Charter Hall secures pre-commitment with UBS at its proposed Chifley South development

Charter Hall Group (Charter Hall or the Group) today announced that it has secured major pre-commitments at its new $2 billion Chifley South development at 2 Chifley Square in Sydney, with global investment bank UBS committing to move its headquarters to the new tower upon completion.

Charter Hall will also relocate its headquarters to Chifley South, bringing the building’s pre-commitment level to approximately 16,000 square metres (sqm) thus far.

Having recently secured unanimous endorsement of its planning proposal by the City of Sydney, Chifley South is set to become one of the City’s most prominent and forward-looking buildings, sitting within the highly reputable Chifley Precinct and adjacent to the existing tower, Chifley North.

The development will incorporate leading sustainability features including a commitment to Climate Active Carbon Neutral certification for Chifley South and a commitment to enabling the Chifley Precinct to operate entirely from renewable energy, aligned with Charter Hall’s commitment to being net zero emissions in operations by 2030 and the ESG objectives of many of its investors, partners and tenant customers, including UBS.

Other best-in-class features will include smart building technology, modern health and hygiene solutions, and wellbeing certification, which prioritises human health and wellness.

Charter Hall Managing Director and Group CEO, David Harrison, said, “This pre-commitment from UBS demonstrates the optimism in the future of the workplace, underpinned by our track record in delivering world-class buildings that are tailored to meet the long-term needs of our tenant customers. Retaining UBS as a tenant customer in the Chifley Precinct and securing them as an anchor tenant in the new Chifley South tower is a significant vote of confidence in our proposal and our active partnerships. We are thrilled to continue to work closely with the UBS team to deliver a bespoke new headquarters that will serve their people for many years to come.

“We also look forward to relocating from our current headquarters to Chifley South which will help us deliver an even more collaborative and innovative space for our people as we continue to grow each year. Having been involved with this site for decades, I believe Chifley represents the preeminent commercial site in Australian CBD markets, sitting atop the hill of Sydney CBD with expansive views across Sydney’s beautiful parks and harbour. It will be enhanced as an icon within the Sydney CBD and will enhance the City’s skyline.”

UBS Australasia Joint Country Head, Nick Hughes, said, “UBS has a long history of more than 80 years in the Australian market and the Chifley Precinct has been home to us in Sydney for over 15 years. As the largest tenant at the existing tower at 2 Chifley Square, we are pleased to be remaining within the Chifley Precinct while providing our people with a new workplace that is specifically designed to enable them to grow and thrive.”

Charter Hall Office CEO, Carmel Hourigan, said, “As our cities re-emerge and businesses bring their people back to the CBD, there has been a clear flight to quality and this level of pre-commitment during our planning stage is evidence of that trend. Large corporates across Australia are recognising the value of a state-of-the-art workplace in driving productivity, attracting and retaining talent, ensuring health and wellbeing of their people, and fostering culture. We continue to work closely with our partners, investors and tenant customers to deliver places that create mutual success and contribute to our communities.”

Charter Hall’s planning proposal is currently progressing through the NSW Government’s Gateway Determination process, which will be followed by a design competition and a detailed development application process.