CBUS appoints Multiplex

22 March 2021

The investment manager of $59 billion industry fund Cbus has appointed Multiplex to construct a $300 million commercial property development in Adelaide.

Cbus Property partnered with the South Australian government to develop a building at 83 Pirie Street in Adelaide’s central business district will have over 30,000 square metres of office space and three levels of car parking to accommodate 110 cars.

The South Australian Department of Planning, Transport and Infrastructure will act as an anchor tenant for the 83 Pirie Street building.

Multiplex will construct the building, which will have a multi-purpose wellness centre for yoga, physical fitness services, conferences, and events. The completion is scheduled by late 2022.

Cbus Property chief executive Adrian Pozzo said the new development will serve up to 3000 office workers and will boost the company’s investment portfolio.

“Responding to a future Adelaide workforce with a focus on sustainability, wellness, connection to the public community, nature and productivity, 83 Pirie is an incredibly exciting project that will optimise the site’s potential and create a new landmark for the city, as well as reinvigorate the city’s office precinct,” Pozzo said.

The property is targeting 5.5 star NABERS Energy and 4 star NABERS Water ratings and a 6 star Green Star Base Building rating.

Multiplex Victoria and South Australia regional manager Graham Cottam said the company is thrilled by be appointed by Cbus Property to complete the project.

“83 Pirie adds to our long-standing presence in South Australia, having delivered $500 million worth of projects in the region over the past 30 years and developed long-standing relationships with the community and local supply chain,” Cottam said.

Cbus Property previously flagged the development last year and said one of its tenants will be the South Australian department of planning, transport, and infrastructure.