ICON

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Construction giant Icon claims it has spent $24 million since the evacuation of the Opal Tower skyscraper last December.
Fifteen owners are still locked out of their Sydney Olympic Park apartments as the cracking repairs continue.
One owner sold the worst affected apartment to Icon on the 10th floor.
Icon was the company that built the tower which was completed in August last year.
Icon told the ABC the Opal Tower event was insurable, however it did not reveal how much of the $24 million it was planning to claim.
The amount includes money spent on housing residents in temporary accommodation.
The ABC reported Icon's NSW business reported $163 million in revenue for 2018, down from the $335 million in 2017.
It reported a $1.63 million net profit in 2018, down from $6.8 million in 2017.
An Icon spokesperson said the company's approach to Opal Tower since the Christmas Eve evacuation "cannot be questioned".
"[This is] all without admission of liability," a company spokesperson told the ABC.
Domain recently reported Sydney Olympic Park apartment sales in the suburb have dropped 85 per cent in the six months to June compared to the same time last year.<iframe title="3rd party ad content" name="google_ads_iframe_/31694718/domain.com.au/news/nsw_3" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" width="1" height="1" data-google-container-id="7" data-load-complete="true" data-integralas-id-7d0c1289-2a86-1366-5f35-e19975ab98cf=""></iframe> 
Across Sydney, buyers interest in new apartments has slipped, with views per listing for new apartments down 9 per cent in the first half of 2019.
Agents noted the Opal Tower event had tarred the entire suburb.
“Sydney Olympic Park has been affected because [buyers] think the entire park is a problem, not a particular building,” one agent said.
 “They’re all looking for that one word … [asking] is Icon the builder?”
McGrath agent John McManus, who is selling an apartment in Sydney Olympic Park, said buyers were skeptical about all new builds. 
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j.ballantyne1990-6AQqhLzZaK

Builder Icon spends $24 million after Opal Tower cracking

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ICON Developments in partnership with Camlen Property Group have breathed new life into an office building, following an extensive refurbishment which has created a unique offering within Canberra’s Civic precinct.

10 Hobart Place is driving the trend for building owners to refurbish existing property to meet growing market demand in the capital, in order to enhance tenant amenity and attract tenants. Through this refurbishment, two of the building’s ten floors have been radically transformed into chic and flexible workspaces.

With many adjacent buildings being redeveloped into multi-residential projects, 10 Hobart Place provides a point of difference within Canberra's burgeoning Civic precinct, surrounded by a range of commercial, retail and residential buildings. 

10 Hobart Place totals 4,500 sqm of lettable space offering flexible tenancy areas with office space catering for tenants from 65 sqm to 530 sqm.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/dmc_6193.jpg" rel="gallery-all" title="The refurbished interiors of 10 Hobart Place. Image: ICON"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/dmc_6193.jpg?itok=0UF6dBxw" title="The refurbished interiors of 10 Hobart Place. Image: ICON" width="580"></a>

<figcaption>The refurbished interiors of 10 Hobart Place. Image: ICON</figcaption></figure>The charm of its 1960’s exterior has been maintained, with the redesign of 10 Hobart Place delivering modern office accommodation with an industrial-inspired aesthetic, including polished concrete floors, exposed ceiling services and glass internal corridor partitioning.

Canberra’s Civic precinct has experienced a significant amount of development activity in recent years in a bid to revitalise the city and make it a more vibrant and attractive place to work, live and visit, and to continue to attract investment.

Working with peckvonhartel on the redesign, ICON has updated end of trip facilities, building amenities, services and tenant spaces to set a new standard for commercial occupiers in the heart of Canberra’s CBD. 

The building now offers new premium end-of-trip facilities, including separate male and female showers, lockers and change rooms, as well as bike storage.

<blockquote>
Through this refurbishment, we wanted to stay true to what makes the city unique. Located at the heart of the CBD and surrounded by so much of what gives Canberra its distinct character, the building represents professionalism and style within a corporate business environment.

As a design-focused developer, we always endeavour to create iconic projects that will stand the test of time, and by combining old and new, we believe that 10 Hobart Place does just that. Through this refurbishment we were able to offer cutting-edge office accommodation as well as contribute to the wider urban renewal we have been witnessing in the city.

We really wanted to attract vibrant professionals and establish a creative community within the building which in turn will have a positive impact on the precinct. To promote this cohesion, we have introduced a ground floor café and an 80’s themed basement bar called ‘88mph’ which has been well received by tenants.

- Ashley Murdoch, ICON Developments
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/dmc_7105.jpg" rel="gallery-all" title="10 Hobart Place's premium end-of-trip facilities. Image: ICON"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/dmc_7105.jpg?itok=hjoKxd0e" title="10 Hobart Place's premium end-of-trip facilities. Image: ICON" width="580"></a>

<figcaption>10 Hobart Place's premium end-of-trip facilities. Image: ICON</figcaption></figure>Canberra's Civc precinct has become a highly sought after office market by both the private and public sector, having undergone a transformation in recent years into a mixed-use precinct, adding a diverse mix of residential and ground floor retail amenities within an established office location. 
Within the 10-storey building, two floors have concurrently been refurbished however further tenancy options from 180 square metres are available for lease.

The building is located in close proximity of the ACT Magistrates and Supreme Courts, The Australian National University (ANU) Action Campus, and Canberra Shopping Centre.
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Laurence Dragomir

ICON breathes new life into a 1960's Canberra office building

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The Victorian Civil and Administrative Tribunal (VCAT) has approved ICON Developments' 600 Church Street commercial office development in Cremorne's growing technology precinct, dubbed 'Silicon Valley.'

Designed by Wood Marsh, 600 Church Street is set to become a prominent, architecturally designed commercial office building that will contribute to Cremorne’s existing industrial context and enhance the streetscape.

ICON worked collaboratively with both project architects Wood Marsh and the City of Yarra to refine the final design and ensure it provides a unique offering for businesses looking to relocate into the fast-growing design and technology precinct.

The approved development will include 5,264 sqm of office space and 535 sqm of retail space over eight levels topped off with a landscaped rooftop terrace, in addition to 71 car spaces, 100 bicycle parks and extensive end of trip facilities located within three levels of basement car parking.

The lure for prospective 600 Church Street tenants is the opportunity to join the thriving creative, retail and technology companies that have based themselves in Cremorne which is fast becoming one of Melbourne’s most attractive commercial markets.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/hero_0.jpg" rel="gallery-all" title="600 Church Street will add to Cremorne's growing office development. Image : ICON"><img alt="" class="image-article-full-width-580px" height="792" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/hero_0.jpg?itok=b1r_0iD7" title="600 Church Street will add to Cremorne's growing office development. Image : ICON" width="580"></a>

<figcaption>600 Church Street will add to Cremorne's growing office development. Image: ICON</figcaption></figure><blockquote>
We worked closely with Wood Marsh and the City of Yarra before submitting the development application in June 2017. From here, we further refined the design based on community feedback and subsequently approval was granted from VCAT on 17 April 2018.

City fringe locations like Cremorne continue to attract significant interest from occupiers who would’ve previously only looked at CBD office space, making it one of the strongest performing office markets in Victoria.

With all the existing amenity including some of Melbourne’s best cafés and retail strips, public transport and parks, it’s easy to see why many businesses are making the change.

- Brinn Tavener, ICON Developments senior development manager 
</blockquote>

Demolition of the existing building on site is already in full swing, with the construction of the new development anticipated to commence in June 2018, with a target completion date of  Q4 2019.

600 Church Street joins a growing list of commercial developments within Cremorne with Urban.com.au currently tracking 10 commercial projects within the database. 

Salta Properties has also afforded a glimpse of its latest commercial development designed by Architectus to be located on Church Street, via its social media channels.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screenshot_20180423-181652_instagram.jpg" rel="gallery-all" title="A glimpse of the interior of Salta Properties' latest Church Street project. Image : Salta Properties"><img alt="" class="image-article-full-width-580px" height="574" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/screenshot_20180423-181652_instagram.jpg?itok=PA-_HVzF" title="A glimpse of the interior of Salta Properties' latest Church Street project. Image : Salta Properties" width="580"></a>

<figcaption>A glimpse of the interior of Salta Properties' latest Church Street project. Image: Salta Properties</figcaption></figure>
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