Charter Hall Gets Green Light for $2 Billion Chifley Square Project

“This year there has been an encouraging eight-fold increase from 7 percent occupancy in January to 55 percent in May, with now a small decline due to environmental pressures,” Achterstraat said.

Charter Hall office development chief Mark Stante said the Chifley development aligns strongly with the NSW Government and the City of Sydney’s employment and sustainability goals, contributing to the city’s target of over 100,000 additional jobs.


Upon completion, the tower will boast the highest green star credentials, including electrification of the entire Chifley precinct, allowing it to operate entirely on renewable energy. Charter Hall is also targeting Climate Active carbon neutrality certification for the new building.

The Charter Hall Prime Office Fund (CPOF) originally purchased freehold of the 2 Chifley Square precinct for $98.5 million in 2018 and is also one of the owners of the lease. The wholesale fund also owns the leasing interest in the adjoining Gresham Building at 167 Macquarie Street.

The city’s director of planning, development and transport, Graham Jahn, said the City of Sydney’s approval follows community consultation and the Gateway determination, granted by the NSW government in February.

He called the project a “positive” for the CBD, adding that it was a good response to the Central Sydney Planning Strategy, in terms of energy and jobs, as well as contributing to the post-COVID-19 stimulus.

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