This article is from the Australian Property Journal archive
CONSTRUCTION has kicked off at an old car park site in the heart of Townsville’s CBD, which will make way for a newly announced carbon-neutral A-grade office building by Melbourne-based Castlerock.
The 6,500 sqm building at 158 Walker Street is expected to be completed by mid-2026.
The project will be Castlerock’s first carbon-neutral building, and boast a 6-star NABERS energy rating, a 5.5-star NABERS water rating, and a 4-star Green Star rating. The building will incorporate a range of advanced green technologies, such as a minimum of 99kW solar array on the rooftop.
Castlerock will install a highly efficient air-conditioning and lighting system to ensure optimal energy usage, with all systems remotely monitored and controlled from Castlerock’s Melbourne office. The building will also harvest rainwater and reuse water from its mechanical services for toilet flushing.
End-of-trip facilities will feature 46 secure bike racks, showers, and locker facilities. The building will also provide 107 secure car parking bays.
There will be about 200 sqm of retail space at ground level, including a café. Castlerock is currently seeking an operator to partner with for this new facility.
Castlerock already has a key presence in Townsville, with 158 Walker Street following on from their 445 Flinders Street tower, acquired for nearly $93 million in 2020, which was purpose built for and is occupied by the Queensland state government.
Hank Bronts, CEO and Founder of Castlerock said, “The new building will enhance our already robust and successful Castlerock Government Property Fun, reinforcing our reputation for providing high-quality government-leased assets.
Townsville Mayor Troy Thompson said the project was a strong example of what the future of Townsville could look like.
“As a Council we’re thrilled to have supported this innovative project with our Housing and Jobs Incentive Policy, helping to drive investment in Townsville’s city and surrounds. As one of Australia’s fastest growing regional cities we’re always looking for ways to improve the city for the residents we have now as well as our growing population in the future.”
This development will join the Castlerock Government Property Fund upon completion. The Fund currently has a forecast distribution rate of 7.85% and comprises $525 million across 13 buildings, with 96% leased by either state or Commonwealth governments.
