Property Australia

Multiplex completes Quay Quarter Tower

PROPERTY AUSTRALIA April 26, 2022

Multiplex has finished construction of AMP Capital's landmark property known as Quay Quarter Tower, revealing the iconic new 50-storey Premium grade office skyscraper at 50 Bridge Street.

Over a 4 year period, AMP Capital turned an existing 45-year-old 45,000 square metre office building into an 89,000 square metre world-class, highly sustainable commercial skyscraper and catalyst for the revitalisation of Circular Quay's harbour front.

Quay Quarter Tower, which comprises 89,000 square metres of premium grade commercial office space and a 4,000 square metre retail podium, has received an 89 per cent pre-leasing commitment from Deloitte, Corrs Chambers Westgarth, AMP and AMP Capital, EQT, Johnson Winter & Slattery, and The Work Project.

According to Multiplex, some 35,000 people worked on the project throughout the 4 year construction timeframe.

Quay Quarter Sydney is an 11,000 square metre precinct spanning 2 city blocks that includes the 26-level commercial office tower at 33 Alfred Street and Quay Quarter Lanes, a mixed-use residential, commercial, and retail laneway network featuring 104 apartments and 2 levels of retail across 3 separate new buildings, as well as the refurbishment of heritage wool stores, Hinchcliff House, and the Gallipoli Memorial Club.

AMP Capital Wholesale Office Fund and Dexus Wholesale Property Fund hold the complex jointly. Following completion, Rest Super will possess a one-third stake in the asset.

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The creation of a facility with considerable environmental and operational savings was critical to AMP Capital. The upcycling and retention of the building's core, combined with materials and other considerations, conserved more than 8,000 tonnes of embodied carbon, a world-first for an office skyscraper of this magnitude.

Quay Quarter Tower has significant sustainability credentials, including a Green Building Council of Australia 6 Star Green Star Office Design v3 accreditation for its novel environmental features and vertical village design, which optimises the existing building's embodied energy and resources. A 5.5 Star NABERS Office Energy Rating Base Building, a 4 Star NABERS Office Water Rating Base Building, and WELL certification are among the other environmental ratings.

According to AMP Capital Global Head of Real Estate Kylie O'Connor, Quay Quarter Tower is a model for future metropolitan neighbourhoods that promote community and involvement among employees, residents, and tourists.

“Quay Quarter Tower will truly further Sydney’s vision and credentials as a global, and green, city and the timing couldn’t be better for breathing new life into one of the oldest parts of the Sydney CBD,” Ms O’Connor said.

The building's striking "jenga-like" design comprises five shifting glass volumes stacked upon each other and punctuated by atrium space, delivering expansive views of Sydney Harbour while maximising natural light deep into the floorplates. It was designed by leading Danish architects 3XN in collaboration with Australian architectural firm BVN.

“We are thrilled to complete Quay Quarter Tower. It is undeniably the most complex build ever undertaken in Australia and embodies true innovation and a range of engineering feats, while also setting new standards in both Australian and global construction methodologies,” said David Ghannoum, Regional Managing Director at Multiplex.