ISPT’S 500 Bourke Street is committed to a sustainable future

Artist's impression

Artist's impression

Our transformation of 500 Bourke Street in Melbourne will deliver one of our most sustainable properties in our portfolio.

Building change through innovation
A recent environmental report by Aurecon, found that by repositioning 500 Bourke rather than knocking it down, means we would save 57,000 tonnes of carbon dioxide, equivalent to the amount of carbon emitted by almost 9,000 cars on the road per annum. This is equivalent to the annual carbon output of 2,400 typical Australian homes.

500 Bourke will operate from 100% renewable energy and be carbon neutral both from day one of construction, and in operation upon completion in 2023, while targeting a 6-star Green Star and 5.5 tar NABERS energy rating.

ISPT’s General Manager, Commercial Services, Nicole Ward, said the growing understanding of the importance of repositioning and reinvesting into existing properties, sits at the core of our intentions .

“This is a once-in-a-generation opportunity to deliver a top-to-bottom transformation of an iconic Melbourne tower and lead ISPT towards net zero carbon emissions.

As developers and custodians of the cities in which we live, we have a responsibility to take a more environmentally conscious approach to the way we do business. By repositioning, rather than demolishing 500 Bourke, we are reaffirming to all of our investors, customers and partners , that our commitment to our ESG principles is a driving force behind every decision we make.”

Construction on the project is underway with completion scheduled for mid-2023, and anchor tenant TAL due to move in at the end of next year.