Final approval has been granted to super fund Cbus Property to build their $600 million-plus Victorian police headquarters project.
The 65,000-square-metre tower will become state's first purpose-built headquarters in more than half a century, according to the Australian Financial Review.
"The way our authorities fight crime is changing, and we're giving them the modern tools and resources they need," Planning Minister Richard Wynne told the AFR.
"This project ticks all the boxes. It's in keeping with our planning controls and it's a big benefit to the state of Victoria."The project’s plot ration of almost 22:1, will exceed the city’s limit of 18:1 which was put in place to limit the density of development on city sites, however the project’s approval meant the authorities behind the decision were convinced that the new headquarters would be a positive addition to the city.
Victorian Police Centre Moves Forward For Approval After Strong Backing]This exception to the project’s ratios came as a result of new planning rules that allow developments that, despite exceeding guidelines, will bring great public benefit to its location.
The 39-storey tower will rise next door to a smaller police station that Cbus Property has already developed on Spencer Street, at the western end of Melbourne's CBD.
The new centre will be home to 2500 personnel and will be occupied by state and federal police.
The AFR said Cbus Property has already had success on the former Australia Post site, selling down a $115 million half stake in the City West police station already developed there to funds giant Invesco.
“The way our authorities fight crime is changing, and we're giving them the modern tools and resources they need,” Mr Wynne said.