Cbus Property

Cbus Property continues to forge ahead with new and existing opportunities

We’re unique in that we take a direct interest in the industry of our members. Cbus Property Pty Ltd^* is a wholly owned entity of the Fund and is responsible for the investment, development and management of a portfolio of our property investments.

These investments in the commercial office, retail and residential sectors have delivered strong long-term returns^†, whilst also adding value to the economy and creating employment opportunities for our members.

Cbus Property’s latest commercial office development is 435 Bourke Street, in Melbourne’s central business district. The Commonwealth Bank of Australia (CBA) and Baker McKenzie have committed to leasing approximately 15,000 and 3,600 square metres of office space, respectively.

Our investment in projects like 435 Bourke Street creates jobs for our members.

This development alone is expected to create approximately 3,500 jobs^‡ throughout the construction journey, with up to 300 workers on site each day during the peak construction period.

In the residential space, Cbus Property recently acquired a development site in Melbourne’s St Kilda Road precinct, with construction due to begin in 2025. 437 St Kilda Road will be Cbus Property’s fourth residential venture with Bates Smart in Melbourne, following Classic East Melbourne, 35 Spring St and 17 Spring St.

It also marks Cbus Property’s twenty-fourth development in the greater Melbourne area, adding to its development pipeline across Australia, with residential and commercial projects currently underway in Melbourne, Sydney, Brisbane and Perth.

Cbus Property’s projects in Sydney are progressing well, with the second stage of the Newmarket Randwick masterplan anticipated to be completed in mid-2025 following its recent topping out.

It’s anticipated that the 111 and 121 Castlereagh Street mixed-use development in Sydney’s CBD will be completed in stages, starting with the office component in mid-2025, followed by the residential component in late 2025.

^* Cbus Property Pty Ltd is a wholly owned entity of United Super Pty Ltd and is responsible for the development and management of a portfolio of Cbus Super’s property investments.

^† Past performance is not a reliable indicator of future performance.

^‡Estimated jobs since are based on onsite inductions, using actual inductions reported by Cbus Property and estimated inductions for committed developments based on direct development comparisons, and the average percentage of labour allocated to development projects.