Elaine McFadden
November 13, 2015

Atlassian bid for ATP falls short

Atlassian bid for ATP falls short

Rob Stokes & Mike Baird want tech hubs thick on the ground in Sydney

Atlassian’s late-entry to the tender process to buy to the Australian Technology Park has ultimately come to nothing, with NSW Planning Minister Rob Stokes yesterday awarding the sale and development contract to a consortium led by property group Mirvac.

Mr Stokes said the sale of the ATP to the Mirvac-led consortium, which included the Commonwealth Bank as an anchor tenant and financial commitments from AMP Capital and SunSuper, would ensure the government’s vision for the Park “as a vibrant creative and tech precinct can be realised.”

In the end, the tender became a two-horse race, with Mirvac and a consortium led by Walker Group – which Atlassian as a pre-committed anchor tenant – the contenders.

While on the losing side of the bid, Atlassian might yet find a home in the park. It is understood that as part of its contract arrangements, Mirvac is obliged to enter discussion with the software to find space in the Park if they can come to terms.

The bids were each technology-focused as a requirement of the tender specifications.

“Our aspiration for this site is to continue the transformation from dilapidated railway buildings to a growing technology hub,” Mr Stokes said.

“Mirvac and its partners have made a commitment to revitalise the existing technology precinct, and the NSW Government has secured ongoing environmental, heritage and access commitments.”

As part of the winning tender, Mirvac will develop new office space across the buildings and will also revitalise the Locomotive Workshop, which will be dedicated for technology and innovation users and startup businesses.

Additionally, up to 75,000sqm of floor space capacity will be reserved at ATP for technology uses into the future.

The Mirvac consortium is also planning to use a new $2.1 million Tech Incubation Fund to be established by Mirvac, the Commonwealth Bank and Centuria to encourage technology startups to locate in the Park.

Mirvac has also entered into a Memorandum of Understanding with the University of Sydney to support digital and creative industries and confirmed there is potential to accommodate other tech companies within the campus.

With the announcement of the re-development of the White Bay harbor site as a technology precinct, and the University of Technology, Sydney pressing hard for the Powerhouse Museum site to be reserved for a startup eco-system hub, the inner-city of Sydney is becoming the destination du jour for the technology industry.

The Mirvac consortium has also made a commitment to improving community facilities within ATP through a significant investment to upgrade to public areas, making them more accessible with benefits including a community building, childcare facilities, fitness facilities and the provision for retail outlets, cafes and restaurants.

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