Cbus Property completes $265m office tower in Adelaide
Work is finished on a $265m, 22-level office tower in Adelaide, described as the city’s first all-electric, carbon-neutral office building.
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Cbus Property has completed construction of a 30,000sq m tower in Adelaide, described as the city’s most sustainable office building.
South Australia’s Department for Infrastructure and Transport was secured as an anchor tenant for the $265m project in 2020 and will consolidate several of its CBD sites into the new building at 83 Pirie St.
Cbus Property chief executive Adrian Pozzo said the development represented “the next generation of office design”, featuring a number of sustainability, wellness and technology initiatives.
“This office tower is destined to capture a lot of firsts for Adelaide – the first all-electric, carbon neutral-ready building; the first Platinum WELL v2 pilot pre-certified building; and the first commercial and retail mixed-use building that will not use natural gas,” he said.
Mr Pozzo said the building’s rooftop terrace, a multipurpose wellness centre and the tower’s indoor air quality had helped it secure Platinum status, representing the highest benchmark in a global rating system used to measure how a building’s design contributes to the physical and emotional wellbeing of its occupants.
Designed by Woods Bagot and built by Multiplex, the 22-storey building is also targeting a 5.5-star NABERS Energy rating, with Cbus entering an electricity purchasing arrangement that ensures the base building infrastructure is powered entirely by renewable energy.
DIT has agreed to a 10-year lease at the building, and will occupy about 18,500sq m, with Colliers’ Andrew Beasley and Jeevan Deut handling the leasing of three remaining floors.
Departmental staff will begin moving into the building later this month.
Property Council figures reveal that occupancy levels in Adelaide are among the highest in the country as the impact of Covid-19 subsides, with 64 per cent of CBD workers having returned to their offices.
However, the city’s office vacancy rate is at the higher end, at 14.2 per cent, and it is expected to come under further pressure as a 130,000sq m pipeline of new developments reaches completion over the next three years.
Cbus Property – the property development and investment arm of industry super fund Cbus – is currently on the hunt for tenants to fill 60,000sq m in a $1bn office tower development planned for Bourke St in Melbourne. Earlier this month, the group acquired the remaining 50 per cent stake in its 205 North Quay office project in Brisbane.
It recently achieved net zero carbon status across its office portfolio.
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Originally published as Cbus Property completes $265m office tower in Adelaide
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