This article is from the Australian Property Journal archive
AFTER securing Australian Retirement Trust as a new tenant at its Brisbane Square property, Charter Hall will undertake sustainability upgrades at the site.
The new eight-year lease will see the newly formed super fund make its Queensland headquarters at 266 George Street in the Brisbane CBD, at the asset owned by Charter Hall’s Brisbane Square Wholesale Fund (BSWF) and the Charter Hall Prime Office Fund (CPOF).
The tenancy will see the top two floors of the building made home to Australian Retirement Trust from late-2022, bringing the A-grade asset up to 100% occupancy.
Australian Retirement Trust is now one of the country’s largest super funds, following the merger between QSuper and Sunsuper. The fund now boasts more than two million members, which it manages more than $230 billion in retirement savings for.
“We keep our members at the heart of every decision we make and consolidating our office footprint, from multiple buildings across Milton and Eagle Street in Brisbane’s CBD, is in the best interest of our members,” said Bernard Reilly, CEO of Australian Retirement Trust.
Reilly added that the new headquarters would enable the trust to host more members and encourage greater connection between the community and its team, while at the same time increasing the group’s sustainability.
“Ways of working have changed post-pandemic and the design of our new workplace embraces a flexible and inclusive approach. Having our Brisbane-based people in one centralised office will enhance collaboration, innovation and connection,” said Reilly.
Before the new tenant moves in BSWF and CPOF will undertake upgrades to the asset, boosting sustainability ratings in order to better align with Australian Retirement Trust’s commitment to acting as an “enduring force for good”.
Brisbane Square already boasts relatively strong sustainability certifications, including a 5 Star NABERS Energy rating, but with a current 4 NABERS Water in place, the upgrades will target a 4.5 Star rating.
“We are pleased to extend our partnership with our valued tenant customer, Australian Retirement Trust, to provide a value-add solution at Brisbane Square,” said David Harrison, managing director and Group CEO of Charter Hall.
“We are seeing a flight-to-quality, where as-built premium office buildings with excellent amenities, large floor plates and four sides of natural light and views, are attracting and retaining high-quality customers who recognise the value of a shared workspace for their people to collaborate and thrive.”
Brisbane Square will also see its lobby reimagined, with Charter Hall and Australian Retirement Trust co-creating the new space with BVN Architects. The design will also aim to feature collaborations with First Nations artists.
“As a fund open to all Australians, 266 George Street provides the space for our people to join as one team, as we strive to serve our two million members,” concluded Reilly.
