The country’s largest timber building will call Brisbane home in a deal worth $140 million between developer Lendlease and the Liberman family-backed Impact Investment Group.
Known as 5 King, the property will be one the final projects to be delivered in the $2.9 billion renewal of the Brisbane Showgrounds precinct in Fortitude Valley.
Standing at more than 52 metres, the 14,000 square metres of nine storeys of engineered timber on the A-grade site, with retail space at ground level, is targeting a 6 Green Star Design & As Built rating.
It will eclipse the Forte timber apartment building in Melbourne’s Docklands by four storeys and well overshadow the six-storey International House Sydney at Barangaroo, all of which were developed by Lendlease.
It was designed by Bates Smart, whose director, Philip Vivian, said timber buildings are seen as the next generation of workplace “for a creative class looking for rich environments that enhance wellbeing and productivity”.
Lendlease chief executive property Australia Kylie Rampa said 5 King is the latest example of high-performance workplaces “setting new benchmarks in environmentally sustainable building practices”.
“The office building will offer tenants the opportunity to generate significant business benefits through large, efficient floorplates that provide flexibility for a variety of modern workplace formats,” Ms Rampa said.
The appeal of buildings made from engineered timber are that they have a lower carbon footprint than other building materials. The production process produces zero waste, and timbers are sourced from certified sustainably-managed forests. They also produce less CO2 during ongoing operation.