Real estate investor and manager, Cromwell Property Group (Cromwell), has commenced an extensive end-of-trip (EOT) facility refurbishment programme at 400 George Street in Brisbane. The works will be carried out over a 13-week period and is due to complete in early May.
Cromwell acquired 400 George Street in August 2019 for $524.75 million, in what was Brisbane’s largest office transaction for the year. The 35-level building was constructed in 2009 with a total net lettable area of 43,978 sqm spread across office, retail and childcare. A 4.27-year WALE and 96.6% occupancy rate is underpinned by blue-chip corporate and State and Federal Government tenants.
Upon completion, the EOT facility will be best-in-class and will include the addition of 200 new and secure bike parking spaces, e-bike charging ports, 530 new lockers, 26 showers and a full DDA-compliant bathroom. High quality appliances from GHD and Dyson will complement the high-end, luxury finishes and green wall, which balance functional requirements with a bespoke space that is occupant-focused.
Cromwell’s Head of Property, Bobby Binning, commented, “400 George Street is already one of the Brisbane CBD’s most sought-after locations, attributable to its prestigious North Quarter location, access to amenity and outstanding environmental credentials.”
“However, the need to continually invest in and improve the tenant-customer experience, particularly given the impact of COVID-19 and social distancing requirements, is more important now than ever.”
“As employees continue to migrate back to CBD’s, we believe this refurbishment programme will position 400 George Street at the forefront of design in a post-COVID world. Touchless entry doors are just one new aspect being installed as we adjust to our new ‘normal’”, concluded Mr Binning.
The building’s sustainability credentials include a 5.5-Star NABERS Energy, 4.0-Star NABERS Water and 6.0-Star NABERS Indoor Environment rating, as well as a 5.0-Star Green Star As-Built rating.