‘Build it and they will come’: Cbus Property’s $1b Bourke Street bet

Industry super fund developer Cbus Property is going full steam ahead building a $1 billion tower Melbourne CBD tower with less than one third of its space pre-committed, confident that it will have few competitors for corporate tenants when completed at the end of 2026.

The anchor tenant for the 60,000 sq m tower at 435 Bourke Street is Commonwealth Bank, which is taking 15,000 sq m, while law firm Baker McKenzie has just signed on for 3600 sq m.