NAB signs 10-year precommitment lease at 60 King William Street

Charter Hall Group (Charter Hall or the Group) is pleased to welcome long-term customer NAB to our state-of-the-art, PCA Premium Grade, 39,000m² office tower at 60 King William Street in Adelaide’s CBD on a precommitment lease of 10-years.

NAB will occupy approximately 3,700m² of office space across two levels of the 14-floor development, with a further 255m² on the ground floor to anchor the King’s Lane retail mall entrance on King William Street.

Charter Hall Office CEO, Carmel Hourigan, said, “We are pleased to be further extending our deep relationship with NAB and we look forward to welcoming their people to this cutting edge, landmark building at 60 King William Street, upon completion in 2023.”

NAB is a major banking partner for Charter Hall across multiple funds and sectors and is also a valued tenant customer, occupying several of Charter Hall properties around the country.

Charter Hall Managing Director and Group CEO, David Harrison, said, “Our growing partnership with NAB at 60 King William Street continues our strategic alignment and expansion of extensive cross-sector relationship with major customers across our portfolio.”

Construction is still underway at 60 King William, but this 10-year precommitment lease with NAB means more than 94% of this landmark building is already leased – illustrating the outstanding strength of Charter Hall’s partnerships and the flight-to-quality in the office market.

“The significance of precommitment from NAB, Telstra and Services Australia for 60 King William cannot be understated. It demonstrates Charter Hall’s unique ability to harness the power of our platform and our partnerships, to deliver a world class development for our valued tenant customers and 60 King William ownership partners — CPOF, PFA and VFMC,” said Mr Harrison.

NAB Executive Enterprise Operations, Quentin Boyes, said, “60 King William presents a great opportunity for our people to collaborate in a flexible, state-of-the-art office with modern workspaces that are ideal for our hybrid workforce. Our new Adelaide office will also feature premium arrival, lobby and end-of-trip facilities as well as excellent sustainability credentials, right in the heart of the CBD, providing an outstanding workplace for our people.”

60 King William is setting a new sustainability benchmark for South Australia. Developed under a carbon neutral framework, it will be net zero in operations. With our construction partner, Built and Cox Architecture, 60 King William is targeting a 6 star Green Star rating, a 5 star NABERS Energy Rating and WELL Platinum certification. This precinct includes an all-electric mechanical central plant and climate-friendly refrigeration.

With the workplace experience at the heart of 60 King William’s design, our tenant customers will also benefit from a touchless secure entrance, touchless bathroom amenities, a wellness centre, electric vehicle charging, a business hub, efficient 3,000m² floor plates, and the first sky lobby in Adelaide. Ground level retail space will connect from King William Street through a central mall to James Place, to be known as King’s Lane.

Construction at 60 King William Street began in March 2021 and is scheduled to reach practical completion in mid-2023. More than 1,500 local jobs are being created throughout the development delivery phase.