Mirvac and Suntec's Olderfleet Melbourne project tops out

Mirvac Group and co-owner Suntec Real Estate Investment Trust have announced the topping out and completion of the main structural works at its Melbourne project Olderfleet.

The 38-level building at 477 Collins Street, Melbourne consists of 58,000 square metres of premium-grade office and retail space and was designed by Grimshaw. 

Mirvac’s General Manager, Development, Simon Healy, said the project had topped out on time, with practical completion expected in mid-2020. 

“This milestone marks another achievement for Olderfleet, which has seen strong interest from our tenants with a range of high calibre brands pre-committed, bringing the tower to 94% leased,” Healy said.

“Mirvac’s vision to create one of Australia’s leading smart buildings, rising out of the heritage façade at Olderfleet, has struck a chord with the Melbourne market.

“Set to become an exemplar of modern working environments, the building integrates leading technology, sustainability and amenities that will include a wellness offering and childcare centre.”  

Brands already committed include Norton Rose Fulbright, Lander & Rogers, Urbis and anchor tenant Deloitte.

“Olderfleet presents a rare opportunity for premium office space in the tightening Melbourne rental market,” Healy said.

“Since Mirvac’s construction commencement, there has been a surge of interest in the midtown area of the CBD, with the precinct surrounding Olderfleet coming to life with restaurants, bars, shopping, and health and wellbeing facilities for workers and the community. 

“Mirvac has a pipeline of projects in Melbourne including 383 La Trobe Street.

“This future, next generation office tower provides yet another opportunity for Mirvac to set new benchmarks in workplace design and contribute to the dynamic and evolving urban landscape within the Melbourne CBD.”

Mirvac has already pre-committed two of the five retail spaces at the Olderfleet building and has had strong enquiries for the remaining spaces, including a foyer café, two-level tenancy at the heritage entrance and a laneway offering on Flinders Lane, Healy said.

Deloitte’s Managing Partner, Victoria, Paul Rehder said: “We’re really excited to reach this key milestone for our new home at 477 Collins Street– a workplace signalling Deloitte’s position as the undisputed leader in professional services and a magnet for what we can offer clients and employees, both professionally and personally.  

“The future of work is moving towards human-centred, technologically driven workplaces – trends that reflect the convergence of work and life to enhance employee wellbeing.

“The building is purposefully designed to encourage co-creation and innovation, and it will set a new standard for employee experience as the way our people work becomes more automated, agile and collaborative.” 

Lander & Rogers’ Chief Executive Partner, Genevieve Collins, said: “Innovation and technology are transforming the legal profession and this provides an exciting opportunity for firms that are prepared to seize it. 

“This involves more than simply investing in IT infrastructure: we need to evolve how we work – with our clients, each other, and within our broader community.

"Internally, our people tell us they want an environment that accommodates complete mobility.

“They want areas for digital and face-to-face collaboration as well as spaces conducive to individual focus.

“An agile, connected workplace is at the very core of Lander & Rogers' long-term strategy and our move to 477 Collins will help us fully realise that." 

Olderfleet is committed to a 5 Star Green Star rating, a 5 Star NABERS energy rating and a Platinum WELL Certification.