Cbus Property’s $1.25 billion mixed-use precinct, Collins Arch, is 100 per cent commercially leased and weeks away from welcoming its first commercial tenants from the start of April 2020.
Architecturally designed by New York-based SHoP Architects in conjunction with Woods Bagot, and constructed by Multiplex, the landmark dual-tower project at 447 Collins Street in Melbourne’s CBD will welcome several high-profile law firms and key corporate participants when the building’s commercial component, 447 Collins, opens its doors.
Cbus Property’s Chief Executive Officer, Adrian Pozzo, said the project’s premium commercial office tower offering of 49,870 square metres, which is co-owned by property fund manager ISPT and anchored by approximately 2,000 square metres of landscaped public realm, would play a pivotal role in the Collins Arch precinct becoming one of Australia’s larg largest and most successful mixed-use developments.
“When we set out to develop the commercial office component of 447 Collins in partnership with ISPT, we were confident it would attract the highest-calibre tenants across a range of sectors, intent on providing their employees with the amenity, workplace environment and vibrancy that comes with a next-generation workplace,” he said.
“As we prepare to welcome our new partners [tenants], we usher in a new era of commercial office life in Melbourne, one more focused on tenant and employee wellness, attraction and ongoing engagement through flexible workspaces and first-class amenity.”
ISPT’s General Manager for Commercial Services, Melinda van der Westhuizen, said the company was “delighted” with the market response to the outstanding commercial space.
“The office development is nearing completion and has attracted a strong mix of customers, predominantly top-tier law firms and private sector organisations. Flexible workplace options are catered for through a co-working component,” she said.
“The success of the leasing campaign was assisted by the iconic nature of 447 Collins Street; the architectural and service design, amenity and central Collins Street location position it as a landmark mixed-use development.”
International law firm King & Wood Mallesons was the first company to snap up space in the renowned development, committing to 9,200 square metres across levels 23 to 27, equating to approximately 20 per cent of the net lettable area in the commercial component.
It is one of four law firms, including Minter Ellison (10,760 square metres, levels 17-22), Gadens (5,400 square metres, part of levels 11-13) and HWL Ebsworth (6,500 square metres, levels 8-10), to lease space in the landmark project.
Singapore-based coworking company JustCo (levels 4-5), industry super fund Care Super (level 6), and sovereign wealth fund Future Fund (levels 14-16), are among other commercial tenants to progressively begin occupying 447 Collins Street from April 2020.
Colliers International’s national director for Office Leasing, Andrew Beasley, has been managing the leasing campaign since 2016 and said 447 Collins was one of the most successful campaigns the company had ever been appointed on.
“We are extremely proud to deliver such a successful outcome for our joint clients, Cbus Property and ISPT. It is a true testament to Cbus Property’s vision to deliver Melbourne with a quality mixed-use development,” he said.
“Cbus Property understood the key drivers for major tenants from the outset and delivered on these metrics, which is why we now have a fully committed office tower.”
447 Collins’ office design offers highly efficient floorplates of 1,800 to 2,300 square metres and includes large, landscaped external terraces, providing a diversity of workspaces. Tenants will benefit from expansive views to the south and state-of-the-art end-of-trip facilities, including 500 lockers, 500 bike spaces and 50 showers. Various retailers, also due to open progressively, will turn the precinct into a dynamic CBD hub for tenants and passers-by.
In line with Cbus Property’s commitment to net-zero emissions across its portfolio by 2030, 447 Collins will be Melbourne’s first WELL Platinum-rated commercial building upon practical completion. 447 Collins is also targeting a 5.5 Star-plus NABERS Energy rating and a 6 Star Green Star rating.
Collins Arch’s suite of environmentally sustainable design and wellness features includes high-performance floor-to-ceiling glazing, encouraging natural light; a wellness studio with access to direct natural light; best-in-class end-of-trip facilities exceeding 6 Star Green Star requirements; several electric vehicle charging stations; and enhanced, naturally lit egress/tenant-communication stairs.
Connected by a sky bridge at level 39, the eastern tower of the project will also feature 184 luxury residential apartments from level 16, anticipated to settle in September 2020; a five-star, 294-room W Melbourne hotel, anticipated to open to the public in December 2020; and a 1,500-square-metre Market Street park, anticipated to be unveiled at the end of 2020.
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