Investa Files Plans for Melbourne CBD Office Tower

A Flinders Lane multi-storey car park would give way to twin 28-storey office towers under plans filed by Investa in the Melbourne CBD.

Investa’s ICPF Nominees Pty Ltd has filed an application for the office tower at 522-552 Flinders Lane with the state department.

The site is near intersection of Flinders Lane and King Street in a once less-than-salubrious part of the city that is bcoming a focus of development activity

Much of it was prompted by Grollo Group founder Lorenz Grollo’s bid to clean up King Street by buying up nightclubs and stripclubs.

The Hassell Studio plans comprise the 28-storey twin towers atop a 33m-high podium and would offer 40,695sq m of office floor space.

There would also be 720sq m of end-of-trip space, 210sq m of retail space and 688sq m of co-working space. 

The co-working space will include a breakout rooms, meeting spaces and a kitchen area.

Under the plans, there would be 68 car parking spaces and 374 bicycle storage spaces across two basement levels. 

End-of-trip facilities, a business lounge and retail tenancies would be on the ground floor, which will be partially split into lower and an upper ground levels.

workspaces in the podium would have access to outdoor terraces.

There is a garden rooftop terrace planned for the seventh floor, atop the podium.

The project aim to help the City of Melbourne’s strategy to reduce car dependency within the CBD by reducing the car parking spaces on the site by 930.

It is also close to several public transport systems including tram and bus services, and the Southern Cross Station.

Nearby on Spencer Street are two key projects: the Sir Charles Hotham Hotel redevelopment and the Batman on Hill Hotel redevelopment.

Further down the block at the corner of Flinders and King streets is the Waterside Hotel redevelopment while Grollo Group is looking for a joint-venture partner to develop on its site of four buildings on King Street between Collins Street and Flinders Lane.

With an estimated cost of more than $50 million, the application has been lodged with the Victorian Department of Transport and Planning.

It has been referred oo the City of Melbourne for its opportunity to review and respond to the application but the final determination will be made by Victorian planning minister Sonya Kilkenny. 

Documents submitted to the state department list Investa as the owner of the site while CoreLogic property records showing the site last exchanged hands in September, 2019 for $96 million.  Settlement occurred in October 2019.