Pacific National, the largest private rail freight company in Australia, has signed for two floors at 2 Blue Street, a ten-storey office building in North Sydney.

The building was formerly known as Blue & William and is owned by Keppel REIT, which purchased the asset in December 2021 while it was still under development. Pacific National will occupy about 3,350 sqm (36,059 sq ft) across the first and second floors of the Grade A office building, which achieved practical completion in April 2023. It was developed by Lendlease, who is also managing the building.

According to Keppel REIT and Lendlease, Pacific National intends to fit-out the workplace and relocate by September 2024.

Read also: Keppel REIT to acquire 50% interest in Sydney office building for A$363.8 mil

“We are pleased to welcome Pacific National which has chosen 2 Blue Street as its new headquarters. Keppel REIT is one of Asia's leading real estate investment trusts with a portfolio of prime commercial assets in Asia Pacific's key business districts. We look forward to continue offering smart, modern and sustainable office spaces that elevate the tenant experience and inspire connections,” says Koh Wee Lih, CEO of the manager.

“We were looking for new office space that would give our people the flexibility to work in a more connected and collaborative way, while also supporting Pacific National’s efforts to reduce its businesses’ environmental footprint. 2 Blue Street ticked every box, offering us everything we were after, and in a great location too,” says Saskia Groen-in’t-woud, chief strategy and sustainability officer of Pacific National.

“The continued strong interest in 2 Blue Street reflects the increasing demand we are seeing across the portfolio for new, high-quality workplaces that offer leading sustainability credentials and the benefits of prime locations, close to transport,” says Tom Mackeller, managing director development of Lendlease.