Melbourne CBD Approvals Continue With Little Bourke Street Tower
Image source: Brisbane Times
A 23-level office tower valued at $250m is underway as Argo Group’s plans to develop the Little Bourke Street tower high-rise in the midst of Melbourne’s pandemic have been approved by the Melbourne Council.
Demolition of the site is planned for early 2021 where the chosen contractor will demolish what was once the site of the Great Western Hotel at 570 Little Bourke Street plus the three adjoining sites which meet King Street.
The Little Bourke Street tower will host more office space and add to the vast amount of new CBD-oriented developments going up this year.
Argo Group remains positive that its plans will remain unscathed by Melbourne’s current unnerving construction climate.
The new tower conceived by Nick Argyrou of Argo Group will be designed by UNStudio architects that hail from Amsterdam.
Nick Argyrou has been said to envision his tower will add to Melbourne’s commercial landscape and attract major head offices to reside in the Melbourne market.
Once completed, the tower will be valued at $250m and span 24,000 sq m of office spaces, outdoor terraces and a pocket park.
Three prominent builders are predicted to tender; Probuild, Multiplex and Hickory. The three groups were also expected to tender for the Lonsdale Street Tower in late July.
Probuild is currently developing West Side Place in the CBD which will take up 4,500 sq m space over two towers. Multiplex is underway constructing 308 Exhibition Street worth an estimated $560m.
Hickory has strong ties to Argo Group. They’re currently mid-construction of Argo Group’s new South Yarra Hotel which once completed is predicted to be valued at $55m. Hickory are expected to be the leading builder in the tender process.
Once approved, the chosen contractor will begin construction in April of 2020.
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