Macquarie enters agreement to acquire 48 Martin Place
29 March 2012
Macquarie Group Limited (Macquarie) today announced that it had entered into an agreement to acquire buildings located at 48 Martin Place and 9 – 19 Elizabeth Street from the Commonwealth Bank of Australia (CBA). These buildings, together with other premises including 1 Shelley Street, will house Macquarie’s operations in Sydney from late 2014.
Opened in 1928, 48 Martin Place was originally the headquarters for the Government Savings Bank of NSW which was later incorporated into the CBA. CBA's branch and safe custody offices will remain open at 48 Martin Place through a long-term lease agreement.
Macquarie’s head of Business Services Will Walker said: “48 Martin Place holds a significant place in Australia’s financial services heritage and we are delighted to be acquiring it along with its neighbouring building on Elizabeth Street. The decision to acquire these buildings follows extensive consideration of suitable options for when Macquarie’s lease at No. 1 Martin Place expires.
“The move to 48 Martin Place continues our association with the commercial heart of Sydney and allows us the rare opportunity to invest in a landmark building and reinvigorate the space within to provide a more flexible, connected and sustainable workplace for the benefit of our staff and clients.”
Contact:
Lisa Jamieson Corporate Communications +61 2 8232 6016
Navleen Prasad Corporate Communications + 61 2 8232 6472