Centuria opens new $40m office building in Adelaide

A new “post-Covid” $40m office building has opened in Adelaide’s CBD, with the designers trying to replicate what people love about working from home.

Centuria has opened a new $40m office building in Adelaide’s CBD, after securing tenants for 80 per cent of the available space.

Construction company Hindmarsh, Cox Architecture, engineering firm WGA, insurance company Zurich and Australian Public Affairs (APA) all signed leases in the 4600sq m building ahead of its opening last week.

The six-storey A-grade building features retractable glass facade panels, a rooftop BBQ entertaining terrace and “hotel-style” end-of-trip facilities, and has been designed to 5-star Green Star and 5.5-star NABERS Energy ratings.

Centuria head of office Grant Nichols said the building had been designed to cater to the demands of corporate tenants and their staff that emerged in the wake of Covid-19.

“In this post-pandemic environment, we had a unique opportunity to provide the local market with office accommodation that is most in demand and it seems our 670sq m floor-plates have hit the mark,” he said.

The rooftop terrace at Centuria new office building at 57 Wyatt St. Picture: Supplied by Centuria

“More importantly, we listened to occupiers’ needs in regard to attracting and retaining workers back into office accommodation, to facilitate productivity and collaboration.

“While table-tennis, hammocks and slides between floors are fun, they aren’t conducive to productivity.

“We took into consideration what people like about working from home – access to fresh air, quiet spaces, being able to sit in the sunshine or eating alfresco during the lunch hour. We believe these are the simple measure that can facilitate an efficient and effective worker.”

Centuria’s pure-play office fund, Centuria Office REIT, will take ownership of the building, which adjoins another of the company’s office buildings at 80 Flinders St.

The front of Centuria new office building at 57 Wyatt St. Picture: Supplied by Centuria

Sustainability features include facade treatments to reduce solar glare and electricity-only provisions, while about 90 per cent of building waste was diverted from landfill during construction which was led by Hindmarsh.

CBRE’s Andrew Bahr and Georgia Turner, and JLL’s Tom Budarick and Victoria Everett have been appointed to lease the remaining office space available in the building.

Mr Nichols said the building’s mid-sized floor-plates would appeal to smaller tenants in the market, pointing to CBRE figures which show 70 per cent of office leasing enquiries were currently from tenants seeking up to 500sq m of accommodation.

Centuria head of development Andre Bali said the boutique development had been designed to integrate “sympathetically” with the surrounding heritage architecture.

“Previously, it was a modest on-grade car park that contributed little to the wider fabric of the surrounding business and hospitality neighbourhood,” he said.

“It was a simple decision to add value to the site with this boutique office development.”

Centuria oversees a $641m portfolio of six office towers in Adelaide, including 50 per cent stakes in the “Black Stump” at 25 Grenfell St, and Bendigo and Adelaide Bank’s headquarters at 80 Grenfell St.