By Aimee Chanthadavong

Approximately 2,000 square metres of retail space over three levels will make up part of the 20 Martin Place property refurbishment.

Pembroke Real Estate has signed a lease agreement with Australia and New Zealand Banking Group (ANZ) to retain its retail presence at the property and to begin refurbishment of the building in July.

Located in the heart of Sydney’s CBD at the corner of Pitt Street and Martin Place, the 1970’s building will feature a glass façade, new building systems and technology, a reconfiguration of the building core to create more efficient, flexible and larger office floor plates, and prime retail along Martin Place and Pitt Street. Upon completion, the building will offer 19,080 square commercial office and retail space over 21 levels.

Jack Clark, vice president and director of the Sydney office, Pembroke Real Estate, told RetailBiz, Pembroke has already received a great deal of interest in the remaining retail and also the commercial space at 20 Martin Place but no commitment has been made yet by any of these parties.

“We are of course open to all enquires, but it is likely the retail space at 20 Martin Place will appeal to high-end, international retail brands that align with the surrounding retailers at Martin Place and Pitt Street such as, Burberry, Paspaley, Tiffany & Co and Gucci.  We expect the prime grade commercial space at 20 Martin Place to appeal to well respected, blue chip organisations who will benefit from the prominent location,” he said.

As part of the refurbishment process, Pembroke is targeting a 5-Star NABERS Base Building Energy Rating and a 5-Star Green Star As-Built Rating. Pembroke is working with local architects Crone Partners and the international team of James Carpenter Design Associates for the project.

Site work is expected be completed in Q3 2015.