Charter Hall progresses Chifley South tower plans with Development Application lodgement

Charter Hall Group (Charter Hall or the Group) is pleased to announce that it has made progress on its plans for Chifley South, having lodged a Development Application (DA) with the City of Sydney that features a contemporary building design by Bates Smart.

This marks a significant milestone for Chifley South, which upon completion will deliver a premium-grade net lettable area of over 50,000 square metres (sqm), plus an enhanced podium amenity and a reactivated public domain at Chifley Square.

Reaffirming the pre-eminent status of the Chifley office precinct, stand-out features of the building design include:

• a contemporary building that provides a striking new addition to the CBD,
• a design that seamlessly integrates at the ground level through a reimagined podium that will provide the next generation of onsite amenity including retail, third spaces and world-class wellness facilities,
• tenant-centric workplace solutions to cater for the highest levels of tenant flexibility and workplace efficiency, such as mixed-mode workspaces with access to fresh air, dedicated tenant hub, business lounge and wellness offerings,
• expansive access to natural light and views to the Royal Botanic Gardens, the Domain and Sydney Harbour,
• exemplar sustainability features, including targeting a 6-Star Green Star Buildings v1 rating, that will support Chifley in realising Climate Active Carbon Neutral certification in line with the City of Sydney’s Net Zero Strategy,
• and a ‘designing with Country’ approach that is integrated with the architecture and the urban landscape of the site and its surroundings.

Charter Hall Managing Director and Group CEO, David Harrison, said, “This development is set to re-energise the iconic Chifley precinct and contribute to the vibrancy of the Sydney CBD. We look forward to partnering with Bates Smart and the City of Sydney to deliver a world-class building that provides a next-generation workplace and supports Sydney’s role as Australia’s leading global city.

“As reflected in the DA, Chifley South will deliver the highest standard for environmental and social sustainability, security, smart technology, and wellbeing. Designed to meet the demands of our tenant customers, the development will foster collaboration, innovation, and efficiency, while our precinct strategy ensures a reinvigorated public domain, anchoring the business community in the heart of the financial CBD.”

The Bates Smart design team said, “2 Chifley Square is a distinguished address that makes a positive contribution to the city skyline. Our design creates an urban ensemble with Chifley North tower that simultaneously complements and respects it, while being clearly of the 21^st century in terms of people amenity, workplace, and environmental performance. The new integrated ground-plane has a new double-height arcade between Bent Street and Hunter Street that opens the podium to the city with a sense of civic generosity. At the heart of this precinct is a centrally-located Urban Room that connects the grand entry lobby, business lounge, wellness, and retail spaces.”

With pre-leasing activities well underway, Chifley South already has over 16,000sqm pre-committed with international investment bank UBS and Charter Hall secured as future occupants.

Charter Hall Office CEO, Carmel Hourigan, said, “We are confident that Chifley South will deliver on its leasing potential, with limited competition from new buildings planned in the Sydney CBD between 2024 and 2027. We continue to see a growing appetite for new, premium office buildings in line with the strong bifurcation of the office market, and Chifley South will be well-positioned to absorb that demand.”

Upon completion, the Chifley precinct will provide over 110,000sqm of state-of-the-art office accommodation in total.

In line with the Group’s commitment to achieving Net Zero by 2025, Charter Hall’s focus on sustainability extends to the entire Chifley precinct. This includes the electrification and upgrade of the existing Chifley North tower through the removal of the existing gas-fired plant equipment, and both towers to operate entirely on renewable energy.

Enabling works have already commenced, with construction of the main tower expected to start in early 2024. An estimated 1,500 jobs will be created in the construction phase. Upon completion, the end value of precinct is estimated to be $4 billion.