Heritage icon takes home top honour

Heritage icon takes home top honourThe spectacular restoration of one of Sydney’s most loved sandstone buildings, 5 Martin Place, has taken industry’s most coveted prize and show why reimagining heritage buildings can be commercially viable.Dexus and Cbus Property were presented with the RLB Australian Development of the Year at the Property Council of Australia / Rider Levett Bucknall Innovation and Excellence Awards on Friday 5 May.”This significant heritage restoration project has delivered one of the most inspired and innovative commercial workspaces in Australia,” says the Property Council’s chief executive Ken Morrison.Built in 1913 as the headquarters of the Commonwealth Bank of Australia, 5 Martin Place was among the first in the world to use an advanced structural steel frame in its construction.Paul Oates, head of development at Dexus, is delighted with the win, and says it recognises the project team’s vision from the early stages, as well as their “expertise and capability”.”A heritage building doesn’t necessarily mean an impediment to the development of a contemporary workspace,” Oates adds.”Reimagining and adaptive reuse of heritage buildings can create unique spaces that are both functional, inspiring and commercially viable.”Adrian Pozzo, Cbus Property’s chief executive officer, says the ‘Money Box’ building has held a “special place in many people’s hearts” as one of “children’s first memories of the banking system”.The redevelopment has filled a “missing void in the streetscape”, he says, with retail services at ground level enhancing the retail offering in Martin Place.5 Martin Place also took home the SAS International Award for Best Office Development and the Clean Energy Finance Corporation Award for Best Sustainable Development – Existing Buildings.Protecting the building’s heritage required clever design solutions, including a cantilever over the existing building which supports the new tower above.Despite the complex structural engineering required, the building has achieved 5 Star Green Star ratings for design and construction, and a 5 star NABERS Energy rating.Morrison says the green ratings “demonstrate how older buildings can be upgraded to meet new sustainability standards”.During construction, 95.7 per cent of total demolition and construction waste was recycled – a massive 23,740 tonnes. By retaining the existing structure and facade, the project team reduced the need for new steelworks, cutting around 5,800 tonnes of greenhouse gas emissions. Salvaged materials removed from building – like timber doors and marble panelling – were incorporated into the new design wherever possible.The wellbeing of building occupants was also enhanced with better indoor air quality, providing at least 1 per cent more outside air than required under the Australian standard.5 Martin Place has also embraced the City of Sydney’s bike standards by accommodating more than 200 bicycle racks and associated end-of-bike trip facilities, including a bicycle repair service.Oates says the building’s retail offerings were developed within the “wider context” of the revitalisation of the Martin Place precinct. “Together with the lobby providing a through site link, the retail has activated Rowe Street, Pitt Street and Martin Place,” Oates says.”By breathing new life into the streetscape below, and investing in public art, Dexus and Cbus Property have enhanced one of Australia’s most important gathering places,” Morrison concludes.