South Eveleigh “groundscraper” The Foundry reaches practical completion

NSW premier Gladys Berejiklian, Commonwealth Bank chief executive officer, Matt Comyn, and Mirvac leader Susan Lloyd-Hurwitz at the socially distanced launch of the building.

South Eveleigh “groundscraper” The Foundry has reached practical completion.

NSW premier Gladys Berejiklian with Matt Comyn, the chief executive officer of Commonwealth Bank of Australia, which will tenant the whole building, attended the socially distanced celebratory launch, yesterday.

Mirvac chief executive officer Susan Lloyd-Hurwitz, on behalf of the development consortium which also includes AMP Capital and Sunsuper, was also there.

The Foundry entrance.

The campus-style office occupies a near island site, towering over Alexandria Childcare Centre on Alexander Street, and with frontage to Henderson and Davy roads, and Central Avenue, about three kilometres south of Sydney’s CBD.

Over six floors there is 55,000 square metres of lettable area built around an atrium.

Floorplates average 9000 square metres – or about 2.25 acres – which is super-sized, and why the developers are marketing The Foundry as Australia’s first “groundscraper” – the term for buildings which spread a substantial part of the ground, rather than the sky.

CBA is planning to accommodate 5500 staff at the new building – including its technology and innovation teams.

The Foundry is Mirvac’s third commercial building at South Eveleigh

The Foundry is the third workplace Mirvac has delivered as part of a technology and innovation focused urban renewal, South Eveleigh, previously known as Australian Technology Park.

Last year the bank moved 4500 staff to Axle – which was the first.

A community centre, Yerrabingin House, is the second completed structure.

The development consortium also intends to renovate the historic two-storey, 25,000 sqm Locomotive Workshops building, which will be tenanted to Top Education and Post Op Group (story continues below).

Upon completion, South Eveleigh will contain nine commercial buildings – including a supermarket – and is expected to accommodate about 18,000 workers.

The precinct is just south of Redfern train station.

CBA has eyed precinct since 2015

The Foundry is set to open in August.

“Five years ago we earmarked South Eveleigh as out our future workplace,” Mr Comyn said. “The move to Axle, and soon to The Foundry, is part of CBA’s long-term investment to innovation, our people and our customers, and commitment to Sydney”.

“Our commitment to the South Eveleigh precinct is driven by a desire to create a workplace that would inspire our team to design leading digital experiences for our customers,” the executive added.

“We know innovation can’t happen in isolation and that’s why we are delighted to be part of the NSW government’s ‘innovation corridor’ and collaborating with educators, entrepreneurs and the community in and around South Eveleigh”.

In a statement the bank said that the design would feature large open areas, hackable spaces (where barriers to collaboration can be removed), and quiet retreat zones for concentrative work.

“CBA has a history of providing leading workplaces for its people,” the bank added.

“Most recently, Axle at South Eveleigh was recognised as providing the best workplace experience in the country and top ten globally by Leesman, an independent authority”.

Both CBA’s Eveleigh offices will be powered by renewable energy.

The Foundry will contain more than 50,000 square metres of lettable office area over six levels around an atrium.
The Foundry is set to open in August.
Commonwealth Bank of Australia plans to move 5500 people into The Foundry.
The design includes hackable areas and zones for private working.
The office is three kilometres south of Sydney’s CBD.

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco