Lendlease, ProBuild, CPB Shortlisted for $1.5bn Collins Street Development


image: BatesSmart

This article has been edited to provide more recent updates.

Three of Victoria's top tier builders—Lendlease, ProBuild and CPB—have been shortlisted for a mammoth development at 555 Collins Street in the heart of Melbourne CBD.

The project is being led by Sydney-based developer and property group Charter Hall, and is currently awaiting approval from the planning minister. The project consists of world-class twin office towers.

In its initial stages, plans are to redevelop 35 storeys of office space, spanning 45,000 square metres. The total area of the twin towers will come to an expansive 80,000 square metres.

Architects Cox Architecture and Gensler have headed the design team to create a world-first “technology-enabled” plans. Cox Architecture is an Australian firm with an impressive portfolio including Melbourne’s Queens Place. Gensler is an international company that has worked on Facebook Headquarters in California.

In recent times, Charter Hall has also joined forces with Lendlease on the Wesley Place development, another sustainable precinct with high-rise towers.

The twin towers will join their ilk in Melbourne’s banking district, with facades on both King and Collins Streets. 

Charter Hall bought the property up in late 2016 for $140 million from Fragrance Group. The project is being funded by a Charter Hall initiative called the Prime Office Fund (CPOF), which gives investors access to prime office buildings in Australian capitals.

According to Charter Hall regional development director Simon Stockfeld, the building aims to provide “a better workday” for its tenants through people-centred design that fosters community and collegiality.

The experience will be unique and cutting-edge, connecting and inspiring workers through innovative design, kicking off a new trend in office developments. The design itself includes an activated ground plane, a deluxe commercial and culinary space, as well as a health centre.

The building will be one of the most environmentally sustainable and carbon neutral buildings in the CBD, with a 6 Star Green Star, a 5 Star NABERS Energy rating, and a Platinum WELL certification.

Prime Office Fund manager Matthew Brown says that the development will deliver a new Premium Grade office building in a location coveted by major corporate, legal and government occupiers. 

The twin towers will also contribute to Charter Hall’s Prime Office Fund portfolio, which is currently worth $5.4 billion.

Construction is due to begin early 2020 and we will announce the preferred builder on the project as the news breaks.

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