T3 Collingwood
T3 Collingwood: Leading the Way in Sustainable Mass Timber Construction
T3 Collingwood, the 18,200-square-meter, 15-story mass timber creative office building is one of the tallest mass timber office buildings in Melbourne as of completion in 2023 and one of the country's tallest mass timber office towers.1
Located in the rapidly gentrifying Melbourne Fringe suburb of Collingwood, T3 Collingwood offers excellent transport connectivity and access to the Melbourne Central Business District. Its amenity-rich urban environment is ideal for attracting tech and creative tenants as well as those in the medical/health industry. The project features state-of-the-art connectivity systems, with collaborative working spaces, common social areas, large tenant terraces, wellness-inspired amenities and retail offerings. And premium end-of-trip facilities support cyclists, joggers and walkers in using alternative ways to travel to work.
ESG Ambition in Action
T3 Collingwood focuses on sustainable Timber, access to public Transit, and active use of Technology. By replacing traditional structural systems such as concrete and steel with prefabricated mass timber structure, project leaders were able to create this best-in-class project in a fast, clean, sustainable, and aesthetically pleasing manner that supports wellbeing. Environmental benefits abound, most particularly with the use of mass timber reducing embodied carbon. Timber is one of the most rapidly renewable resources and stores rather than emits carbon — in this case reducing carbon emissions by 26% for structure of the building compared with standard concrete and steel construction.2
Compared with concrete and steel, the responsibly produced timber used in this project was less energy intensive to extract and process; cleaner and quicker to build with; recyclable, biodegradable, and more fire-resistant; and offers superior weight-to-strength performance. The timber is also locally sourced, reducing embodied carbon from logistics.
T3 Collingwood also improves the quality of tenants’ work/life balance with high connectivity to the commercial business district and transit, as well as intentional design. Exposed wood interiors having been shown to inspire happier, healthier inhabitants, providing quieter, warmer more pleasing and productive spaces — from large, open areas and flexible floor plans that enable personalization to balconies, social areas and fitness centers.
Additionally, biophilic design principles were incorporated into the design through the use of timber, maximizing natural daylight, greenery/landscaping and a material palette focused on an innate connection to the spaces.
NABERS Energy 5.5 Star is targeted, with an emphasis on reduction of energy consumption and operational carbon for the building.
Investment Outcomes
With these sustainability advantages in mind, T3 Collingwood was one of the first projects to be financed by The Timber Building Program, initiated by the government-sponsored Clean Energy Finance Corporation (CEFC) to substantially reduce construction-related emissions. In 2023, the project was awarded the Green Building Council of Australia’s 6 Star Green Star (Design).
T3 Collingwood brings to life a growing vision to increase structural timber usage across Australia. The nation’s public and private sector leaders have increasingly seen the deep environmental and human wellness benefit of renewable, recyclable and non-toxic timber — and are leading innovation through the use of mass timer construction.
1https://www.ctbuh.org/mass-timber-buildings
2AECOMLifecycle Analysis Report – IFC Issue November 2022. Hines confirms that, to the best of its knowledge, more updated information is not available and that the above information remains materially accurate.
3There is no guarantee the asset will achieve all of its ESG objectives.
Disclaimer
Case Study is for illustrative purposes, and there is no guarantee that future investments will achieve the same results.
The content herein is provided for informational purposes only. The content should not be relied upon as a basis for making an investment decision and is not an offer of advisory services or an offer to invest in any product or asset class. It should not be assumed that any investment in an asset class described herein will be profitable. Any opinions expressed in these materials are subject to change without notice. Opinions or beliefs expressed in these materials may differ or be contrary to opinions expressed by others. Certain information above and in the report has been obtained from third-party sources. Hines has not independently verified such information.