Big Bank To Settle Into $430 Million Tower

The ANZ is set to take up the anchor tenancy in Lendlease's new $430 million Docklands tower.

The decision to move into the new development, right next door to ANZ's existing global headquarters, makes it one of the biggest deals in Melbourne's commercial property market in the past year.

Located at 839 Collins Street, the tower in the Docklands precinct will become a 20-level office tower featuring 38,000 square metres of A-grade commercial space.

Invesco and Challenger made the $430 million investment into the tower, resulting in construction to take place over the next two years.

According to the Sydney Morning Herald, Lendlease​ will develop the property and will seek out other tenants for the remaining 11,500 square metres of space in the building.

ANZ Group general manager property Kate Langan told the Herald that having two adjacent buildings across one Docklands location will enable the bank to create a single ANZ campus that will address future workplace demands while also allowing people to work together more "easily and creatively".

"This is the last available commercial building in Victoria Harbour which features the highest concentration of Green Star-rated buildings in Australia. We think it will be great for our staff as well as having significant environmental benefits," Ms Langan said.

"The new lease agreement follows the sale of ANZ's office tower at 100 Queen Street Melbourne to GPT Wholesale Office Fund, which the bank is leasing back with an initial term until 30 June 2019."The development of 839 Collins Street, the final major commercial site in Victoria Harbour, will largely complete the commercial elements of the 30 hectare mixed use precinct that houses approximately 15,000 workers across major tenants ANZ, Myer, NAB, Aurecon, Ericsson, Fujitsu and Lendlease.

The Australian Financial Review revealed the development of the building will draw inspiration heavily from how people work and how different, diverse and collaborative teams come together.

ANZ General Manager for property Kate Langan told the AFR that she and her team have worked closely with local manufacturers and designers, including Zenith Interiors, to customise office furniture, allowing staff to shape the space to suit their work demands in the new tower.

"We recognise that people come to collaborate with others and therefore the types of space that they come to are no longer traditional deskbound spaces," Ms Langan said.