Suncorp Group will soon have a new home base in Brisbane, and the massive transfer to what is described as the city’s first post-COVID workspace has begun.
The financial services group – which employs more than 13,000 people and consists of Insurance (Australia), Suncorp Bank, and Suncorp New Zealand – told Insurance Business that the company will be occupying 18 floors of Heritage Lanes at 80 Ann Street.
Recently topped out, the premium-grade office tower from Mirvac Group and M&G Real Estate stands 35 levels tall. Ahead of full completion, which is expected in late February next year, Suncorp has started moving staff to the new corporate headquarters.
As anchor tenant, Suncorp is set to take up 40,000 square metres of office space, out of the building’s more than 60,000sqm total.
“Heritage Lanes is truly a workplace of the future,” said chief executive Steve Johnston (pictured right with Mirvac senior development director Chris Johansen). “It will revolutionise the way we work at Suncorp.
“It will be a different workplace, with more collaboration spaces allowing teams to choose a work setting best suited to the task at hand. Our Brisbane-based employees are excited to move into the building, spend more time in an office environment, and in the CBD.”
Suncorp is one of the biggest employers in Queensland. Its relocation within the state’s capital will see the insurance giant consolidate its Albert Street, Brisbane Square, and Central Plaza offices into the $856 million premises.
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“Office occupancy is sitting at just 51% of pre-COVID levels, and the reality is, there is still a lot more work to be done to get back on an upward trajectory and keep our CBD business doors open,” said Brisbane Lord Mayor Adrian Schrinner, who believes Heritage Lanes would be a key driver in enticing workers back into the central business district.
“Heritage Lanes has set the new standard of what a modern workplace should be – a destination that marries COVID safety, well-being, and sustainability to create healthier and more practical spaces to work.”
The property, which Suncorp said “very much supports” the insurer’s hybrid working model, has a six-star Green Star rating. In Suncorp’s view, moving to the new site will be a significant step in reducing the firm’s environmental footprint and energy consumption.
“Heritage Lanes will be the first development in Australia to target the highest rating of the Green Building Council’s newly released rating tool ‘Green Star Buildings’ alongside five-star NABERS (National Australian Built Environment Rating System) Energy and four-star NABERS Water ratings and a Platinum Core and Shell WELL Certification,” highlighted Campbell Hanan, Mirvac integrated investment portfolio head.
“These leading environmentally sustainable design standards enable a healthy and sustainable workplace, with a significant focus on occupant well-being and COVID safety management.”
Johnston noted that the design of Heritage Lanes can adapt to suit the post-pandemic world, in that changing social distancing requirements can be accommodated, as well as the possible need for on-site vaccination areas and spaces for rapid antigen testing.
“As our major cities prepare to reopen,” added Hanan, “the return to the office is high on the agenda for Australian businesses so workforces can reconnect and collaborate. This means a focus on health, safety, and well-being is paramount for employers and employees.
“Heritage Lanes is a next-generation workplace that responds to these trends, providing industry-leading technology, sustainability, and flexibility. Completion of the development is on schedule for the end of February next year, after recently topping out.”
He also revealed: “We collaborated closely with Suncorp throughout the entire construction journey, including aligning our timeline with their desire for early occupation of part of their new headquarters. We’re ready and excited to welcome the Suncorp team to their new home.”
Suncorp isn’t the first major insurer in Australia to make the switch, office-wise, during the pandemic. In late 2020, Zurich Financial Services Australia moved to the newly constructed Zurich Tower, an A-grade 29-storey property at 118 Mount Street in North Sydney. It replaced Zurich Insurance House as the Swiss group’s headquarters Down Under.
QBE, meanwhile, relocated to 388 George Street earlier this year, bringing together staff from the firm’s group head office and Australia Pacific division into one Sydney CBD site. The transfer was aimed at simplifying the insurer’s operations, improving collaboration and efficiency, and contributing to its longer-term sustainability goals by reducing operational emissions.
