AUSTRALIA 101 MILLER STREET - REVITALISING COMMUNAL SPACES Upgrading works has started at 101 Miller Street to future-proof this iconic development in the heart of North Sydney. Scheduled to be completed by 2Q 2024, the renovation works of approximately A$9 million will transform the ground-floor lobby into a best-in-class multifunctional communal space, with a concierge desk, café/bar and meeting rooms managed by a coworking and executive space operator, Work Club. Notably, the upgrades are designed to revitalise the lobby into a vibrant social hub, fostering community interaction and improving tenant retention. Part of the upgrading work will also enhance connectivity to Greenwood Plaza and the broader precinct, thereby improving overall accessibility, user experience and vibrancy of the integrated development. Revamping the lobby with the introduction of a cafe and event space. GALLILEO - ENHANCING FOR SUSTAINABILITY CICT has been proactively refining the asset plan for Gallileo in Frankfurt, Germany, in anticipation of the building’s vacancy due to an anchor tenant's lease expiry in end-January 2024. Since February 2024, the property has commenced a three-phase AEI to bolster its relevance, functionality and operational efficiency. Costing an estimated EUR175 million – EUR215 million, the AEI is set to elevate Gallileo to modern Grade A office standards. The initiative will include significant improvements to the mechanical, electrical and plumbing systems, aimed at achieving a minimum green rating of LEED Gold. A downtime of at least 18 months is expected for the AEI. Advanced negotiations are in progress with a prospective tenant from the financial services sector, for most of the building's NLA. Gallileo is well-located in the Banking District of Frankfurt, Germany GERMANY Before After Artist's impression 44 CAPITALAND INTEGRATED COMMERCIAL TRUST VALUE CREATION
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