Cbus Property secures 50 per cent stake in landmark Halo tower site

Cbus Property to partner with Milligan Group on joint venture to deliver next-generation office tower in Sydney’s CBD
National award-winning integrated property investor and developer, Cbus Property, has entered into an agreement to acquire a 50 per cent interest in the landmark Halo office tower site in Sydney’s CBD.

The wholly owned entity of Cbus Super will partner with Australian property developer, Milligan Group, to jointly deliver the renowned corner site at 15 – 25 Hunter Street and 105 – 107 Pitt Street, which has been envisioned as a world-leading timber hybrid skyscraper.
Cbus Property and Milligan Group are currently working with Multiplex under an Early Contractor Involvement (ECI) agreement.

“This acquisition is a strong reflection of our strategy to secure well-located commercial assets that respond to future customer demand,” Cbus Property’s Chief Executive Officer, Adrian Pozzo, said.

“It supports our portfolio reweighting to Sydney and continues our track record of delivering high-quality developments that capture market uplift through timing and delivery excellence.”

Mr Pozzo went on to say that the business was pleased to play a pivotal role in advancing one of Sydney’s most ambitious commercial developments.

“Halo represents an incredible opportunity to contribute to the renewal of Sydney’s CBD with a landmark building that sets new benchmarks for sustainability, design and workplace experience,” he said.

“Our investment in the project reflects Cbus Property’s confidence in the long-term strength of the Sydney office market, as well as our commitment to delivering premium, future-focused workplaces for our stakeholders and tenant customers.”

Milligan Group has been working collaboratively with the City of Sydney to progress the project to date.
“Halo is widely recognised as an ambitious project that has the potential to redefine sustainability, design and workplace experience in Australia,” Milligan Group’s Managing Director, James Milligan, said.

“Cbus Property’s involvement will ensure the project benefits from the company’s proven track record in delivering complex, large-scale developments in partnership with leading industry participants.

“Our partnership with Cbus Property and Multiplex reflects Milligan Group’s collaborative approach and commitment to delivering exceptional outcomes for our prospective tenants, investors and the broader Sydney community.”

Once complete, the proposed development is expected to set a new global benchmark as the world’s tallest hybrid timber building. Designed as a 100 per cent all-electric tower, it will target a 6 Star Green Star Buildings v1 rating and a 5.5 Star NABERS Energy rating, achieving a 25 per cent improvement on current standards. An extensive facade-integrated building-integrated photovoltaic (BiPV) system will further enhance the project’s industry-leading sustainability credentials.

Tipped to redefine the workplace experience in Sydney and shape the future of the city’s CBD, Halo will deliver approximately 42,000 square metres of next-generation office and retail space, with tenant enquiry already strong for its innovative workplace design and amenity.

On the corner of Hunter and Pitt streets, the primely located Halo tower will have direct access to the new Hunter Street Metro station and proximity to Martin Place, Circular Quay and Sydney Harbour.

Construction of the main works is anticipated to begin in late 2026, with practical completion targeting Q1 2030, during a period when it is anticipated there will be very limited new premium-grade office supply in Sydney’s CBD.