Clifton Development Group says it won’t start an official leasing campaign until prospective tenants can “walk the floors”.
Clifton Development Group has adopted the mantra of “build it, and they will come” after securing a permit for a $60 million carbon-neutral office building in Surry Hills on Sydney’s city fringe.
The developer, spun out of the non-bank lender AltX, intends to begin construction of the six-storey tower at 9-13 Brisbane Street in late September or early October, but will only formally launch a leasing campaign once “tenants can walk the floors” and get a real feel for what is on offer.
A-Grade vacancy rates in Surry Hills are around 2.2 per cent while the suburb’s office rents are comparable with those being paid in the CBD, averaging around $1200 per square metre.“Many people prefer working in Surry Hills than in the CBD. It has a village feel and the city is only a short walk away,” Mr Howard said.that will be carbon-neutral once operational, qualifying it for a coveted 5-star Green Star rating from the Green Building Council.
Design features include louvres that can be opened on each floor to assist with the flow of air, thus reducing the need for air-conditioning and a heating system that Mr Howard said would be 70 per cent more efficient than a traditional one.“Our aim is to achieve a really high environmental rating. This is traditionally not done for boutique buildings as you have to give up too much space to achieve these ratings, but we see value in the trade-off,” Mr Howard said.
Approved plans for the tower include a 68sq m landscaped rooftop terrace “where occupants can gather and socialise”, end-of-trip facilities and parking for 25 bicycles.Once complete in late 2023, Clifton’s intends to retain the building as a long-term investment.writes on real estate, specialising in commercial and residential property. Larry is based in our Melbourne newsroom.
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