The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
UPCOMING EVENT - INDUSTRIAL AND LOGISTICS SUMMIT 16 OCTOBER, SYDNEY
INDUSTRIAL AND LOGISTICS SUMMIT - TICKETS NOW ON SALE
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
RetailAna NarvaezTue 21 May 19

Developer ‘Accelerates’ CBD Office Towers to Meet 2022 Demand

1b64df02-3650-4a26-9077-ec5bfe036424

Charter Hall is accelerating the construction of 555 Collins Street to meet a “key spike” in the expiry of commercial leases in Melbourne’s CBD.

The developer says it expects the demand for about 700,000sq m of leased space to peak in 2022 and is taking the “proactive approach” by commencing demolition early.

“It puts us in a position to deliver within this window of expiries,” Charter Hall development director Simon Stockfeld said.

The $13 million demolition contract has been awarded to contractor Delta Group.

The property fund manager tapped US firm Gensler to design the 35-storey office tower at 555 Collins, submitting a development application for the site in mid-April.

The first phase of the project will deliver 45,000sq m of technology-enabled office space to Melbourne’s financial district.

Related: Dexus Seizes Whole Block in $1.48bn Deal

The towers Charter Hall plans to develop, totalling 80,000sq m, will be tech-heavy, integrating “smart” technology with research on connected workplaces.Gensler, Cox.


Charter Hall acquired 555 Collins Street for $140 million in October from Fragrance Group, creating a 4,620sq m strategic land holding in the western core of Melbourne’s CBD.

Charter Hall’s prime office fund owns neighbouring 55 King Street.

“The existing 555 Collins Street building is vacant, allowing us to hit the accelerator to meet completion deadlines,” Stockfeld said.

The Cox Architecture and Gensler-led design will “activate” the ground plane by adding public connections between Collins Street, King Street and Flinders Lane and a retail hub.

The demolition contractor Delta is already onsite, setting up perimeter gantries and erecting a tower crane. Completion is slated for mid-2022.

The 35-storey building is targeting 6 Star Green Star, 5 Star Nabers Energy and Platinum Well certification.

Charter Hall has appointed JLL and Colliers as leasing agents.

RetailOfficeAustraliaMelbourneConstructionReal EstatePlanningPlanningResearch
AUTHOR
Ana Narvaez
The Urban Developer - Editorial Director
More articles by this author
ADVERTISEMENT
TOP STORIES
Salta MD Sam Tarascio
Exclusive

Why Salta Won’t Break Ground on $400m Pipeline

Leon Della Bosca
7 Min
Exclusive

Precinct Proposals Bloom as Brisbane Middle-Ring Sheds its Past

Phil Bartsch
8 Min
Exclusive

Newest Land Lease Player Plots Sector Shake-Up

Taryn Paris
5 Min
Waterloo Affordable Mirvac hero
Exclusive

Affordable Housing Rules Tighten as Proposal Deluge Continues

Clare Burnett
5 Min
Exclusive

Beyond the Aerotropolis: How Airports are Turning into Cities

Taryn Paris
6 Min
View All >
Sponsored

Bondor Metecno’s MetSeam Elevates Facade Design Style

Partner Content
Exclusive

Dark Horse: Self Storage Sector’s Biggest Players

Shravanth Reddy
SHMH Penrith hero
Residential

First Stage Filed for $1.1bn Penrith Masterplan

Clare Burnett
Four towers are planned for the site that neighbours a stadium where work has begun on a $300-million rebirth...
LATEST
Architecture

Bondor Metecno’s MetSeam Elevates Facade Design Style

Partner Content
5 Min
Exclusive

Dark Horse: Self Storage Sector’s Biggest Players

Shravanth Reddy
3 Min
SHMH Penrith hero
Residential

First Stage Filed for $1.1bn Penrith Masterplan

Clare Burnett
3 Min
Life Sciences

NSW Healthcare Asset Portfolio Comes to Market

Lindsay Saunders
4 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/developer-accelerates-cbd-office-towers-to-meet-2022-demand--