Cbus’ $1 billion commercial tower at 435 Bourke Street in Melbourne’s CBD has gained approval from the Victorian Department of Environment, Land, Water, and Planning (DELWP).
The 435 Bourke commercial precinct, an extension of the previously authorised Bates Smart-designed skyscraper, would include four properties at the intersection of Bourke and Queen streets: 140 and 150 Queen Street, 27 McKillop Street, and 423 Bourke Street. Work on demolition has already begun.
The structure, to be known as 435 Bourke, was architecturally designed by Bates Smart firm. It will establish a new standard for sustainable office development and architecture as one of the first office towers in the world to have a “solar skin” exterior.
Adrian Pozzo, Chief Executive Officer of Cbus Property said the design was rejigged in the face of the pandemic.
“In response to evolving workplace conditions in the wake of the global COVID-19 pandemic, we have worked diligently with Bates Smart to future-proof the design of 435 Bourke,” Pozzo said.
“With people now accustomed to working in informal settings, the industry-defining sky garden, ground plane and mixed-mode terraces will set a new benchmark for diverse and naturally ventilated extensions of traditional workspaces.
“Having encountered COVID and two years of lockdowns, particularly in Victoria, we felt the next reiteration of product is all about getting people back to the office.
“As we do with all our designs, you’re always thinking that the next step will be, COVID’s brought forward the whole thought process forward in a big way.”
Pozzo said the company is not thinking of necessarily convincing workers to come back to the office but accommodating the new way of thinking of how they want to work.
In the office leasing campaign, Colliers is representing Cbus Property, and negotiations with multiple prospective tenants are now underway.
According to Andrew Beasley, national director for office leasing, high-quality buildings like 435 Bourke will help firms both retain their existing talent pool and recruit new and rising talent.
Another important factor is sustainability. Pozzo said climate and sustainability was not only important to Cbus, but the tenants themselves.
“You can call it a flight to quality, you can call it employee wellbeing,” he said.
“If we’re pitching a tenant now, it’s used to be about tenants finding new talent, now it’s about also retention of existing talent, in addition to finding new talent.
“We’re trying to create a one stop shop that has all that within the office tower. You don’t have to live on level five, between the hours of eight and five, you can have a couple of hours upstairs in the in the open space and breathe some fresh air and meet some people.”
435 Bourke is also intended to achieve nett zero carbon (in operation), with 20 per cent of its all-electric base building electricity requirements generated on site by its solar skin design. This is in keeping with Cbus Property’s commitment to nett zero carbon (in operation) across its office portfolio, which was achieved in early 2022. Off-site renewable electricity will be used to power the remaining portions of the structure. The solar-skin façade will produce 20 per cent of the power for the building.
A Platinum WELL certified rating and a 6 Star Green Star New Buildings rating are further goals for 435 Bourke.
The demolition of 27 McKillop Street, 140 and 150 Queen Street, and 423 Bourke Street is now under process. The construction is expected to be finished in 2026.