Construction has begun on Atlassian’s $1.4 billion Sydney headquarters which will anchor the state’s technology innovation precinct.
The software giant, the NSW Government and development partner Dexus have finalised an agreement on the 39-storey, reportedly worth more than $800 million for the building expected to open in 2027.
Atlassian signed on as the first anchor tenant of Tech Central in 2020, revealing its plan to build a 75,000-square-metre building using hybrid timber construction that will halve the carbon emissions of a conventional equivalent.
The state government announced the milestone on Thursday, saying the Atlassian base represents a key plank in its innovation push, with fellow tech companies Afterpay, Canva, ROKT and Safety Culture set to also join the precinct.
Sydney Tech Central is a 24-hectare innovation and technology precinct being developed under the guidance of the New South Wales government. Aside from Atlassian Central, the precinct also features a space research network, quantum startup hub, and a scaleup hub.
“This iconic building will play a vital role in supporting NSW talent attraction and retention efforts and become a beacon for the technology industry,” Minister for Enterprise, Investment and Trade Alister Henskens said.
“In a fierce global skills market, on its completion the building will boost our market competitiveness and welcome 5,000 future technology and supporting industry jobs, in addition to creating over 800 construction jobs.”
In March, Atlassian formalised its construction deal with ASX-listed property developer Dexus, which will have a 60-65 per cent ownership stake in the building. Atlassian will hold the rest and has agreed to lease the office accommodation for at least 15 years.
The construction will see the YHA backpacker accommodation currently at the site changed into the building’s entrance, with a new YHA facility occupying the bottom levels of the new facility.
Atlassian cofounder Scott Farquhar also welcomed the milestone at an on site event.
“We’ve been involved in the Tech Central vision from day one,” he said. “Atlassian is built on bright ideas, strong values, and great teamwork, and we can’t wait to see this come to life in Atlassian Central.”
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