30 Pirie Street
30 Pirie Street demonstrates the value of regenerating existing office assets, delivering sustainability upgrades and modern amenities to support tenant demand and long‑term performance in Adelaide’s CBD.
Opportunity
Adelaide’s CBD office market faced growing demand for high‑quality, sustainable workplaces, while much of the existing stock no longer met tenant expectations. At the same time, there was an opportunity to regenerate older office assets to support increased CBD activity and long‑term economic resilience.
30 Pirie Street presented an opportunity to reposition a prominent CBD office tower, improving amenity, sustainability performance and tenant appeal while contributing to the ongoing revitalisation of Adelaide’s city centre.
Approach
MaxCap provided a first‑mortgage sustainable upgrade facility to support Quintessential Equity’s acquisition, refurbishment and repositioning of the 26‑storey office tower. The approach focused on unlocking value through targeted capital investment and sustainability‑driven upgrades rather than new‑build development.
The regeneration program included a revitalised ground‑floor lobby, enhanced end‑of‑trip facilities, new conference amenities and extensive building services upgrades. Sustainability initiatives were embedded throughout, targeting a minimum 5‑star NABERS Base Building Energy Rating.
Outcome
The upgrade program has repositioned 30 Pirie Street as a highly competitive office destination in the Adelaide CBD, attracting national tenants and securing BDO Australia as the building’s anchor tenant with naming rights.
The asset’s enhanced sustainability credentials, modern amenities and improved tenant experience support stronger long term occupancy and contribute to the revitalisation of Adelaide’s commercial core. The project demonstrates how targeted capital and asset management can extend the life of existing buildings while meeting evolving market demand.
