Cbus Property welcomes global law firm to 435 Bourke Street, Melbourne

MARCH 2024

BAKER MCKENZIE TO JOIN COMMONWEALTH BANK AT $1 BILLION WORLD-CLASS OFFICE TOWER

Global law firm, Baker McKenzie, has committed to leasing approximately 3,600 square metres of office space at national award-winning integrated property investor and developer Cbus Property’s latest commercial office development, 435 Bourke Street, in Melbourne’s CBD.

Baker McKenzie has signed an Agreement for Lease on levels 36 to 38 in the $1 billion next-generation office tower.

Cbus Property’s Chief Executive Officer, Adrian Pozzo, said the wholly owned entity of Cbus Super was delighted to welcome Baker McKenzie to 435 Bourke Street, saying the building’s focus on sustainability, nature, wellness and connection to the community aligned with what the firm was looking for in a new workplace.

“Baker McKenzie’s commitment to 435 Bourke Street is driven by a desire to provide their employees with access to best-in-class amenity and sustainability credentials in an outstanding centralised location,” he said.

“Cbus Property is also in discussions with other prospective tenant partners that recognise the focus and future of work has changed. These tenants can see the inherent value in relocating to an office development of the unparalleled calibre of 435 Bourke Street, underpinned by an extraordinary integrated hospitality precinct overseen by one of Australia’s best restaurateurs.

“These businesses understand that 435 Bourke is a pioneer project for the city, that it is responding to a future Melbourne workforce and delivering on their aspirational requirements for a broad diversity of workspaces, world-leading sustainable design and premium on-site amenity.”

Baker McKenzie will join the Commonwealth Bank of Australia’s future Melbourne head office at 435 Bourke Street, with CBA committing to lease 15,000 square metres from levels one to eight.

Mr Pozzo said 435 Bourke Street’s state-of-the-art services and technology would underpin its tenant partners’ aspirations for their employees to have an authentic connection to the workplace.

“Our vision is to create another world-class commercial building that represents Cbus Property’s leadership in resilient and sustainable people-centric development, while enabling a diversity of experiences and working environments that respond and adapt to dynamic and evolving customer requirements,” he said.

“Our acute awareness of the need to deliver an exceptional user experience to support all of our future customers means we are also focused on the social value of the places we deliver.”

Architecturally designed by the internationally acclaimed Bates Smart, 435 Bourke Street will set an incredible new standard for sustainable office development and design, being one of the first office towers in the world to feature a ‘solar skin’ facade.

In line with Cbus Property’s sustainability strategy, the development is designed to achieve net zero carbon (in operation), with approximately 20 per cent of its all-electric base building electricity requirements generated on site by its solar skin design. The balance of the building will be powered by off-site renewable electricity, in keeping with the balance of Cbus Property’s office portfolio, which achieved net zero carbon (in operation) in early 2022.

435 Bourke Street is also targeting a 6 Star Green Star New Buildings rating and a Platinum WELL certified rating, representing global leadership under these benchmark tools.

“435 Bourke Street is Cbus Property’s flagship development for the evolution of sustainable design and workplace, targeting industry leadership is all aspects of sustainability, decarbonisation, health and wellbeing, community, resilience and environmental efficiency,” Mr Pozzo said.

“We are targeting an exceptional 40 per cent reduction in upfront embodied carbon, one of the highest reduction targets for a commercial office building in Australia to date. We will achieve this by utilising new low-carbon building products and materials and innovative construction processes, such as HVO100 biodiesel for the site’s machinery.”

435 Bourke Street will comprise approximately 60,000 square metres of premium office space across 48 levels, 1,300 square metres of retail space and 116 car parks, as well as a sky garden accessible to all tenants. Several landscaped open-air or mixed-mode terraces will capture 360-degree views across Melbourne from the top six levels.

Currently under construction by Multiplex on the corner of Bourke and Queen streets, it is anticipated for completion in late 2026. Approximately 3,500 jobs are anticipated to be created on site throughout the construction journey, with up to 300 workers on site each day during the peak construction period.