11 Nov 2015

Cbus Property pushes its cop shop plan

Superannuation fund-backed Cbus Property is progressing plans to develop a new headquarters for the Victorian Police on a site in Melbourne’s Spencer Street it owns with Australia Post.

The Victorian government said the proposal by Australia Post and Cbus Property had moved to stage three of the government’s five-stage process for assessing planning proposals. The plans will now be publicly available.

“The Andrews Labor government is committed to a robust and transparent process when it comes to market-led proposals, such as this one for a secure police precinct at the west end of the CBD,” state Treasurer Tim Pallas said. “While the concept of a consolidated police precinct has merit, we will ensure that this project offers value for money to Victorians before any deal is done.”

The planned project, at 311 Spencer Street, would be close to the $240 million City West Police Complex that Cbus also developed. If the government passes the plans, Victoria Police would move from the World Trade Centre, where its lease expires in 2020.

Cbus Property is pursuing a host of projects around Australia as it seeks to bolster its development pipeline.

The group plans a major mixed-use project at 447 Collins Street, while it is bidding for the rights to develop a 200m apartment tower in the heart of the Melbourne CBD being tendered by the City of Melbourne council.

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