5 Martin Place, Sydney, won the 2017 NSW Development of the Year award. Photo: supplied
The heritage-listed 5 Martin Place has won the 2017 NSW Development of the Year award. Dexus Property and Cbus Property were presented with the NSW property industry’s top accolade at the Property Council of Australia / Rider Levett Bucknall (RLB) Development of the Year cocktail party on Thursday night.
Affectionately known as Sydney’s “Money Box” building, 5 Martin Place has been “re-engineered” for the new century, with the sandstone building extensively modernised whilst retaining its distinctive historic features. RLB managing director Matthew Harris said the considered restoration and transformation of 5 Marin Place had delivered one of the “most inspired and innovative commercial workspaces in Australia”.
“The building’s 5 Star Green Star rating demonstrates how older buildings may be upgraded to meet new sustainability standards,” he said.
Folkestone Maxim REIT
Markets are likely to continue to be volatile in the short to medium term as US President Donald Trump plays out his first 100 days and beyond. The market will keep a close watch on whether Mr Trump is able to deliver on his campaign promises, in particular tax cuts, according to the Folkestone Maxim REIT’s managing director, Winston Sammut. For the month of March, the fund returned +1.48 per cent, after fees but before tax, outperforming the fund’s benchmark, the S&P/ASX 300 A-REIT Accumulation Index, by +0.77 per cent.