ICPF leases over 14,000 sqm at 120 Collins Street, Melbourne with major building revitalisation project underway.

Investa Commercial Property Fund (ICPF) has recently finalised over 14,000 square metres of leasing transactions at 120 Collins Street, Melbourne. In addition to these transactions, 120 Collins is going through an exciting revitalisation of its lobby, seamlessly integrating the heritage listed professional chambers building and further adding to the appeal of the prominent asset. 

Global leader in asset management and investments, Franklin Templeton has relocated their Melbourne CBD premises to secure over 1,500 square metres at 120 Collins Street, attracted by the future refurbishment of the Building, that will provide superior amenity for their employees. The Building will also welcome an undisclosed tenant, who has leased over 1,100 square metres for a seven-year term in the sky rise section of the Building.

Amid the recent leasing success 120 Collins is about to commence works on a $35 million revitalisation project that will include a significant ground floor precinct refurbishment, redesign of the courtyard gardens and the creation of a sky deck for increased tenant amenity. 

The revitalisation project, designed by Hassell, will transform the ground plane of 120 Collins with a prominent new double height entrance from Collins Street and integration with the heritage listed professional chambers building, bringing warmth and increased light to the space through a vast skylight and full height new glazing to the western façade. 

The newly constructed mezzanine space within the lobby will provide tenants with bookable meeting rooms and a breakout area providing new ways of working for tenant employees and provide an extension of their office spaces. 

The revitalisation project has been supported by research undertaken by Investa of Australia’s major capital city office businesses which indicated 89% of Australia’s office-based business sector reported employee wellbeing as an important factor impacting their workplace decisions. In response to current tenants’ desires for an increase in outdoor space,  the project will also include the creation of a ‘Sky Deck’ above the ground floor lobby. 

The sky deck can be used by tenants to enjoy as an exclusive event space for approximately 150 people and will include full catering facilities.  

Brendan Looby, Fund Manager ICPF said: “The strong leasing performance that continued at 120 Collins throughout pandemic reflects the high-quality amenity and services provided by the building and management team. We look forward to commencing the revitalisation project that will further increase value in the building and provide more amenities to our tenants in the future.”

Toli Prantzos, General Manager 120 Collins said: “The revitalisation of the lobby will be transformative for the building and will allow us to meet our key objectives of providing further  premium amenities to our tenants. The improvements will allow our tenants to elevate how they present their businesses and respond to increasing demand for facilities which support  employee wellbeing and flexibility and enable more ways to  connect and collaborate outside of the space they lease.” 

Located at the desirable ‘Paris-end’ of Collins Street, 120 Collins is an iconic, premium-grade office tower with unsurpassed services and amenities. Spanning 50 levels, the building has NLA of more than 64,000 square metres. With its luxury European boutiques and easy access to Flinders Lane, Chinatown and Bourke Street, the location is also well-serviced by public transport. 

Learn more about the lobby revitalisation project under the 120 Collins property page.