FRANKFURT 14 December 2020 – CBRE Global Investors announces the opening of Zurich Tower, the new home of Zurich Financial Services Australia (Zurich), at 118 Mount Street, North Sydney. The asset was acquired during construction in 2019 by CBRE Global Investors on behalf of a German institutional client.
The 29-storey purpose-built Zurich headquarters has delivered 20,600 sqm of Grade A office space and includes a two-level podium, a future café space, a sky terrace, three basement car parking levels and 190 bike racks as well as showers and lockers. It overlooks Sydney Harbour and the CBD.
The environmentally sustainable building has been designed to capture renewable energy and sets new benchmarks in thermal performance. It is targeting a 5-Star Green Star – Design & As Built v1.1 rating.
Construction was completed in mid-November 2020 and Zurich staff have now taken up residence.
With Zurich Tower representing the German institutional client´s first acquisition in Australia, Andreas Hepp, Portfolio Manager, CBRE Global Investors, said the event marked an important milestone for their client.
“Zurich Tower has already made an important contribution to North Sydney, one of Australia’s fastest-growing CBDs, and it represented an outstanding opportunity to invest.
“A truly smart and sustainable building has been delivered and we have an asset that we are confident will perform well for both our investor and the tenant.”
Justin Delaney, CEO of Zurich Life & Investments, said the move into Zurich Tower will have significant impacts on Zurich’s team culture.
“Bringing our Sydney employees together, in a fully collaborative space, will further strengthen our culture and help us to build upon our purpose to create a brighter future together.
“Our commitment to creating a sustainable place to work supports Zurich’s global sustainability efforts to minimise our environmental footprint.”
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About CBRE Global Investors
CBRE Global Investors is a global real assets investment management firm with $114.5 billion in assets under management* as of September 30, 2020. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2019 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers.