Charter Hall tops out $1.8b Chifley South tower
Charter Hall’s 37-storey Chifley South tower has topped out.
The 52,000 square metre office is also about 60 per cent committed.
Built this week completed 45 structural levels, including basement, podium, tower and roof levels, after construction began in early 2024.
More than 4800 workers have been inducted to the project, and about 1.7 million hours worked.
Construction has involved placing 37,000 cubic metres of concrete and installing more than 5000 tonnes of reinforcement.
The tower is being built alongside the operational Chifley North building, requiring digital engineering and site-capture technology to coordinate the new and existing structures.
It is due for completion in September, 2027.
Earlier this week realestatesource.com.au reported Charter Hall was weighing development options at the nearby David Jones Castlereagh St store, which it bought in late 2020 for $510m with a 20-year leaseback.
Chifley South
The $1.8 billion Chifley North and South development is one of few major office projects underway in the Sydney CBD.
The latest commitments comprise more than 10,000 sqm of additional commercial and retail space, including a full-floor lease to Landmark Group and expansions by existing pre-committed tenants UBS and Charter Hall.
They add to earlier commitments from UBS and Charter Hall, which initially secured about 16,000 sqm, and law firm Gilbert + Tobin, which took 9000 sqm across the tower’s top seven floors.
Chifley South’s ground floor has been rented to two eateries: Applejack Hospitality to open RAFI CBD, and Kadlia Group, behind Kazan, which is planning a Japanese fine-dining restaurant (continues below).
Charter Hall managing director and group chief executive David Harrison said the development reflected the group’s confidence in demand for high-quality workplaces in global gateway cities.
$4b project
Chifley South is a fully electric building designed to target a 6-Star Green Star rating.
Construction initiatives have included electric concrete pumping equipment and renewable diesel.
More than 18,000 tonnes of demolition and construction material has been diverted from landfill, representing a recycling rate of about 96 pc, according to Built.
Chifley North and South, with a combined end value of about c$4 billion, and owned by a wholesale partnership managed by Charter Hall Group.
Opposite Martin Place Metro Station, with the future Hunter Street Station also set to improve connectivity across the CBD, the completed precinct is expected to accommodate up to 10,000 workers.
Charter Hall Office chief executive and institutional client services head Carmel Hourigan said the topping out marked a milestone in the broader precinct transformation.
“The addition of Landmark Group and leading hospitality operators Applejack and Kadlia Group reflects the strong appeal of the revitalised Chifley precinct and our vision to create a world-class destination that brings together premium workplaces, hospitality and amenity,” according to the executive.
Built chief executive of construction David Paterson added the project involved complex construction alongside an existing operational environment.
“We’re proud to partner with Charter Hall once again on another landmark project and look forward to progressing the tower through its next stages toward completion,” he said.
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