The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FIRST RELEASE TICKETS ON SALE FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FIRST TICKETS ON SALE FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
SEE DETAILSDETAILS
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
9
print
Print
RetailTed TabetTue 11 Oct 22

Hines Greenlit for $1bn All-Electric Office Tower

Hines $1bn Melbourne Office Tower

Global investment firm Hines has been granted Victorian government approval to build its $1-billion office tower in central Melbourne.

In a major vote of confidence for the sector’s post-pandemic prospects, Hines will deliver a 180m premium-grade office tower spanning 60,000sq m, to be known as 600 Collins.

It marks a quick turnaround time for a significant project. Hines lodged plans for the tower in early August. Work is expected to commence on site in December with completion earmarked for the first half of 2026.

The all-electric tower is targeting a minimum 6-star Green Star Green Building Council rating and a Platinum WELL Certification for shell and core.

Hines managing director Simon Nasa said that the tower would be one of the most energy efficient and sustainable buildings in Australia.

“This approval from DELWP in collaboration with the City of Melbourne validates our shared confidence in the continued strength of Melbourne CBD as a global city and home to Australia’s best businesses,” Nasa said.

Hines acquired the 2400sq m site, once slated to become the Zaha Hadid-designed home for the country’s first Mandarin Oriental hotel, from developer Landream at the height of the pandemic in late 2020. It is currently occupied by a four-storey retail and office building.

The deep-pocketed US investment house outlaid $200 million for the rectangular site in the heart of Melbourne’s commercial core that boasts more than  70m of frontage on Collins Street along with approval for an existing residential and hotel scheme.

Hines $1bn Melbourne Office Tower
▲ The tower will be the first fully electric commercial building in Australia according to Hines. Image: WilkinsonEyre, Architectus

“When we acquired the site in the height of Covid, we had the opportunity to define how the office could bring together the best elements of how people live, work, and play while outperforming the market in sustainability,” Nasa said.

“The building will be a destination shaped by experience, amenities, and our tenants partnering with us to create spaces that attract and retain the best talent. 

“600 Collins is setting the standard for how developments in Australia can be both environmentally responsible and cutting edge.” 

The midtown section of Collins Street already includes a slate of landmark towers developed by Investa, Mirvac and Cbus Property.

In the same block, on the opposite side of the street, local fund manager Charter Hall is advanced on 555 Collins Street—a $1.5-billion office development already pre-leased to blue-chip tenants Amazon and Aware Super. Singapore’s sovereign wealth fund GIC earlier this year secured a half stake in the project.

Hines’ approved biophilic office building, designed by architects WilkinsonEyre and Architectus, is Collins Street’s first new commercial tower to be designed since the pandemic and will be adaptable to the changing needs of a digitally enabled workforce.

It will include curated casual and formal food and beverage offerings, podium terraces, experiential end-of-trip facilities including a hotel-style reception lounge, showers, lockers, and bike parking, wellness centres, collaborative work zones, and dedicated green spaces.

It will also feature rooftop terraces and outdoor spaces, conferencing and collaboration zones.

Render of ground floor of Hines $1bn Melbourne Office Tower
▲ The building will have a 10-level podium, creating 2000-square-metre-plus floor plates. Image: WilkinsonEyre, Architectus

A new laneway will create a public thoroughfare through to Francis Street, the small road running parallel to Collins Street to the north. 

Hines’ plans for Collins Street is the result of a game plan set in motion more than five years ago as it divested a $650 million portfolio of four office towers in Sydney, Melbourne and Brisbane and swung its focus towards development.

The privately owned group, which manages $122 billion of assets globally, and currently has more than 198 developments underway around the world.

Its Collins Street development will be one of five projects it has currently in development across the Asia Pacific region.

Its activities in Australia include building a $200 million timber office tower at 36-52 Wellington Street in Collingwood and a 10-storey, 5000sq m boutique office building in Richmond.

The sustainably-focused developer plans to be carbon neutral across its global portfolio by 2040 without buying offsets.

In June, Hines announced plans to work to reduce carbon throughout its portfolio by electrifying fossil fuel-based systems within its buildings, utilising circular systems principles to reduce energy waste and increase system efficiency, and pursuing onsite and off-site renewables that promote renewable energy development. 

The group is currently establishing agreements with third-party partners to provide data to track progress on energy consumption and ongoing emissions reductions.

RetailResidentialOfficeHotelMelbourneAustraliaPlanningPlanningSector
AUTHOR
Ted Tabet
The Urban Developer - Journalist
More articles by this author
website iconlinkedin icon
ADVERTISEMENT
TOP STORIES
Darwin has sat dormant for a decade but the resource rich territory is “on the threshold” of a boom for resources and new cities. Weddel and Palmerston
Exclusive

NT Eyes Looming Boom as Planning Commissioner Bows Out

Renee McKeown
5 Min
Exclusive

Gold Coast’s Greatest Moments Yet to Come: Evan Raptis

Phil Bartsch
7 Min
MODEL founder Rory Hunter HERO
Exclusive

‘It’s Massive’: On Mission to Prove BtR Green Equals Gold

Leon Della Bosca
8 Min
Potts Point Coliving EDM
Exclusive

Co-Living Shrugs Off Stigma as Overseas Money Moves In

Clare Burnett
6 Min
Bankstown cbd in Sydney NSW EDM
Exclusive

Breaking Delivery Crisis Chokehold on NSW’s Biggest Housing Market

Vanessa Croll
7 Min
View All >
Kemps Creek Penrith EDM
Industrial

Frasers $281m Penrith Warehouse Precinct Greenlit

Clare Burnett
Paradiso Place Surfers Paradise hero
Residential

Surfers Paradise $1bn Triple-Tower Project Feasibility Juggle

Phil Bartsch
Darwin has sat dormant for a decade but the resource rich territory is “on the threshold” of a boom for resources and new cities. Weddel and Palmerston
Exclusive

NT Eyes Looming Boom as Planning Commissioner Bows Out

Renee McKeown
Energy megaprojects will reshape the territory if it’s done right, says the man who’s lead preparations for what’s comin…
LATEST
Kemps Creek Penrith EDM
Industrial

Frasers $281m Penrith Warehouse Precinct Greenlit

Clare Burnett
3 Min
Paradiso Place Surfers Paradise hero
Residential

Surfers Paradise $1bn Triple-Tower Project Feasibility Juggle

Phil Bartsch
4 Min
Darwin has sat dormant for a decade but the resource rich territory is “on the threshold” of a boom for resources and new cities. Weddel and Palmerston
Exclusive

NT Eyes Looming Boom as Planning Commissioner Bows Out

Renee McKeown
5 Min
Office

Centennial Seals $50.5m Deal for Adelaide Tower

Lindsay Saunders
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/hines-approved-600-collins-street-melbourne-office-tower