Cbus Property has received approval from the Department of Environment, Land, Water and Planning (DELWP) for a $1 billion office tower in Melbourne’s CBD.
The permit-approved Bates Smart-designed development, to be known as 435 Bourke Street, will comprise 59,000 square metres of office space across 49 storeys, encompassing four addresses on the corner of Bourke and Queen streets. The commercial precinct will amalgamate the existing 140 and 150 Queen Street and 27 McKillop Street sites and is anticipated to serve as a vertical village for more than 5,500 city workers.
Cbus Property’s Chief Executive Officer, Adrian Pozzo, said the project team was pleased to be able to proceed with the development, which would optimise the sites’ potential and create a new landmark for the city centre, as well as reinvigorate the Hoddle Grid precinct.
“Following collaborative design refinement with the City of Melbourne and the Department of Environment, Land, Water and Planning (DELWP), we are excited to receive planning approval for 435 Bourke Street and we are looking forward to developing the site,” he said.
Mr Pozzo went on to thank the councillors and The Hon. Minister Richard Wynne’s department for their endorsement of the proposal, saying that 435 Bourke Street would be a pioneer project for the city that responded to a future Melbourne workforce, with a focus on sustainability, wellness, connection to the public community, nature and productivity.
“These qualities will be emphasised in the building’s design and performance, which includes multiple vertical villages, outdoor terraces and a dedicated wellness hub to cater for the Melbourne CBD’s projected workforce, which is growing steadily and anticipated to require more than 4.4 million square metres of office space in the next two decades*,” he said.
“Office vacancy rates in Melbourne’s CBD are at decade lows and there is little to no office space in the pipeline beyond 2023 so we are looking forward to sating some of this appetite with 435 Bourke Street.**”
The approved tower will form part of a new centre point in the Hoddle Grid and will feature multiple landscaped terraces providing an outlook across the Yarra River and iconic CBD landmarks, such as the MCG and Port Phillip Bay.
Bates Smart director, Cian Davis, said the design balanced a premium workplace with sustainability and amenities that prioritised wellbeing.
“435 Bourke Street delivers a complete architectural and urban strategy, resulting in a contextual response where sustainability, wellness and connection to nature, and a premium workplace are at the fore. The design’s creativity and productivity have all come together to reinvigorate the Hoddle Grid. It is world-class architecture in a world-class city,” he said.
Bates Smart has designed 435 Bourke Street’s building form to ensure and protect daylight and sunlight access to public spaces, including the overlay-protected McKillop Street and the Yarra Corridor.
“Melbourne’s population is forecast to approximately double in the next 20 years. The city needs to be allowed to grow, and large-scale developments such as 435 Bourke Street are taking on new importance. Responsible density involves delivering projects such as this, close to existing transport and infrastructure,” Bates Smart director, Julian Anderson, said.
The tower is also planned to include a four-level wellness hub on McKillop Street, which will service 435 Bourke Street occupants and be accessible to the community. The diverse space will include a retail offering, double-height multi-function space for active wellness, flexible studio spaces and consulting rooms for passive wellness, as well as a rooftop garden retail offering. There will also be premium end-of-trip facilities, with accommodation for 600 bikes and associated amenities.
In line with Cbus Property’s commitment to net-zero emissions across its portfolio by 2030, 435 Bourke Street is targeting a 6-star Green Star rating, 5.5-star NABERS Energy rating and a Platinum WELL rating. As part of this goal, Bates Smart’s contemporary geometric design for the tower will enhance functionality, with curved floorplate edges to improve the building’s performance and the sculptural form allowing for sunlight in communal spaces.
Demolition of the site’s existing infrastructure has commenced, with construction completion slated for 2023.
*Please note: This figure is based on Property Council of Australia research.
**Please note: This figure is based on Property Council of Australia research.
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