Green light for Chifley South tower
Charter Hall and GIC have been given the green light to develop a 38 level premium grade office over a six storey podium at 2 Chifley Square, a 6438 square metre site once owned by Alan Bond.
The permission comes nearly a year since UBS agreed to lease a chunk of the 64,000 sqm tower.
Combined with a commitment by Charter Hall, a quarter of the asset is accounted for.
Construction is not expected for at least two years; a final design still needs to proceed to gazettal and a design excellent competition.
“Achieving endorsement from City of Sydney [on Monday night] is a significant milestone for Charter Hall, our investors and tenant customers, and reinforces Sydney’s reputation as an innovative and leading global city,” Charter Hall Office chief executive officer, Carmel Hourigan, said.
“This decision reflects confidence in Charter Hall’s vision for the Chifley precinct to encourage the return to workplaces where collaboration, mutual success and our wellbeing thrives,” she added.
“The flight to quality, as demonstrated in our pre-commitment leases, is how high-performance businesses are attracting and maintaining the highest calibre professionals and ultimately, driving success,” according to the executive.
Charter Hall’s Prime Office Fund purchased the 2 Chifley Sq freehold for $98.5m in 2018.
It also co-controls the leasehold as it does for the neighbouring Gresham Building at 167 Macquarie Street (story continues below).
Offices on track to replace Goldfingers
Meanwhile in Melbourne, Michael Argyrou’s Hickory has been granted the final permission required to replace the former Goldfingers strip club with a 22 storey, 24,000 sqm office.
The owner amended an application which was approved by the state planning minister last October, when Charter Hall was a partner in the project.
That revision has now been accepted.
At the north east corner of King and Lonsdale streets, the proposal will restore much of the c1915 art nouveau former Kilkenny Inn hotel with retail.
The design also contains 57 car parks, end-of-trip facilities and a wellness centre.
Colliers’ Daniel Wolman sold the 1750 sqm block making way for the project last year.
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