The $1.3 billion development will comprise five commercial towers situated on a 10,000 square metre retail podium, as well as the complete refurbishment of the city’s historic Southern Goods Shed.
Designed by leading architecture firm Bates Smart, the five commercial towers boast over 185,000 square metres of prime commercial space and will target a 5 Green Star and NABERS rating.
It is anticipated that upon completion, over 48,000 people a day will visit the project’s Buchan Group-designed retail hub, which will feature an expansive food court, cafés and restaurants, fashion and specialty retail stores as well as a grocery retailer.
Construction is well underway, with over 40 percent of commercial space already leased to major tenants including Marsh Mercer Companies, the Australian Tax Office and the Pearson Group.
Chairman of Walker Corporation, Lang Walker, said the project will serve as a bridge between Docklands and the booming north bank of the Yarra River.
“We are trying to create the new heart of Docklands,” Mr. Walker said.
Mr. Walker also added that there were a number of takers for larger areas of office space.
”On the retail [front], we are talking to the supermarkets about being an anchor tenant,” he said.
”Once you get started on the project and people see what is happening, that brings more interest.”
The restoration of the 121-year-old Goods Shed is also in progress, with architects BVN planning to retain its heritage-listed features such as high ceilings, clerestory windows, exposed trusses, brick work and cast iron columns.
Owned by Lorenz Grollo’s Equiset, the refurbishment of the Goods Shed alone is expected to cost over $65 million.
It is predicted that the Collins Square project will be complete within the next five years.