Cromwell welcomes Qantas decision

Real estate investor and manager, Cromwell Property Group (ASX:CMW) (Cromwell), today welcomed the announcement by Qantas Group that it was retaining the Qantas Global Headquarters, which employs more than 3,500 people, in Mascot, Sydney.

Cromwell is the property landlord for the 48,000 sqm world-class campus facility which comprises four interlinked buildings strategically positioned near Sydney Airport. The airport is Australia’s international gateway and an essential part of the nation’s transport network, connecting to more than 90 destinations worldwide.

Cromwell’s Head of Property Bobby Binning commented: “The quality of the existing campus facility, its proximity to Sydney Airport and ability to provide a world-class working environment for a highly-skilled workforce makes this a logical decision.”

“I would particularly like to thank the NSW State Government team on their submission and achieving this excellent outcome.”

“We look forward to continuing our long-standing relationship with Qantas through the duration of their lease, which runs until 2032,” he concluded.

ABOUT QANTAS GLOBAL HEADQUARTERS

Qantas Global Headquarters is a campus-style facility located in Mascot near Sydney Airport. It accommodates a large and diverse workforce and features an auditorium, end-of-trip facilities, as well as conference, training and retail spaces and a covered atrium linking four office buildings.

Cromwell originally acquired the site in 2010, subsequently commencing a three-year $131 million refurbishment. The project involved transforming the site from an outdated, inefficient group of buildings with limited connectivity into a high utility, campus-style facility with significant improvements to energy efficiency and amenity.

As part of the project, the campus was connected to a purpose-built 9MW trigeneration plant, delivered under an energy supply agreement that provides 100% of electrical power as well as chilled water and heating for the Heating, Ventilation and Air Conditioning (HVAC) system plant. High-efficiency lighting and water saving devices were installed leading to significant reductions in energy and water consumption and a 5.5-Star NABERS Energy Rating.