Cbus Property unveils $300m office project in Adelaide
Developer Cbus Property has unveiled plans for a $300 million commercial project in the heart of Adelaide’s CBD which it says will become "a landmark addition to Adelaide’s skyline."
Located on the corner of Pirie Street and Freemasons Lane - on the former Planet Nightclub site - the 17-storey building has been designed by Woods Bagot who have employed a restrained approach to the architecture - complementing the existing streetscape and nearby heritage buildings.
According to Cbus Property, 83 Pirie Street responds to the the strong market demand for new, A-Grade commercial workspace in Adelaide, introducing approximately 30,000 sqm of A-grade office space into what has been dubbed the new Central Lifestyle District (CLD) of Adelaide.
With an eye firmly on the future, 83 Pirie has been designed to provide large, flexible floorplates of 1,750 sqm to meet the demands of a "contemporary and future-looking workforce". These floors can be merged to create vertical communities, with a strong emphasis on collaborative 'third spaces', which include a 300 sqm landscaped rooftop terrace and an onsite well-being lifestyle centre.
83 Pirie's central location provides tenants with easy access to Adelaide's traditional commercial district, as well as lifestyle amenity such as Rundle Mall and Hindmarsh Square park, which are only a few minutes walk away.
The development has been designed with an activated ground plane that includes 365 sqm of retail - further adding to Adelaide's emerging laneway culture - while the introduction of street level setbacks will contribute to a pedestrian-friendly experience. Connectivity and walkability in the area will also be improved via the key north-south pedestrian axis of Freemasons Lane and Flinders Link.
83 Pirie Street adds to Cbus Property's expanding project pipeline across Australia, with a number of commercial office projects under development in Melbourne including Collins Arch, 311 Spencer Street and 435 Bourke Street.
Cbus Property expects construction of 83 Pirie to commence once a pre-commitment is secured, with an expected construction programme of two years.
What they say...
“There is a distinct lack of supply for contiguous new built commercial stock in Adelaide’s city centre. This demand is driven by positive employment rates and sustained spending across defence, renewable energy and technology sectors, including the implementation of the 10 Gigabyte Adelaide initiative, which indicates demand will only increase.
We recognise that the workplace is changing and tenant requirements are evolving so it was an ideal opportunity to create a new benchmark for office design in Adelaide. Tenants are not only looking for
innovative workspaces that offer flexibility and foster a collaborative and engaging work environment but also leading design incorporating innovative technology, sustainability and wellness initiatives which is exactly what 83 Pirie will deliver”
- Adrian Pozzo, Cbus Property CEO
“The arrival of 83 Pirie to the Adelaide market symbolises a new era for the commercial sector in the Adelaide CBD. Over the past few years, we have seen an increased appetite from domestic institutional developers and investors in Adelaide, which was once traditionally dominated by private developers.
The shift from private to institutional investment has created new standards for building design and architecture and with only two new buildings to be completed this year and new supply for 2020 unlikely, tenant demand is strong. This combined with 83 Pirie’s highly efficient 1,750 square metres side core floorplates and exceptional views from the upper floors will appeal to a high calibre of commercial tenants, spanning major corporates and state and federal government.
Ideally located in the heart of Adelaide, Pirie Street has unrivalled links to culture and lifestyle amenity, including popular eateries, which has seen it become known as the CLD. While it has a strong lifestyle offering, Pirie Street still remains an important part of the commercial district with corporate occupiers keen to have proximity to other professional service firms, car parking stations and the nearby retail amenity."
- Andrew Beasley, National Director of Office Leasing at Colliers International
“83 Pirie’s bold form echoes the low-rise and heritage fabric of the high street architecture. Elevated above the podium, the tower rises to take its place in the city skyline, with repetition of angled glass panels across the façade creating an elegant and sophisticated design aesthetic. The tower will make an enormous contribution to the social and economic fabric of the precinct and our great city.”
- Thomas Masullo, Director, Woods Bagot