Real Estate The IIG K5 Property Trust asset

25 King

A brand new A-grade commercial office tower in the heart of the $2.9 billion Brisbane Showgrounds redevelopment.

Published: November 29, 2017

About 25 King

This A-grade commercial office tower, 25 King, boasts innovative design and state-of-the-art technology. It is one of the world’s tallest office buildings made with pioneering engineered timber.

The developer, Lendlease, has delivered an office tower of the highest quality with leading sustainability features. 25 King is the Queensland headquarters of Aurecon, a global engineering and environmental consultancy firm, occupying the building as its anchor tenant for 10 years.

 

  • Designed by award-winning architecture firm Bates Smart and under development by ASX-listed Lendlease;
  • Extensive use of engineered timber, also known as CLT and Glulam, delivers benefits to the environment during development and over the life of the asset;
  • Located in the $2.9 billion mixed use Brisbane Showgrounds. The city’s only mastercrafted precinct, approximately 1500 metres north east of the Brisbane CBD.
  • Well served by multiple transport options; 50 metres to arterial road, 500 metres walk to train interchange, 22 minute train trip from Brisbane International Airport.
  • The Cross River Rail Project, Brisbane’s largest transport infrastructure project worth $5.4 billion, will deliver a new train line to the area.
Asset Type

Commercial Property (Under Development)

Location

25 King St, Bowen Hills, Queensland

Net Lettable Area

15,171 sqm

Car Parking

56 Vehicles

Levels

10 storey

Expected Practical Completion

October 2018

Anchor Tenant

Aurecon (10 year lease, 43.5% of NLA)

Rental Guarantee

5 Years, from Lendlease, over remaining 56.5% of NLA, until first leasing of non-Aurecon area

Grade

A-Grade Accomodation (Property Council of Australia)

Green Star Rating

6 Star Design & As-Built Rating targeted

Acquisition Yield

6.5%

Impact

25 King embodies one of IIG’s key theories of change for real estate – to invest in buildings developed to Australian and world-leading environmental and indoor environment quality standards. This will help to reduce our carbon footprint, promote sustainable cities and communities, and improve health and wellbeing.

Environmental Performance

25 King is expected to achieve 6 Star GreenStar ‘Design and As Built’ ratings, placing it amongst the leading office buildings nationally to reach the highest level of environmentally sustainable design and construction. It is targeted to achieve a 5 Star NABERS energy and 4 Star NABERS water rating. As always, our property team will work closely with all tenants to continuously improve the performance of the building.

Design & Construction

25 King’s construction incorporates innovative engineered timber, cross-laminated timber (CLT) and Glulam, that contain up to 40% less embodied carbon than typical construction materials.

The design maximises connections with the surrounding development through several innovative features and practices, including the incorporation of the ‘Queenslander’ vernacular and references to the historic Royal National Agricultural & Industrial Association pavilions.

Contribution to health & wellbeing

The extensive use of exposed timber in the internal workspaces is intended to produce a natural aesthetic to enhance the health and wellbeing of building occupants. Studies by Planet Ark have identified that wooden interiors contribute to “improvements to a person’s emotional state and level of self-expression, reduced blood pressure, heart rate and stress levels, and improved air quality through humidity moderation.”

Lendlease’s tenancy marketing promotes “a natural aesthetic that enhances health and wellbeing of teams, and ultimately boosts productivity [and] a sense of space and connectedness that infuse the working areas of the building”.