AustralianSuper will be joining other tenants including Vanguard, the Uniting Church, and the recently formed Australian Financial Complaints Authority (AFCA) in the premium grade office building at 130 Lonsdale Street.
AustralianSuper Chief Executive, Ian Silk said, “AustralianSuper is very pleased to be moving into the Wesley Place development. It’s an exciting time for us and we look forward to continuing on our mission of providing members with their best possible retirement outcome when we are in our new location.”
Charter Hall Managing Director and CEO, David Harrison said, “We are pleased to welcome yet another preeminent super fund and high calibre tenant customer to our portfolio, with AustralianSuper worth $165 billion in member assets and home to 2.3 million members.”
Harrison added that the lease to AustralianSuper follows earlier commitments from Telstra Super and Cbus Super at Wesley Place, in addition to Q Super’s 17,200 square metres in the Group’s flagship Brisbane Square tower. This brings the total premium office space occupied by Australian superannuation funds in the Group’s properties to over 50,000 square metres.
130 Lonsdale Street is a 35-storey premium grade workplace offering 55,000 square metres of office space. The building includes 4 skyrise terraces designed to bring more natural elements to the building and can be used for outdoor team meetings or social functions. In addition to being part of the vibrant retail and lifestyle precinct of Wesley Place, 130 Lonsdale Street also includes meeting spaces, premium end of trip facilities, as well as a concierge and lobby café. A wellness centre and childcare facilities will also be available in the Wesley Place precinct for the benefit of employees.
With sustainability being a key part of Charter Hall’s vision for the Wesley Place precinct, the Group is aiming for a 6 Star Green Star, 5 Star NABERS rating, and a Platinum WELL certification for 130 Lonsdale Street.
Located near the corner of Exhibition and Lonsdale Streets, the Wesley Place precinct covers 1.1 Hectares, and will comprise of 110,000 square metres of technology-oriented workplaces across 3 buildings – 130, 140 and 150 Lonsdale Street. Wesley Place will also include public greenspaces and leading retail and culinary offerings. The Wesley Place precinct is set to become a business precinct that blends innovation, technology, heritage and lifestyle together.
In November last year, Charter Hall’s Regional Development Director, Simon Stockfeld commented on the 130 Lonsdale Street development: “Our working and social lives are increasingly intertwined. That’s why we’re creating forward thinking workspaces, that are smart, agile and offer a diverse destination where both businesses and the wider public can use and enjoy the space.”
Regarding AustralianSuper’s new lease, Simon Stockfeld commented, “We welcome AustralianSuper to Wesley Place, which will provide unrivalled access to amenities and transport, making it an attractive proposition for all of our pre-commitment tenant customers. This milestone leasing announcement reinforces Wesley Place as a prime office location for industry-leading organisations.”
CPOF Fund Manager, Matthew Brown, said, “Leasing 100% of the office space at 130 Lonsdale Street some 10 months ahead of practical completion demonstrates the Fund’s ability to deliver enhanced returns to investors through the successful execution of its strategy to develop core assets. The depth of our development capabilities, with experienced teams based in each major capital city, means we collaborate with our tenant customers to deliver them great workplace solutions.”
“At completion, Wesley Place will further enhance CPOF’s existing high-quality office portfolio and deliver sustainable income returns for investors from long-term leases and quality tenant covenants,” added Brown.
AustralianSuper’s lease covers approximately 16,200 square metres across the Skyrise Levels of 130 Lonsdale Street and will commence in the second half of 2020.
Stuart Colquhoun from JLL and Peter Birrell from Corporate Real Estate Advisory advised Charter Hall and AustralianSuper respectively.
Construction of 130 Lonsdale Street is underway, with an expected completion in the second quarter of 2020. The first stage of the Wesley Place precinct is also set for completion in mid-2020.
Cover Image: 130 Lonsdale Street features 4 levels of cascading sky terraces. (Image: Charter Hall)