Charter Hall tops out $1.24bn Chifley South in Sydney

Built has taken Charter Hall's 37-storey Chifley South office tower to its highest point, as new office and restaurant tenants sign up for the Sydney precinct.

Sydney, Australia - Charter Hall Group has topped out Chifley South, its $1.24 billion (AUD 1.8 billion) office development in Sydney's central business district, and has signed new office and hospitality tenants for the wider Chifley precinct.

Construction partner Built took the structure to its highest point, and completion is expected in mid-2027. Charter Hall said the tower is one of very few major office schemes now being built in the Sydney CBD, at a time when new supply is limited.

Main works began in February 2024, when Built won the construction contract after finishing the early works. The City of Sydney had granted development approval for Chifley South in December 2023.

More than 10,000 sq m of further commercial and retail space has now been let. Landmark Group has signed for a full floor, while UBS and Charter Hall, both already pre-committed to the building, are each taking more space. According to the company, the deals reflect conviction in Chifley and demand for premium offices.

Law firm Gilbert + Tobin joined UBS and Charter Hall as a future occupant in 2024, lifting the building's pre-commitment level above 55% at that stage.

Two hospitality operators have pre-committed at ground level. Applejack Hospitality will open RAFI CBD on Chifley Square, bringing what Charter Hall called the group's global hospitality experience, and Kadlia, the company behind Kazan, will open a Japanese fine-dining restaurant. Both are due to open in September 2027.

When finished, Chifley South and Chifley North will form a commercial precinct of two towers, valued on completion at about $2.75 billion (AUD 4 billion). A wholesale partnership managed by Charter Hall Group owns the precinct, which is expected to hold up to 10,000 workers.

Carmel Hourigan, Office CEO and Institutional Client Services at Charter Hall, said: “Topping out Chifley South is an important milestone in the transformation of the broader Chifley precinct and moves us closer to delivering the next generation of premium office space for Sydney.

“The addition of Landmark Group and leading hospitality operators Applejack and Kadlia Group reflects the strong appeal of the revitalised Chifley precinct and our vision to create a world-class destination that brings together premium workplaces, hospitality and amenity.”

David Paterson, CEO Construction at Built, said: “Topping out Chifley South marks an important milestone for everyone involved, following years of collaboration and detailed planning to deliver one of Sydney's most complex commercial developments alongside an existing operational environment. These deep capabilities have helped underpin Built’s growth into what is now Australia's largest privately owned construction company, delivering a national portfolio of complex projects across health, defence, data centres and major infrastructure.

“We're proud to partner with Charter Hall once again on another landmark project and look forward to progressing the tower through its next stages toward completion.”

Paul Scully, Minister for Planning and Public Spaces, said: “It’s great to see this project reaching another milestone today with the topping out.

“On the doorstep of a metro station and in the heart of the Sydney CBD, the new Chifley building is an investment in the future of jobs in Sydney.”

The Rt. Hon. Clover Moore AO Hon. FRAIA, Lord Mayor of Sydney, said: “Chifley South is a beautifully designed 37-storey, fully electric targeting a 6-star Green Star rated building, with retail and hospitality, public spaces, and quality public art – a landmark development that will serve our city life for decades.

“People want to come to work in a stimulating environment where they can connect, exchange ideas, find solutions and have some fun. Great cities continue to evolve to provide these sorts of places.

“This whole precinct is being future-proofed as a premium workplace, helping Sydney retain its status as a leading global city and the powerhouse of the NSW and Australian economies.”

David Harrison, Managing Director & Group CEO of Charter Hall, said: “Chifley South is a significant investment in the future of Sydney’s CBD and reflects our confidence in the continued demand for high-quality workplaces in global gateway cities.

“Together with our partners, we are creating a precinct that responds to the needs of businesses and their people while contributing to Sydney’s public realm and long-term economic strength.”

The precinct faces the new Martin Place Metro Station, and the future Hunter Street Station nearby will add a link between the CBD and Western Sydney.