COMMONWEALTH BANK RECOVERY CENTRE SITE 5
- Client: Colonial First State
- Role: Development Management
- Cost: $100 million
- Date: 2005 / 2008
The Site 5 development at Sydney Olympic Park comprises 23,000m² of commercial office space, ground level retail and basement car parking for the Commonwealth Bank of Australia (CBA). The development is the first tranche of a total of 70,000m² of development being provided for CBA as part of their relocation and consolidation strategy.
TSA Management was engaged jointly by the tenant and the owner (Colonial First State) to lead the site option review process, short listings and negotiations with the developer for the preferred development site. Four sites were initially selected for detailed evaluation, with the selected site being Site 5, Sydney Olympic Park (with Charter Hall as Developer).
TSA Management was responsible for finalising detailed negotiations of the Development Agreement and Agreement to Lease with the Developer, and during the delivery process acted as Owner Representative. The building was occupied by CBA in August 2007 and has achieved 4 star Greenstar and 4 ABGR ratings.