Impact Investment Group (IIG) has acquired Queensland's first engineered timber office building, 5 King.
This is IIG's second commercial building acquisition in the $2.9 billion Brisbane Showgrounds redevelopment.
At a height of almost 45 metres, 5 King will be the tallest engineered timber building in Australia and the tallest and largest engineered timber office building by gross floor area in the world. The innovative building will be the future home of global engineering firm Aurecon, with the company committing to lease four of the nine office floors.
The wooden 5 King was designed by architect Bates Smart with engineering services provided by Aurecon, and includes the ground plus nine-storeys and three bespoke ground level retail tenancies.
5 King will be built using cross laminated timber (CLT) and glulam (glue laminated timber) which has a structural strength akin to the traditionally used concrete and steel. The typical commercial floor plate will comprise 1,588 square metres of net leasable area (NLA), with a total area of 14,921 square metres (NLA) over 10 levels.
“5 King is the latest example of high-performance workplaces setting new benchmarks in environmentally sustainable building practices," Lendlease Chief Executive Officer of Australian Property Kylie Rampa said.
“The office building will offer tenants the opportunity to generate significant business benefits through large, efficient floorplates that provide flexibility for a variety of modern workplace formats. Its location on King Street provides excellent access to lifestyle amenity and transport options for employees."
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Buildings made from engineered timber have a lower carbon footprint than other building materials. The production process produces zero waste, and timbers are sourced from certified sustainably-managed forests.
5 King will feature exposed timber structures, creating a contemporary and creative studio environment. Large glass areas will maximise natural daylight, while sunshades on selected facades will reduce energy consumption, further reducing the building’s carbon footprint.
Aurecon Queensland Regional Director Neil Barr said the use of timber to lower the carbon footprint is a medium that Aurecon has used to good effect.
“Aurecon has been closely involved in providing structural and building services engineering design for 5 King, and has taken an active role in reducing building costs through digital design and modularisation," he said.
"Our firm has long seen timber as a viable alternative to steel and concrete and 5 King will showcase the strength of CLT in a ten-storey building."Across the nation the trend of timber highrise construction is becoming a prominent part of cities, as Melbourne will soon get its first commercial tower built out of cross-laminated timber, sitting on top of an existing six-storey commercial office building.
Victorian Planning Minister Richard Wynne approved Hume Partners Property's application for the structure, which will be built out of locally sourced timber and will contain 220 serviced apartments. According to Hume Property Managing Director Scott Davies, using traditional steel and concrete would only have permitted an extra six levels, or 140 apartments, Mr Davies said.
Lendlease is committed to achieving sustainable solutions with 5 King targeting a 6 Star Green Star Design and As Built v1.1 and a NABERS Energy 5 Star rating. The tower is serviced by 56 car parks over one basement level, and has 152 bike racks, 16 showers and 158 lockers.
5 King is due for completion in November 2018.
