In a major victory, private contractor Hansen Yuncken has won the lucrative build contract for Salta’s $230 million Richmond development at 459 Church Street.
Hansen Yuncken beat out prominent contractors including Probuild for the job, with construction to commence mid-year. The mixed-use development will consist of two premium office towers along with cafés, childcare and medical centres and co-working spaces; meeting the demand for commercial space as creatives and tech businesses flock to the area dubbed ‘Silicon Yarra.’
Built. is digging foundations for SEEK’s new headquarters on Cremorne Street; and MYOB has been announced as a major tenant of Caydon’s Malt District further down the road.
Salta’s Church Street project will also be designed to achieve a 6-Star Green Star rating, a internationally-recognised sustainability rating system. Hansen Yuncken delivered Australia’s first 6-star rated building in 2006 with its Council House 2 project.
The Hansen Yuncken appointment comes as Salta last week announced it had found a joint-venture partner for the project in Abacus Property Group. Each company will take a half share in the end project, with Salta responsible for the project’s development along with leasing and asset management.
Sam Tarascio, Salta’s Managing Director, said of the Abacus partnership: “The approach to development and the values of the two organisations are closely aligned and are focused on delivering the best quality commercial offering to the budding Richmond and Cremorne precinct.”
Salta’s Managing Director, Sam Tarascio (Image source: The Australian)
Architectus will design the precinct at the Church Street site, purchased two years ago for $51 million. Salta is yet to gain development approval for the project.
Header image source: The Urban Developer
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