017. The building offers a substantial 27,700sqm of Net Lettable Area (NLA) distributed over 15 levels, with highly efficient, typical floorplates of 1,972sqm featuring a central core design.
Strategically positioned amidst the King Street Wharf and Barangaroo precincts, the asset provides immediate access to Wynyard Walk, which seamlessly links to Wynyard Station and the Core CBD area.
Pictured: 10 Shelley Street
Asset Features & Advantages
The building’s key attributes provide a distinct advantage for tenants seeking superior quality and location:
- Highly Efficient Floorplates: Large, regular-shaped floors with a central core design allow for optimal space planning and flexible configurations.
- Prime Accessibility: As the closest building to the Western entrance of Wynyard Walk, it offers unparalleled convenience for commuters.
- Vibrant Amenity: The tower is adjacent to the thriving retail and lifestyle amenities of Barangaroo.
- Unique Recreation: Tenants benefit from immediate access to the Harbour foreshore and its unique recreational opportunities.
Pictured: 10 shelley street external streetscape
pictured: fitout at 10 shelley street
Stage 2 (2021 – Current): Agile Leasing in a Dynamic Market
Client:
Background & Challenge
The building’s major tenant, Suncorp, exercised its right to contract its tenancy area between 2021 and 2024. This resulted in five levels becoming available, creating a vacancy of approximately 9,000sqm, which represented 32% of the building’s total lettable area.
Cadigal’s Re-appointment & Role
Cadigal was re-engaged as Leasing Agents by the new owners, Charter Hall, with Shaun Keating, Jessica Martiniano, and Mark Tindale representing our firm. Our mandate included providing expert advice on prevailing market conditions and lease terms, coordinating marketing materials, and conducting proactive targeting and engagement with suitable corporate tenants. Cadigal once again managed the complete leasing process, from initial engagement through to the successful completion of lease negotiations and documentation.
Leasing Outcomes
Through our targeted and professional efforts, Cadigal successfully leased all vacancies on optimal terms and conditions, achieving minimal downtime for the owner.
- 2025: Teachers Mutual Bank leased 4,958sqm over Levels 6-8.
- 2022: HLB Mann Judd (Advisory and Accounting) leased 2,280sqm over Level 5 and Part Level 4.
- 2022: NCS (IT Services) leased 1,580sqm on Part Level 4.
The success at 10 Shelley Street, totaling 37,000sqm of leasing transactions, demonstrates Cadigal’s unwavering commitment to client outcomes and our ability to deliver tailored solutions in complex market conditions.