ISPT Completes 271 Spring Street


Super fund-backed developer ISPT has completed a 16-level office tower at 271 Spring Street in Melbourne CBD.

The $164 million development, completed on schedule this month, combines A-grade office accommodation with function spaces, modern end of trip facilities and a rooftop terrace with views over north and east Melbourne.

The new building, delivered by Probuild, is built above the 1925-built Elms Family Hotel heritage building below.

John Wardle Architects collaborated with heritage architect Bruce Trethowan to consider site context and develop a scheme which would embrace the heritage values of the site.

“The opening of 271 Spring Street completes our long-term vision for the Lonsdale precinct, retaining and expanding upon the extensive history of this site,” ISPT chief executive Daryl Browning said.

Anchor tenant Australian Unity will enter its new Spring Street headquarters on schedule after agreeing to a 15 year term over the entire 15,600 square metres of the office building early-2017.

“We worked with Australian Unity to create a modern workplace and amenity for their teams, while restoring and integrating the surrounding heritage buildings,” Browning said.

Australian Unity’s chief executive Rohan Mead said the location and the quality of the new building’s design were both critical factors in Australian Unity’s decision to support the development.

“We are pleased to retain so many of the heritage features of the building, which have allowed us to bring aspects of our own 179 year history to life,” Mead said.

While heritage sensitive, the state-of-the-art office building also features a large solar PV panel array across its roof generating 70kW which will reduce energy consumption and operational expenditure as well as reduce carbon dioxide by an estimated 506 metric tonnes per annum.

The building also incorporates water minimisation and re-use initiatives.

ISPT is also pressing forward with $200 million vertical campus at Queen Street being built for Victoria University with demolition works on the site scheduled for December this year.


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