The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FULL PROGRAM RELEASED FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FULL PROGRAM RELEASED FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
VIEW FULL AGENDADETAILS
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
5
print
Print
OtherTed TabetThu 03 Feb 22

Mirvac Plans Revamp of Collins Street Tower

d8c22648-9a00-42db-b060-f93bc9e64672

Mirvac is planning to extend a prominent high-rise office tower in central Melbourne as tenant demand rises and workers continue to return to the CBD.

The ASX-listed developer plans to refurbish the office building at 90 Collins Street as well as extending it with plans to add 15 levels to the 21-storey tower.

The redevelopment, designed by Fender Katsalidis, aims to strengthen the CBD asset in Collins Street’s sought-after Paris end.

Mirvac general manager of office Andrew Butler said the application complimented the developer’s recent sustainability milestone, hitting net positive carbon nine years ahead of its intended 2030 target.

“Maintaining and refurbishing our existing assets, rather than opting to demolish them, means that we can retain the embodied carbon in the building,” Butler said.

“This fits our ‘whole-life carbon’ portfolio approach, where we consider the carbon emissions produced over the entire lifecycle of a building.”

Mirvac picked up the 21,000sq m tower as part of a $580-million, seven-property deal with GE Real Estate Investments in 2013.

The building, constructed in 1988 and last refurbished in 2011, was occupied by blue-chip tenants Westpac and VicSuper at the time of Mirvac’s acquisition.

It is currently occupied by Banner Asset Management, the British Consulate, Greencape Capital and Greens MP Adam Bandt, among others.

▲ Its ground floor will also feature a new laneway cut-through connecting Alfred Place and Little Collins Street. Image: Fender Katsalidis


Mirvac’s ambitious plans demonstrate its confidence in the strength of Melbourne’s return-to-the-office.

At the close of the year, Melbourne CBD towers were 12 per cent occupied but 88 per cent leased.

Nevertheless, confidence has increased, backed by hard evidence, and reflected in both increased office investment and raised development ambitions.

The redevelopment will enable Mirvac to provide office accommodation to up to 3500 workers, while also upping the building’s end value to $650 million.

Butler said the additional 15,000sq m of office space planned for the building would be in high demand as companies looking to return to the office considered the needs and wellness of staff.

​​“We believe that high-quality, tech-enabled office spaces with best-in-class sustainability credentials will be in high demand in Melbourne as the city continues to open back up following the impacts of the pandemic,” Butler said.

Fender Katsalidis director Nicky Drobis told The Urban Developer the extension was the result of an exciting yet complex design process.

“This project promotes community engagement and interaction via its ‘third spaces’; a series of highly accessible mixed-use communal meeting and leisure areas,” Drobis said.

“Coupled with the revitalised laneway access, the new precinct will contribute to the lively atmosphere of the entire city block.”

Mirvac’s Collins Street application follows planning approval to refurbish its 380 St Kilda Road office building.

The developer has continued to advance its significant $12.9-billion commercial and mixed-use development pipeline with $2.4 billion now centred in Melbourne.

OtherOfficeAustraliaMelbournePlanningPlanningSector
AUTHOR
Ted Tabet
The Urban Developer - Journalist
More articles by this author
website iconlinkedin icon
ADVERTISEMENT
TOP STORIES
Exclusive

Accor Deputy Delivers Verdict on Brisbane Games Hotel Shortfall

Phil Bartsch
6 Min
Qld Budget 2025-26 Brisbane City
Exclusive

Billions Promised, Now Deliver: Industry’s Qld Budget Verdict

Vanessa Croll
6 Min
Medium Density housing in NSW
Exclusive

NSW Budget ‘Groundbreaking’ $1bn Guarantee to Unlock Housing

Leon Della Bosca
7 Min
Exclusive

Azure’s Trent Keirnan on Playing the Long Game

Taryn Paris
5 Min
Exclusive

Private Credit Surge, Skittish Buyers Force Banks to Loosen Presale Rules

Taryn Paris
5 Min
View All >
Residential

Scape Scoops Up Aveo in $3.85bn Deal

Taryn Paris
the rooftop pool of an apartment building in kangaroo point by mosaic property group
Residential

Mosaic Forgoes PR, Secures $205m Kangaroo Point Sales

Renee McKeown
Exclusive

Accor Deputy Delivers Verdict on Brisbane Games Hotel Shortfall

Phil Bartsch
The city needs 30,000 more rooms before 2032—Jean-Jacques Morin says there’s still time, “but I hope you’ve put money as…
LATEST
Residential

Scape Scoops Up Aveo in $3.85bn Deal

Taryn Paris
3 Min
the rooftop pool of an apartment building in kangaroo point by mosaic property group
Residential

Mosaic Forgoes PR, Secures $205m Kangaroo Point Sales

Renee McKeown
2 Min
Exclusive

Accor Deputy Delivers Verdict on Brisbane Games Hotel Shortfall

Phil Bartsch
6 Min
A workman on scaffolding at Kingloch Parade in Wantirna.
Development

Kingloch Parade Pushes Through Industry Headwinds

Partner Content
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/mirvac-collins-street-development-application