Commercial & Industrial Property News Update

Australia - 8 Chifley Square To Add 19,000 sq m Premium Office Space To Sydney CBD

October 1, 2012

The 34-storey office tower is expected to be completed in August next year.

More than 19,000 sq m of new premium office supply will be added to the Sydney CBD in less than a year, taking the form of a landmark office tower standing at 34 storeys high.

The project, 8 Chifley Square, has completed main structural works, announced joint owners Mirvac Group and K-REIT Asia.

"We are proud to be delivering a building of this calibre that will set a benchmark for the city's premium grade office towers. I would like to thank everyone who has been involved in creating this unique building, from planning and design, through to the latest construction phase," said Brett Draffen, Chief Executive Officer for Development at Mirvac.

Upon its completion, 8 Chifley Square will offer 91,100 sq m of net lettable area. The property is designed by architects, Rogers Stirk Harbour + Partners, together with Lippmann Partnership.

Ng Hsueh Ling, Chief Executive Officer of K-REIT Asia Management said, "We are pleased with the development progress of 8 Chifley and look forward to its completion which will complement our existing portfolio of environmentally sustainable premium grade office assets."

8 Chifley Square was awarded the 6 Star Green Star-Design Office v2 certified rating in March for its slew of green features designed to reduce carbon emission and energy consumption. Mirvac is seeking to fortify the project's green credentials with a 5 Star NABERS rating.

Another unique feature of the office tower is its Sky Villages, multi-level working environments "created through a series of voids that vertically integrates up to three floors allowing for a variety of configurations that promote interaction between individuals." There will be seven of such Sky Villages in total housed within the building, spanning between 1,800 sq m to 2,650 sq m (two- and three-storey), separated by single floors for flexibility and growth.

"Mirvac is proud to be offering a building of this calibre to Sydney. Leading organisations are seeking functional quality offices that enable a sense of connectivity between staff, and this is what 8 Chifley will be delivering," said Andrew Butler, CEO Investment of Mirvac.

With its innovative design, 8 Chifley Square has attracted strong levels of inquiries, with law firm Corrs Chambers Westgarth pre-committing to more than 40% of the space at the building.

Tags: Business space, Office for rent, Income properties

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