Charter Hall secures Telstra and Accolade Wines as tenants in city towers

Telstra will move 1000 staff to the city’s largest office building when it’s completed in 2023, while Accolade Wines has made a move into the CBD.

Artist's impressions of Telstra’s new offices at 60 King William St. Supplied by Telstra

Charter Hall has secured Telstra and Accolade Wines as tenants in two of its CBD office towers.

Telstra will relocate its Adelaide headquarters to the group’s new $450m office tower at 60 King William St, which is due for completion in 2023, while Accolade has already shifted more than 160 staff to the GPO Exchange tower on Franklin St.

Telstra has signed a 10-year lease for 6000sq m across two levels of the King William St building, joining anchor tenant Services Australia, which will occupy 28,500sqm.

It leaves just 4500sqm to be filled in what will become Adelaide’s largest office building by area.

Telstra property transaction principal Doug Hall said the new flexible space would feature a mix of collaboration zones, meeting rooms and an open-air meeting space, with desks that staff can book on demand.

Accolade Wines head of HR, supply chain and operations ANZ Tracey Eyers with head of procurement Craig Schmidtke at the company's new offices in the GPO Exchange building. Picture: Keryn Stevens

“Telstra’s Adelaide home has been at 30 Pirie St since the late 1980s. This will be an opportunity for Telstra to put into place an office of the future, based on hybrid and flexible working and with spaces for true collaboration and team interaction,” he said.

“Before Covid, our people were already working from home about two days a week and they’re now telling us they will probably look to work from home three to four days a week.

“Our new Adelaide office will showcase the future of hybrid work, where our people can come together for training, collaboration, and connection rather than the more traditional model of 9-to-5 desk work.”

Telstra employs around 1000 staff in Adelaide and currently occupies more than 10,000sq m on Pirie St.

Charter Hall office chief executive Carmel Hourigan said the deal built on Telstra’s relationship with Charter Hall, with the company currently occupying Charter Hall managed premises in Melbourne, Sydney, and Brisbane.

Artist's impressions of Telstra’s office space at 60 King William St. Supplied by Telstra

Meanwhile, Accolade staff departed the company’s historic home in Reynella last week to take up the 10th floor, or 1500sqm, in GPO Exchange.

Accolade head of legal Jason Duldig said the move supported the company’s efforts to attract and retain top talent.

“We see this as a huge step forward for our culture, to move into a new modern space,” he said.

“It’s a significant investment in our new employee proposition, and one example of the company’s many recent investments in South Australia.

“Over the last year, Accolade Wines has invested more than $50m in capital expenditure projects, the vast majority in South Australia, with plans to exceed this investment this financial year.”

Accolade sold the former Hardy’s winery site in Old Reynella, which served as its corporate headquarters, in 2016.

Acquirer Tarac Properties is planning a $100m-plus housing estate as part of a broader mixed-use redevelopment.

The site was first established as a vineyard by pioneer settler John Reynell in 1838, and it remains home to several heritage items.

Accolade’s move into the CBD was supported by the Adelaide Economic Development Agency (AEDA) through its Welcome to Adelaide pilot program, which according to AEDA managing director Ian Hill, offers a range of benefits to businesses operating in the city and their staff.

“We want to work with organisations to help them take advantage of everything the city has to offer,” he said.

“From introductory offers at UParks, Adelaide Aquatic Centre, Rundle Mall and North Adelaide Golf Course, to a foyer pop-up with the Adelaide Central Market, and facilitating staff connection to key services around the city.”

Telstra was advised by Michael Greene of JLL, while Charter Hall was advised by Tom Budarick of JLL and Andrew Bahr of CBRE.