First look at Mirvac and CBA’s future at Australian Technology Park

28 February 2017

Publication: The Australian Financial Review
Author: Su-Lin-Tan
Date: 28 February 2017

First look at Mirvac and CBA’s future at Australian Technology Park

The Australian Technology Park offices for Commonwealth Bank being developed by Mirvac.
Mirvac has unveiled the first close-up images of the Commonwealth Bank of Australia’s future home at the $1 billion Australian Technology Park redevelopment in inner-city Sydney.
Deep in construction phase, Mirvac will produce three buildings for CBA – Buildings 1 and 2, which will boast the largest office floor plates in the country at 5500 to 8600 square metres; and Building 3, which will become CBA’s “pavilion building” hosting community and childcare floors.
Building 1, which will have a curved exterior and nine floors, will be completed in 2019. There will also be two floors or parking. The second building, the bigger five-storey property with a large atrium, will be completed in 2020.
Together they will yield about 93,000 square metres of commercial space and host 10,000 CBA employees. CBA will lease the assets for 15 years.
The design of the redevelopment has been a collaborative effort between Mirvac and CBA, as well as with architects from FJMT and Sissons.
Mirvac had won the hotly contested tender to buy the Australian Technology Park from the NSW government for $263 million in late 2015, with CBA in tow. The design of the redevelopment has been a collaborative effort between the two as well as with architects from FJMT and Sissons.
“We don’t want it to be a business park,” Mirvac general manager of commercial development Simon Healy said.
“We will keep the inside roads [as opposed to handing them over to a council] and activate all the spaces.”
CBA and any other ancillary tenants at the precinct, serviced by Redfern train station, will be required to chip into a management fund for the upkeep of internal roads, public areas and green spaces, Mr Healy said.
The development of the heritage former rail yard is familiar work to Mirvac, which also transformed another locomotive property in Harold Park, Glebe, the Tramsheds.
The Australian Technology Park will consist of three building with a combined 93,000 square metres of commercial space.
At ATP, Mirvac will also preserve and maintain the 130-year-old Eveleigh Works – home to the most significant collection of Victorian blacksmithing machinery in the world – with a possibility of turning part of it into a museum for the public.
Mirvac will construct retail laneways, open to the public, and shared with Centuria, which also owns several buildings at the precinct including the one leased to Channel 7.

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