Investa Office Fund (IOF) is leading the rejuvenation of the Sydney CBD with the completion of its next-generation A-grade commercial office and retail space at Barrack Place, 151 Clarence Street.
The Barrack Place tower occupies 23 storeys and provides 22,000 square metres of office and retail space and claims Australia’s first ever WELL Core & Shell Gold Pre-certification by the International WELL Building Institute™ (IWBI™), as well as a 6-star Green Star and targeted 5-star NABERS Energy rating.
It is the only prime grade Sydney CBD office development completed in 2018 and is substantially leased at completion, with high profile tenants Arup, Mills Oakley, Pfizer and Washington H Soul Pattinson already fully committed.
IOF Fund Manager, Penny Ransom said Barrack Place exceeded benchmarks set for commercial space in the city with its sustainability, integrated technology and architectural design.
“Barrack Place is a highly advanced building in its class, enlivened with smart technology and vibrant retail as well as a host of new sustainability features,” she said.
“It sets a new benchmark for office development in Sydney and the market has responded, with 93 per cent of space now fully committed with a weighted average lease expiry of 9.6 years. This is a reflection of the outstanding design and features of the building, as well as its strategic location between Martin Place and Barangaroo.”
Group Executive & Head of Commercial Development at Investa, said the development is the first to mandate an end-to-end integrated digital delivery process for a commercial office building in Sydney, resulting in the creation of a physical and operational ‘Digital Twin’ of the asset.
“Over a period of six months, and with a visit to the International WELL Building Institute™ in New York, we were able to negotiate landmark changes that allowed our vision for the modern workplace to come to fruition.”
“As a result, we’ve positioned Barrack Place and the broader Australian market as a strong leader in technology and health and wellness standards of new commercial office developments,” he finalised.
Designed by Architectus, the building’s wellness and technology features include Bluetooth entry, 50 per cent more end-of-trip (EOT) facilities, luxurious residential-style amenities such as feature mirrors and lighting, advanced air filtration and natural lighting considerations, all aimed at fostering a modern, healthy workplace environment.
Barrack Place is one of the first buildings to utilise smart sensor technology in all its lighting, which can reduce electricity costs by up to 78 per cent, while providing heat mapped space utilisation insights. The building also incorporates UV lamps to kill microbes and mold, while extensive greenery in the foyer areas and terrace spaces create a seamless connection with the natural environment, which has been proven to contribute to feelings of calmness and wellbeing during the working day.
These benefits are enhanced further by the optimised design of the floorplate, where the building core is located to the south, with all lifts, amenities and service risers. The flexibility of the floorplate has allowed tenants to create inter-tenancy stair connections, while a light well cut into the north end of the floorplate draws in natural light.
Importantly, Barrack Place pays homage to the site’s industrial warehouse heritage with its custom brick facade, black steel detailing and laneways. For the first time in over 60 years, this will provide a direct thoroughfare from the city’s Martin Place district to Darling Harbour and Barangaroo. The newly created, ground-level laneways will create a bustling culture of bars and cafes, with retailers expected to move in from October.
More information can be found here.