$20 Million Office Upgrade in Adelaide CBD Secures Major Tenants Like Bupa and Canaccord

$20 Million Revamp of 45 Pirie Street Sets New Benchmark for Adelaide CBD Offices

In a bold move to revitalise Adelaide’s commercial property market, Curated Capital has unveiled a $20 million transformation of the 18-storey office tower at 45 Pirie Street, aimed squarely at enticing workers back into the heart of the CBD.

Backed by Sydney-based Realside Property, the fund manager acquired the site in 2023 for $76 million—well below the $105 million paid by Singapore’s AEP Investment Management in 2017—capitalising on weakened post-COVID office demand. Now, with extensive upgrades in place, the building is positioning itself as a premium destination for modern businesses seeking more than just desk space.

Key features of the upgrade include a state-of-the-art gym, Adelaide’s first ensuite-style end-of-trip facilities, a golf simulator, and a newly designed lobby housing Reno’s—a wine bar and restaurant led by Bluprint hospitality’s Frankie Marafioti. These additions are all part of Curated Capital’s vision to create a dynamic and engaging work environment that boosts employee wellbeing and encourages in-office collaboration.

Tenants have responded positively. Health insurance leader Bupa will occupy 800sqm, while Canaccord Genuity and Symal Group have signed on for 525sqm and 510sqm respectively. Existing tenant Holman Hodge remains a key occupant with over 1,000sqm. Together, the leased space now exceeds 10,000sqm, with an additional 3,000sqm currently under active negotiation—naming rights included.

Curated Capital director Alessio Roscio says the refurbishment responds to a clear shift in tenant expectations. “Modern businesses are seeking more than square metres—they want culture, convenience, and community,” he said. “45 Pirie Street offers all three.”

Realside CEO Linda Rudd added that refurbishments like this are not only commercially savvy but also environmentally responsible. “Rather than knocking down and rebuilding, we’re adapting existing assets to meet new demands. It’s a smarter, greener approach to property investment.”

This move places Curated Capital in direct competition with other high-profile developers like Quintessential, who have completed $30 million in upgrades across other iconic Adelaide buildings. However, the curated nature of 45 Pirie Street’s offering—with premium amenities and a focus on experience-led design—makes it a standout in the market.

As businesses across South Australia redefine the future of work, demand for quality commercial space is surging. The leasing success at 45 Pirie Street is not just a win for Curated Capital—it signals a broader resurgence in Adelaide’s CBD commercial property sector.