The first new redevelopment in Melbourne’s Bourke Street Mall for more than 50 years has finally broken ground, paving the way for the revitalisation of an historic CBD destination.
Steadfast Capital’s mixed-use project, Melbourne Walk, formerly known as The Walk Arcade, encapsulates eight separate buildings between Little Collins Street and Bourke Street Mall.
The $200 million rejuvenation plans include an expansion topping the precinct with 450 hotel rooms across two properties—a 180-room Hotel Indigo and 270-room Holiday Inn—along with a public rooftop bar and private gym for guests.
Below, across three levels, Melbourne Walk will bolster the retail offering of one of the city’s busiest shopping precincts, with high-exposure frontages expected to draw international flagship and high-end concept stores.
Architecture firm Buchan was tapped to design the 11-storey project and Hickory has been appointed as the builder to bring it to life.
The north-south pedestrian shopping link will allow shoppers to enter from Collins Street and browse through David Jones, Myer and Emporium before exiting on to La Trobe Street through Melbourne Central.
Several Bourke Street facades—including Diamond House, Public Benefit Bootery, Allans Building and York Building—will be retained and restored as part of the project.
“Melbourne Walk is set to become a hotspot for residents and visitors alike,” Steadfast Capital executive director Teck-Lay Tay said.
“We’re very pleased to be breathing new life into such an iconic part of Melbourne.
“Our work together with Hickory and Buchan will add an attractive destination to the Melbourne CBD.
“A comprehensive variety of retail and hospitality options will draw patronage into the Bourke Street Mall precinct.”
Development advisor Shorea Capital’s Eugene Teo said Melbourne Walk would “enjoy pride of place in the heart of Melbourne’s famed retail precinct, Bourke Street Mall”.
“Through Melbourne Walk, we aspire to connect people to the vibrant Melburnian atmosphere whilst embracing and celebrating the local street art culture,” he said.
Hickory is aiming to fast-track construction across the 3600sq m site to minimise disruption in the busy CBD location.
“We are excited to officially break ground on Melbourne Walk, an iconic project that will expand, connect, and revitalise this historic destination,” Hickory managing director George Abraham said.
Under a major change to Melbourne’s planning scheme, 121 buildings and five precincts in the heart of the city will be given heritage status.
Hardware Lane, Flinders Lane, Melbourne House on Little Bourke Street, the Lyceum Club, Hill of Content bookstore, the Swiss Club of Victoria on Flinders Lane and Hosie’s Hotel (built for the 1956 Olympics) are all among buildings ear-marked for heritage protection.
The precinct Flinders Lane East—which includes AC/DC Lane and other tourist-popular, art-covered walls—is one of five precincts subject to new planning controls.
