50 flinders street adelaide
Nikos purchased 50 Flinders Street for $175M last year. Image Supplied.
  • Only the second building nationally to acquire six stars for energy and indoor environment
  • Water rating has increased from 4.5 to 5.5
  • Nikos purchased the property from Cbus last year

50 Flinders Street in Adelaide, owned by the Nikos Property Group, has become only the second building in Australia to have maintained two 6 Star NABERS ratings without using purchased Green Power.

This is the third consecutive year the building has received 6 Star NABERS Energy rating after being awarded the rating for the first time back in 2019. It is one of only two buildings to have received 6 NABERS Stars for both Energy and Indoor Environment – the other building being 171 Collins Street in Melbourne.

Additionally, the building’s NABERS Water rating has increased from 4.5 to 5.5.

The family-owned Nikos Property Group purchased the property last year from Cbus Property in a deal reportedly worth $175 million, CBRE stayed on as property manager – a role it has maintained since the building was completed back in 2015.

“In today’s world where air quality and energy efficiency are critical issues for tenants it is fantastic to see 50 Flinders Street achieve such high ratings,” said Theo Andrianakos, CEO of Nikos Property Group.

“The result is a credit to the onsite team and their commitment to maintain 50 Flinders Street as one of the highest rated office buildings in Australia, which delivers measurable and obvious benefits to all our tenants.”

Theo Andrianakos, Nikos Property Group CEO

The 21,744 square metre building currently is leased to several high-profile tenants, including People’s Choice Credit Union, the South Australian and Commonwealth governments, BUPA, Cbus Super and Fiefy’s Café. Another notable tenant is Guardian Childcare & Education, which is the only childcare facility in the Adelaide CBD.

Michael Hall, CBRE Property Management Senior Director, noted that the NABERS achievements reflected on both Nikos and CBRE’s commitment to clear energy management targets.

“Collaboration was key to achieving and maintaining these NABERS ratings, with CBRE and Nikos Property Group committed to promoting initiatives which deliver market-leading sustainability outcomes and benefits for building occupiers,” Mr Hall said.

“We’re particularly thrilled that the building’s Indoor Environment (IE) rating of 97% positions 50 Flinders Street as the highest rated NABERS IE asset in Australia.”

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