National Storage Operations is betting on Collingwood’s evolving residential landscape, filing a $45-million plan to transform a graffiti-covered warehouse into a mixed-use development.

The self-storage operator has lodged its proposal with the City of Yarra for a multi-storey complex at 128-144 Wellington Street that would combine storage facilities with retail outlets and hospitality tenancies.

The HAL Architects-designed building would feature vertical greenery and extensive glazing across three ground-floor retail spaces below 24-hour self-storage facilities.