DEXUS Wholesale Property Fund (DWPF) is set transform one of Melbourne' s CBD office landmarks, 360 Collins Street.
DWPF has received a Development Approval to refurbish the existing 12 low-rise floors and create an additional 6,000sqm of office space.
DWPF Fund Manager Penny Ransom said: "After more than 20 years at 360 Collins Street, the departure of Westpac provides us with the opportunity to reposition the building to outperform in the future, while enhancing the quality of DWPF’s office portfolio which includes Gateway and 1 Bligh Street in Sydney.”
In addition the redevelopment will provide: expanded podium office floors providing campus sized floor-plates in the heart of the CBD, with the creation of an atrium to enhance natural light; open terraces on a number of the podium floors; the addition of eight food and beverage outlets in a north facing open public area; end of trip facilities for the benefit of the building’s occupants and sustainability initiatives enhancing the building’s performance.
Recent leasing success has ensured the building will maintain strong occupancy and lease duration over the mid and high rise floors while the refurbishment works are underway.
The redevelopment works will commence shortly and are targeted to be completed in late 2016.