Lendlease and Impact Investment Group signed an agreement, which involved the development of the largest timber building in Australia. Under the $140 million deal, the structure named “5 King Street” will be 45 meters feet high. The tower is among of the various developments that form part of the renewal of Brisbane Showgrounds precinct located in Fortitude Valley, a project which is worth a whopping $2.9 billion.
The lead engineer of the project will be Aurecon. The company will also open up and office at the tower’s anchor once it is finished. It leased about 6,500 square meters of office space for 10 years. Meanwhile, Bates Smart took the task of designing the structure. The main materials that will be used for its construction are cross-laminated timber and glue-laminated timber. They are both known for their durability and resiliency compared to other conventional construction materials like concrete and steel. These timbers will also be acquired from a certified sustainably-managed forest. The actual process of building the structure will also produce zero-waste. Once completed, the tower will produce low carbon footprint than other regular buildings within the area.
Bates Smart Director Philip Vivian lauded the emergence of timber buildings and said that they are the next generation commercial spaces. Workplaces that are made from these sustainable materials do not only help protect the environment but also aids in the improvement of their employees’ wellbeing and productivity. Lendlease Chief Executive Property Australia Kylie Rampa echoed a similar level of optimism. Rampa said the “5 King” has the potential to be one of these day’s high-performance offices. He also thinks that the timber office tower will set the bar higher when it comes to the development of eco-friendly and sustainable structures. The 10-storey building will cover a total of 15,000 square meters of space. Retailers can also set up shop by leasing a space on the building’s ground floor. Apart from this, the developer of this tower aims to get a 6 Green Star Design & As Built rating.
According to The Sydney Morning Herald, 5 King will beat Melbourne’s Forte timber apartment and Barangaroo’s six-storey International House Sydney. These two structures were also developed by Lendlease. The money involved in constructing this structure is no joke. Good thing, IIG has agreed to fund its development. In return for financially backing the development, IIG will take full ownership of the tower once it is completed next year. IIG firmly believes that Brisbane’s demand for A-grade office spaces will continue to soar especially in areas like the Fortitude Valley and Urban Regen. In an interview with The Fifth State, Lock also said that the company is committed to creating structures that do not only help protect the environment but also offer great value to the community and its investors.
Several industry experts and real estate developers are advocating the use of timber to build all sorts of structures particularly high-rise buildings. Among these professionals who called for companies to use such a material was Dr. Philip Oldfield of the University of New South Wales. Oldfield presented remarkable opportunities on using climate, culture, and context to create gorgeous building designs. It also encouraged the use of eco-friendly materials and reinvention of towers in the country, as reported by Eco-Business. The Urban Developer reported that Australia has begun to acknowledge the advantages of using this alternative and many developers have already integrated timber into their developments.