- Fivex Commercial Property Media
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Billed as Australia’s most prominent sign, the Fivex-owned signage above the Warringah Freeway in North Sydney is looking for a new tenant for the first time in 15 years.
Currently leased by Bayer, the sign wraps around three sides of the building, owned by private developer Fivex, at 275 Alfred Street, not far from the Sydney Harbour Bridge.
Each façade of the sign is 20.1 metres by 7.6 metres. Beneath the sign more than 150,000 vehicles make the Sydney Harbour Bridge crossing daily.
Almost 90,000 vehicles are going daily through the Sydney Harbour Tunnel.
“This represents a phenomenal branding opportunity on an international scale, reaching tens of millions of commuters every year,” said JLL’s James Palmer, who is handling the leasing.
“Standing above 14 lanes of traffic with zero neighbouring buildings, this is Australia’s most highly valued and sought-after advertising opportunity.”
“Being made available for the first time in 15 years, interest has been significant, coming from a wide range of industry sectors.”
Bayer’s lease finishes in October. Along with the signage rights, come building naming rights as well. Fivex is offering short, medium and long terms. Any leasing deal could be worth in the single-digit millions of dollars.
Fivex, a Sydney-based commercial property investor and developer, has experience with major signage on its assets.
In Melbourne, Fivex won approval for a giant, 42 square metre electronic billboard as part of its redevelopment of a major central business district corner.
That billboard flanks two sides of Riverview House, on the corner of Flinders and Elizabeth Streets.
Nick Lenaghan
AFR 19 September 2016