60 Union Street, Pyrmont
AFIAA is a Swiss organisation managing Swiss pension schemes with a global reach including numerous property assets in Australia. AFIAA pursues a strategy of sustainable cost leadership and attaches great importance to stable income development.
AFIAA has partnered with CPS to lead and manage the repositioning of their retail and commercial property in Pyrmont, Sydney. 60 Union Street currently known as ‘The Atrium’ is an eight storey tower building with a podium connecting the tower to a 3-storey terrace building. The Atrium is situated in the heart of Pyrmont and is a mix of commercial (16,500sqm) and retail space (3,000sqm) that was built over 10 years ago, specifically for American Express. American Express vacated the premises so an opportunity arose for AFIAA to make investment decisions to future proof the commercial rental return and reposition the building itself in the Pyrmont area.
At the point of CPS’ engagement in September 2016 the scope of works, program and cost was undefined. CPS brought to the table the capability to create a collaborative working environment with the key project members. CPS with the assistance of Savills as leasing and building managers and Custance as project Architects developed a strategy to future-proof the building and presented AFIAA with a feasibility study outlining the development options. In December 2016 AFIAA approved the scheme and detailed design commenced.
Two DA’s have been submitted to date and the project has now reached the construction stage, with a contract awarded for an End of Trip Facility and an upgrade of floors, lift lobbies and amenities. The contract also includes an Early Contractor Involvement Process with the same contractor to finalise the Design Development of the ground floor and lower ground lobbies, aiming to transform the building to an open, inviting and high-end commercial ‘A Grade’ building.
Client: AFIAA Australia Pty Ltd
Location: Pyrmont, Sydney NSW
Service: Project Management