The spectacular restoration of one of Sydney’s most loved sandstone buildings, 5 Martin Place, has taken out the RLB Australian Development of the Year for 2017.
Dexus and Cbus Property were presented with the development industry’s most coveted prize at the Property Council of Australia / Rider Levett Bucknall Innovation and Excellence Awards in Sydney on Friday 5 May.
“This significant heritage restoration project has delivered one of the most inspired and innovative commercial workspaces in Australia,” says the Property Council’s Chief Executive Ken Morrison.
Built in 1913 as the headquarters of the Commonwealth Bank of Australia, 5 Martin Place was among the first in the world to use an advanced structural steel frame in its construction.
Protecting the building’s heritage required clever design solutions, including a cantilever over the existing building which supports the new tower above.
“5 Martin Place’s 5 Star Green Star rating demonstrates how older buildings can be upgraded to meet new sustainability standards. And by breathing new life into the streetscape below, and investing in public art, Dexus and Cbus Property have enhanced one of Australia’s most important gathering places.”
5 Martin Place also took home the SAS International Award for Best Office Development and the Clean Energy Finance Corporation Award for Best Sustainable Development – Existing Buildings.
Mr Morrison says the quality of entries for this year’s awards was “astounding” and reflect the industry’s commitment to “pushing the innovation envelope”.
Another heritage project, the $80 million restoration of Western Australia’s State Buildings Perth, won the S4B Studio Award for Best Heritage Development.
With a history spanning more than 140 years, the three interconnected buildings had been vacant for almost 20 years before they were purchased by FJM Property and transformed into vibrant hospitality and retail precinct, and the home of luxury 48-suite hotel COMO: The Treasury.
“This project has restored an important part of Western Australia’s history, returning it to the people of Perth and creating a world-class destination,” Mr Morrison says.
Image courtesy of TKD Architects