Cybersecurity and data backup company Datto will fill the final leasing levels of One Wharf Lane in Sydney's CBD.

The relocation of the company from 15 Castlereagh Street to the 24th and 25th floors of 171 Sussex Street means the building is now 100% leased.

The new tenants will pay about $1.5 million rent annually as part of a deal negotiated by Knight Frank’s Robin Brinkman and Tina Raftopoulos on behalf of the owner, with Chris Retallick of CBRE representing the occupier.

At a glance:

• One Wharf Lane in Sydney's CBD is 100% after tech company Datto was announced as the new tenant of levels 24 and 25.
• The deal was negotiated by Knight Frank’s Robin Brinkman and Tina Raftopoulos on behalf of the owner, with Chris Retallick of CBRE representing the occupier.
• Datto will pay about $1.5 million rent annually.

Mr Brinkman said Datto was attracted to One Wharf Lane’s harbourside location.

“The contemporary, boutique style of the building lends itself to creative style setups, which attracted numerous tech companies looking for a creative and striking space," he said.

"Datto liked the fact they are co-occupying the tower with numerous other IT tenants, including Spotify."

The view of the nearby Hyatt Regency. Source: Knight Frank

He said the recent influx of IT companies into the CBD throughout the past few years reflected a growing trend.

“Sydney is high on the list of locations around the world for companies looking to access the talent that has the potential to advance and implement the next wave of technology," he said.

Statistics from the Property Council of Australia have revealed a further reduction in the overall market vacancy rate in Sydney's CBD from 4.6% to 4.1% in the six months to January 2019, which is well below the 10 year average of 7.3%.

Ms Raftopoulos said the Sydney CBD office market has continued to experience tightening vacancy levels following ongoing positive tenant demand and limited stock additions.

“Currently supply additions are stemming from refurbished backfill space," she said.

"However, as new developments complete we will see an influx of new supply and major refurbishments by 2020, including 60 Martin Place, Daramu House, Wynyard Place, and 320 Pitt Street.”

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