Cbus Property tops out at landmark 435 Bourke Street, as Commonwealth Bank commences occupation

Major construction milestone reached as $1 billion next-generation workplace comes to life in Melbourne’s CBD

APRIL 2026

National award-winning integrated property investor and developer Cbus Property has reached a major construction milestone at 435 Bourke Street, Melbourne, with the project officially topping out and achieving practical completion for the first stage (Separable Portion 1 (SP1)).

Architecturally designed by Bates Smart and under construction by Multiplex, 435 Bourke Street’s completion has been highly anticipated since the project broke ground with demolition works in May 2022. Set to redefine the future of office in Australia with its next-generation design, the $1 billion landmark tower will feature one of the world’s first solar skin facades.

The topping out marks a significant step in the delivery of one of Melbourne CBD’s most important commercial developments, bringing the city closer to a new benchmark in premium, sustainable workplace design.

Cbus Property’s newly appointed Chief Executive Officer, Chris Kakoufas, said the milestone reflected the strength of the partnerships behind the project, while reinforcing confidence in Melbourne’s long-term economic future and office outlook.

Cbus Property’s Chief Executive Officer, Chris Kaokufas

“Topping out and achieving SP1 at 435 Bourke Street is a major milestone for the project team and all partners involved in bringing this city-defining office tower to life,” Mr Kakoufas said.

“It is also an important moment for Melbourne, signalling continued investment in the CBD and the delivery of world-class workplaces that will help attract talent, businesses and activity back into the city centre.”

Multiplex’s Regional Managing Director for Victoria and South Australia, Ross Snowball, echoed Mr Kakoufas’ sentiments, saying the partnership between Multiplex and Cbus Property was “built on 20 years of success”.

Multiplex’s Regional Managing Director of Victoria and South Australia, Ross Snowball

“Our enduring partnership reflects our long-term alignment and mutual focus on innovation, safety and quality,” Mr Snowball said.

“435 Bourke Street is already setting benchmarks for sustainable commercial development in Melbourne and we are proud to see it enhance the city’s skyline.”

The milestone coincides with anchor tenant, Commonwealth Bank of Australia (CBA), commencing its occupation of its new Melbourne workplace, with teams relocating from mid-May 2026.

CBA will ultimately occupy approximately 19,000 square metres across levels one to 11, delivered via an integrated fitout designed to support collaboration, flexibility and overall employee experience, with a significant focus on sustainability.

“We are very pleased to welcome CBA as it begins transitioning its Melbourne workforce into the building, marking the start of 435 Bourke Street becoming a vibrant, fully operational workplace – a surreal moment we envisioned when we acquired the site almost a decade ago,” Mr Kakoufas said.

“CBA is focused on providing our people with high-quality, innovative workplace environments that support how we work and serve our customers and communities,” CBA’s Executive General Manager for Group Corporate Services, Jennifer Saiz, said.

“435 Bourke Street symbolises our commitment to Melbourne, as well as our investment in the local economy and in more sustainable buildings. In addition to the benchmarks that the 435 Bourke Street development will set in terms of sustainable office development and design, CBA’s own workplace fitout is targeting additional sustainability goals, making this our most sustainable workplace to date.”

Renowned Australian hospitality group, Lucas Collective, is set to introduce two new signature dining venues to the 435 Bourke Street retail offering from October 2026, further reinforcing its role in shaping Melbourne’s next chapter of city dining.

Leading the opening is Wishbone, an all-day, Hong Kong-inspired eatery designed to bring energy, accessibility and repeat appeal to the precinct. A second, yet-to-be-announced concept will deliver a more elevated and complementary experience.

Wishbone chef Dan Chan and Chris Lucas

“Midtown has always been a defining part of Melbourne’s dining culture and there’s a real opportunity to reimagine what it can be for a new era of the city,” hospitality entrepreneur, Christopher Lucas, said.

Upon practical completion of the second stage (SP2) later this year, 435 Bourke Street will deliver approximately 62,000 square metres of premium office space across 48 levels, complemented by 1,300 square metres of bespoke retail space, 117 car parks and an industry-defining sky garden accessible to all tenants. Several landscaped open-air and mixed-mode terraces are positioned throughout the tower, while the upper six levels offer sweeping 360-degree views across Melbourne.

Sweeping 360-degree views across Melbourne

In line with Cbus Property’s commitment to net zero carbon (in operation), 435 Bourke Street’s pioneering solar skin will generate up to 20 per cent of the base building’s energy on site and, supported by an off-site renewable electricity agreement, power the all-electric building with 100 per cent renewable electricity.

The development is targeting the industry’s highest levels of sustainable design and is on track to achieve a 6 Star Green Star New Buildings certified rating, representing world leadership in sustainable design. It is also targeting a highly energy-efficient 5.5-star NABERS Energy (Base Building, Design) rating and Platinum WELL V2 pre-certification, recognising world excellence in health and wellbeing outcomes for the people who will work at 435 Bourke Street.

“Together, these credentials reinforce 435 Bourke Street’s position as an incredible new benchmark for sustainable commercial design, delivering strong outcomes for our communities and CBUS Super members,” Mr Kakoufas said.

Construction is progressing toward full completion in late 2026. By completion, approximately 3,500 jobs are expected to have been created on site, with an average of 300 workers on site each day and up to 490 workers on site during peak construction periods.

Colliers is representing Cbus Property in the office leasing campaign, with limited high-rise floors and the wellness mezzanine remaining.

Please contact Colliers’ Regional Director for Office Leasing, Andrew Beasley, on 0412 066 288 and National Director for Office Leasing, Milly Stockdale, on 0438 044 906 for further information.