Hickory and developer Charter Hall have entered into a joint venture to redevelop the former site of the notorious Goldfingers Gentlemen’s Club on the corner of King and Lonsdale Streets.
The site, which was purchased in 2019 for $50 million, will become home to a 22 storey mixed-use office building.
The plan for the corner site also encompasses the neighbouring Paramount House at 256-260 King Street, another building at 248-250 King Street and adjoining 576 Lonsdale Street.
The estimated value of the project, titled 580 Lonsdale, is $500 million, with the building to accommodate 24,000 square metres of office space.
The building, which has been conditionally approved by Future Planning Melbourne, and is yet to go before Planning Minister Richard Wynne, would see the WWI-era Kilkenny Inn corner facade maintained, fitted with 800 square metres of lower-level retail space.
News of the development comes only months after Hickory was announced preferred builder for the Bourke Street Walk Arcade redevelopment, signalling a strategic move by the company to expand its CBD pipeline.
The Walk Arcade redevelopment will see the dated building transformed to make way for expanded retail and dining spaces as well as a Holiday Inn and Hotel Indigo.
The adjacent Causeway lane will be reinvigorated to create an improved pedestrian link between Little Collins and Bourke Streets.
In an effort to clean up King Street, Charter Hall is also developing a 34-storey commercial building on the corner of Collins and King, with Amazon committed as anchor tenant.
Construction on 555 Collins began last month, the $1.5b build having been fast-tracked by the state government as an economic recovery measure.
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