Reuters: Financial Services and Real Estate: Macquarie to move HQ, defies trend to stay in city centre

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Macquarie to move HQ, defies trend to stay in city centre Mar 29th 2012, 02:58 SYDNEY, March 29 | Wed Mar 28, 2012 10:58pm EDT SYDNEY, March 29 (Reuters) - Australia's Macquarie Group plans to relocate its headquarters in 2014 to a heritage building in Martin Place, in Sydney's commercial centre, after reaching a deal to buy the property from the Commonwealth Bank of Australia. The financial terms of the deal were not disclosed. The move by Macquarie comes as Australia's other major banks are moving out of Martin Place, the traditional home for the banking industry, to consolidate their offices in bigger and newer buildings, often on the fringes of the city. Macquarie, Australia's only listed investment bank, said in a statement that it had also agreed to buy another building on nearby Elizabeth Street from the Commonwealth Bank. Macquarie currently rents office space at No. 1 Martin Place, which is owned by Charter Hall Office REIT and a syndicate managed by Charter Hall. The lease there matures between December 2014 and December 2016.

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