Investa Office and CIMIC Group, through its company Leighton Properties have announced the achievement of practical completion at Melbourne’s newest landmark office building, 567 Collins Street.
The 26-level tower is the largest Property Council of Australia Premium Grade office building developed in Melbourne’s CBD during the past 25 years. This new-generation building offers connectivity, flexible floorplates, and premium grade services and amenities. It was completed on time and on budget by CIMIC’s Leighton Contractors.
The building has 26 levels of office space with a Net Lettable Area (NLA) of approximately 55,000sqm, and a two-storey high foyer comprising a lobby, cafe and retail component. It is located in the heart of Melbourne’s legal, commercial, insurance and finance precinct, and within 100 metres of Southern Cross Station.
The design of the first 10 floors of the building permits a campus-style tenancy that is flexible and provides a podium for the upper 16 levels.
567 Collins Street is nearly 80% committed with major anchor tenants including leading law firm Corrs Chambers Westgarth, Australian infrastructure company Jemena, Leighton Contractors, Regus and a state-of-the-art Virgin Active Health Club.
Corrs Chambers Westgarth has moved into the building, utilising the integrated fit-out completed by Leighton Contractors. Virgin Active and Leighton Contractors will move into the building in the coming weeks, and Jemena and Regus will relocate later in the year.
567 Collins Street is an example of Leighton Properties’ expertise in the development of sustainable buildings that are rich in architectural quality and feature high levels of amenity. Leighton Properties is very proud to deliver 567 Collins Street as it offers a distinctive design philosophy which provides tenants with a unique workplace culture, offering openness, transparency and a communal approach to business.
Investa Office Fund (IOF) and Investa Commercial Property Fund (ICPF) jointly acquired 567 Collins Street in Melbourne for approximately $462 million in March 2013.
Investa Group Executive and Fund Manager of ICPF, Peter Menegazzo, said: “567 Collins Street has been a great success on many fronts. The building has set a new, quality benchmark for tenants at the western end of the CBD, attracted a high quality customer base and achieved a strong occupancy rate by completion. These elements, combined with the timing of our acquisition, have resulted in an exceptional investment result for our unitholders.”
Corrs Chambers Westgarth Partner and CEO, John W.H. Denton AO, said: “Corrs is delighted to move to 567 Collins Street. It is the firm’s next big step towards occupying inspirational and innovative workspaces for our people and clients.
“As the first major Australian law firm to take the bold move towards an open and flexible work environment for all our people, it was important our new Melbourne workspace reflected our strategy and culture of openness and collaboration.
“The unique space at 567 Collins was chosen as a key enabler to this strategic vision for a connected, flexible and agile workplace, which fosters learning and knowledge sharing.
”The development has achieved a 5-Star Green Star – Office Design v3 rating and is targeting a 5-Star NABERS energy rating.