Arthrex Australia will take up 1,565 sqm of space in Frenchs Forest, as the North Shore and Northern Beaches continues to thrive with major hospitals and critical infrastructure supporting the evolving and dynamic medical precinct. JLL Director  Office Leasing (North Sydney) Francesco Princi brokered the five-year lease.

JLL’s Director of Office Leasing (North Sydney) – Francesco Princi brokered the five-year lease for 20 Rodborough Road on behalf of Irongate Group at a rate of $370 per sqm and with the completion of this transaction takes the occupancy of the building to approximately 98 percent.

Mr Princi said, “Arthrex Australia, a global medical device company and leader in new product development and medical education in orthopaedics wanted to locate to the Northern Beaches and focus on a premium offering within the market fit for a medical device corporation.”

Throughout 2020, JLL Research recorded only 13 new leases signed (>1,000sqm) across the four markets, including North Sydney, Chatswood, Macquarie Park and St Leonards, with the average lease being 2,500 sqm in size across the North Shore.

Mr Princi said the North Shore is growing as a healthcare hub, “We are seeing growth in health infrastructure across the North Shore and this is attracting health-related tenants to look to move into the area,” he said.

The Northern Beaches Hospital, located in Frenchs Forest is a brand new, purpose-built facility, providing a wide range of services and is the primary hospital for the Northern Beaches, marking Frenchs Forest as a primary hotspot for medical tenants seeking office space within close proximity to the hospital.

One of the larger office markets in the North Shore is Macquarie Park, which is located approximately 16km south-west from Frenches Forest. Throughout the past two decades a cluster of healthcare (pharmaceutical), technology, and professional services firms has formed in Macquarie Park. The anchor tenants of Macquarie Park are also large multinational corporations. PwC produces an annual report (June 2020) ranking the top 100 companies in the world by market capitalisation. JLL Research found that 14 of the top 100 companies by market capitalisation have a footprint in Macquarie Park, and a large portion of these firms were from the Health Care industry sector.