Melbourne Quarter’s final commercial tower approved: planning for growing demand
Lendlease have received planning approval to build its third and final commercial tower at Melbourne Quarter.
Two Melbourne Quarter, a 25-storey office tower at 697 Collins Street, will feature 49,000sqm of total office space, sufficient to accommodate around 4,500 new workers and 800sqm of retail space on the ground floor.
Mark Menhinnitt, Lendlease managing director of urban regeneration and infrastructure development, said planning approval for the Woods Bagot-designed tower coincided with a period of strong demand for high-quality office space in Melbourne’s CBD.
“Lendlease has seen strong leasing activity push the national CBD vacancy rate to its lowest level in four years, and with a predicted shortage of prime grade contiguous office space in the near future, this has helped spur on pre-commitment activity,” he said.
“This project will cater for the continued growth and strong tenant demand for new office space in Melbourne as both national and global businesses target the new supply of buildings coming to market in the city’s CBD.
"Two Melbourne Quarter will open out on to a new public plaza on Collins Street, a centerpiece of the Melbourne Quarter precinct, and will also feature a four-storey public staircase connecting to Aurora Lane.
“Next year will see the completion of the precinct’s first office tower, One Melbourne Quarter, which will be home to our new Lendlease Victorian headquarters in September.”
In addition to 130,000sqm of agile office space for more than 12,000 employees, more than 50 percent of the Melbourne Quarter precinct will be open space.
Two Melbourne Quarter will target leading sustainability outcomes in water consumption, waste management and indoor environment quality, including a 6 Star Green Star rating and a 5 star NABERS energy rating.
Two Melbourne Quarter is one of seven commercial and residential buildings planned for the development. Activity continues to forge ahead on site, with the precinct’s first residential tower East Tower under construction.