The long-anticipated move by internet giant Google to the Bays precinct, Sydney, is a step closer with the developers, UrbanGrowth NSW, revealing the two groups are in talks over a potential lease.
Google has been looking in the Sydney market for new space for many years with a mandate said to be as much as 100,000 square metres.
Google leases space in two buildings at Pyrmont, being 48 Pirrama Road, and 1 Darling Island Road, which is also the headquarters of Fairfax Media, the publisher of the Sydney Morning Herald, but which it is quickly outgrowing.
Its potential move to White Bay was first revealed in BusinessDay in January 2015.
UrbanGrowth NSW is the master developer of the White Bay Power Station precinct, and is working with the private sector to transform the Power Station and its surrounds to deliver a global centre for high-tech jobs and innovation.
UrbanGrowth NSW intends to break the precinct into separate parcels of land in a staged development to attract a diverse range of developers and tenants, and the initial focus will be on repurposing the Power Station building.
"UrbanGrowth NSW is negotiating directly with Google Australia Pty Ltd in relation to the redevelopment of the Power Station building," UrbanGrowth says on its website.
A Google spokesman did not comment any potential deal.
The possible move, once the Bays precinct is redeveloped, reflects the growth in stature and demand of the tech industry for office accommodation within a central business district or on the inner-city fringes.
