The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
25 DAYS UNTIL OUR UNMISSABLE FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
25 DAYS UNTIL OUR FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
SECURE YOUR SPOTDETAILS
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
print
Print
RetailAna NarvaezTue 21 May 19

Developer ‘Accelerates’ CBD Office Towers to Meet 2022 Demand

1b64df02-3650-4a26-9077-ec5bfe036424

Charter Hall is accelerating the construction of 555 Collins Street to meet a “key spike” in the expiry of commercial leases in Melbourne’s CBD.

The developer says it expects the demand for about 700,000sq m of leased space to peak in 2022 and is taking the “proactive approach” by commencing demolition early.

“It puts us in a position to deliver within this window of expiries,” Charter Hall development director Simon Stockfeld said.

The $13 million demolition contract has been awarded to contractor Delta Group.

The property fund manager tapped US firm Gensler to design the 35-storey office tower at 555 Collins, submitting a development application for the site in mid-April.

The first phase of the project will deliver 45,000sq m of technology-enabled office space to Melbourne’s financial district.

Related: Dexus Seizes Whole Block in $1.48bn Deal

The towers Charter Hall plans to develop, totalling 80,000sq m, will be tech-heavy, integrating “smart” technology with research on connected workplaces.Gensler, Cox.


Charter Hall acquired 555 Collins Street for $140 million in October from Fragrance Group, creating a 4,620sq m strategic land holding in the western core of Melbourne’s CBD.

Charter Hall’s prime office fund owns neighbouring 55 King Street.

“The existing 555 Collins Street building is vacant, allowing us to hit the accelerator to meet completion deadlines,” Stockfeld said.

The Cox Architecture and Gensler-led design will “activate” the ground plane by adding public connections between Collins Street, King Street and Flinders Lane and a retail hub.

The demolition contractor Delta is already onsite, setting up perimeter gantries and erecting a tower crane. Completion is slated for mid-2022.

The 35-storey building is targeting 6 Star Green Star, 5 Star Nabers Energy and Platinum Well certification.

Charter Hall has appointed JLL and Colliers as leasing agents.

RetailOfficeAustraliaMelbourneConstructionReal EstatePlanningPlanningResearch
AUTHOR
Ana Narvaez
The Urban Developer - Editorial Director
More articles by this author
ADVERTISEMENT
TOP STORIES
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
6 Min
Molti chief Ben Teague out front of 32 Mercer Road Aramadale (rendering)
Exclusive

Buy to the Sound of Cannons: Molti’s Counter-Cyclical Move to Melbourne

Leon Della Bosca
5 Min
Exclusive

Tapping the Bunnings ‘Halo Effect’

Taryn Paris
5 Min
Exclusive

‘Construction Not a Scale Game’: Hutchinson

Phil Bartsch
9 Min
Nation's build-to-rent project Charlie Parker in Sydney's Parramatta where more projects are being located and built outside the CBD.
Exclusive

Foreign Capital Still Dominates BtR but Things are Changing

Marisa Wikramanayake
7 Min
View All >
ESR building ESR completes delisting
Industrial

ESR Reveals New Team After Hong Kong Delisting

Leon Della Bosca
Bunnings Clyde North
Markets

Bunnings Sold On as Charter Hall Doubles Down on Retail

Leon Della Bosca
the four concept towers approved for sydney metro's parramatta precinct
Development

Rush of Approvals Sends Parramatta Skywards

Renee McKeown
Two projects of six towers, including a 47-storey build-to-rent scheme, have moved ahead as Sydney’s second CBD grows up…
LATEST
ESR building ESR completes delisting
Industrial

ESR Reveals New Team After Hong Kong Delisting

Leon Della Bosca
3 Min
Bunnings Clyde North
Markets

Bunnings Sold On as Charter Hall Doubles Down on Retail

Leon Della Bosca
2 Min
the four concept towers approved for sydney metro's parramatta precinct
Development

Rush of Approvals Sends Parramatta Skywards

Renee McKeown
2 Min
The construction site which will one day become Newcastle Tallest Tower by Urban Property Group
Residential

Urban Property Group Reveals Newcastle Tallest Tower Plan

Renee McKeown
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/developer-accelerates-cbd-office-towers-to-meet-2022-demand--