Lendlease and Liberman-family backed Impact Investment Group agreed on a $140 million project that would see the rise of Australia’s largest timber building in Brisbane. The 45-meter tall structure, which has been named “5 King Street,” is part of the $2.9 billion worth of projects that are in line for the renewal of the Brisbane Showgrounds precinct in Fortitude Valley.
The project’s lead engineer is Aurecon, which also signed a 10-year deal to occupy 6,500 square meters at the tower’s anchor. Meanwhile, Bates Smart made the design of the timber building. Based on their idea, the building would be created out of cross-laminated timber and glue-laminated timber. These building materials are renowned for their durability, efficiency, and eco-friendliness compared to their traditional counterparts like concrete and steel. Apart from all these great characteristics, these timbers would also be obtained from a certified sustainably-managed forest. In addition to that, its production process will create no waste at all. Furthermore, the building is expected to yield lower carbon footprint than other buildings created out of traditional materials.
Philip Vivian, the Director of Bates Smart, said structures made of Timber would be the next generation of officers supporting and improving employee wellbeing and productivity. The tower, which aims to secure a 6 Green Star Design &As Built rating, would cover a total space of 15,000 square meters and will be comprised of 10 floors. On the other hand, Lendlease Chief Executive Property Australia Kylie Rampa believed that 5 King would be one of the most innovative high-performance workplaces. Rampa believes that this timber building would establish a new set of standards for buildings that are environmentally friendly and sustainable.
The proposed structure is expected to defeat two of Lendlease’s former projects. According to The Sydney Morning Herald, the “5 King Street” would be higher than the Forte timber apartment located in Melbourne. It will also beat the International House Sydney at Barangaroo that stands six storeys high. The planned timber office tower is going to be funded by IIG, which would take ownership of the building once it is finished two years from now. IIG Chief Executive Chris Lock said the company expects the office market in Brisbane to continue to show a high demand for A-grade offices. This trend is highly anticipated in areas the Fortitude Valley and Urban Regen precincts. Lock added in an interview with The Fifth State that IIG’s strategy of developing buildings presents astonishing benefits not only to the environment but also to the local community, the company, and its investors.
The utilization of timbers for constructing high-rise towers has been greatly advocated by different groups, companies, developers, and industry experts. One of these advocates is Dr. Philip Oldfield. He is a Senior Lecturer in the Faculty of the Built Environment, University of New South Wales. Oldfield presented the wonderful opportunities presented when buildings are designed with climate, culture, and context in mind, according to Eco-Business. It promotes the reinvention of various kinds of structures in the country and encourages the use of safe, sustainable, durable, and environment friendly materials. A report released by The Urban Developer also checked out the role that this kind of material takes on during the development of various kinds of construction projects. The report also stressed that Australia has started to use more timbers when developing structures.