Lendlease

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Following on from last week's Docklands construction update on <a href="https://www.urban.com.au/news/docklands-update-june-2016-newquay-and-harbour-town">NewQuay and Harbour Town</a>, is an update on the Victoria Harbour precinct being delivered by Lend Lease. Construction has been constant on the peninsula site, just as one project is finishes another begins.

At the moment construction is centred largely to the west with a series of large scale residential buildings at various stages of their construction programmes. The built form of the precinct will continue to edge ever closer to the Bolte Bridge as the final stage known as Collins Wharf gets underway.

The current projects below will between them provide over 1500 apartments within the precinct.

<h2>The Residences</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/theresidencesvh.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="186" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/theresidencesvh.jpg?itok=ikHAEUj5" width="580"></a>

<figcaption>The Residences at Victoria Harbour</figcaption></figure>Located behind Forte, the boutique development known as 'The Residences' comprises six luxury freehold terrace homes nestled within the heart of Victoria Harbour, and located on Geographe Street. The materiality of the individual homes reflects the materials of the surrounding context, with Melbourne bluestone grounding the houses in the active laneways and parkland and the timber screens softening the façade and introducing a natural element.

The project is progressing with the townhouses reaching their full height and installation of the timber screens commencing.

<h2>888 Collins Street</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/888_collins_street.jpg" rel="gallery-all" title="88 Collins Street progress."><img alt="" class="image-article-full-width-580px" height="409" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/888_collins_street.jpg?itok=ke4DjLXl" title="88 Collins Street progress." width="580"></a>

<figcaption>88 Collins Street progress.</figcaption></figure>888 Collins Street, which commands the corner site where Bourke and Collins Street converge at the waterfront has topped out with facade installation across both buildings now complete. Testing of the LED lighting display on the shorter building continues and retail fitout to Bourke Street is yet to commence.

Along with the Concavo building, 888 Collins Street completes the Bourke Street streetscape.

<h2>839-889 Collins Street</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/839-889_collins_street.jpg" rel="gallery-all" title="839-889 Collins Street progressing well"><img alt="" class="image-article-full-width-580px" height="409" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/839-889_collins_street.jpg?itok=JPh56OLo" title="839-889 Collins Street progressing well" width="580"></a>

<figcaption>839-889 Collins Street progressing well</figcaption></figure>Four towers consisting of two sets of twins sit atop massive podia with frontages to the Yarra River and Collins Street is progressing well with facade installation commencing on the western half of the project and the tower floorplates beginning to rise. The podiums feature a combination of timber and brick spandrels providing the project with a historical and site specific contextual response, referencing the maritime history of the Docklands.

The project has a whopping 1,070 apartments.

<h2>No.1 Collins Wharf</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/collins_wharf_site.jpg" rel="gallery-all" title="No.1 Collins Wharf. Photo courtesy of Redden"><img alt="" class="image-article-full-width-580px" height="294" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/collins_wharf_site.jpg?itok=AmRSUiRA" title="No.1 Collins Wharf. Photo courtesy of Redden" width="580"></a>

<figcaption>No.1 Collins Wharf. Photo courtesy of Redden</figcaption></figure>1 Collins Wharf is the latest Victoria Harbour project to reach sales with early works progressing in preparing for construction. Given Lend Lease's record it's a fair assumption that 1 Collins Wharf may well keep rolling into construction, adding another 321 apartments to the area.

<h2>Who's next?</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/imagepreview_2.jpg" rel="gallery-all" title="A new hotel for Victoria Harbour?"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/imagepreview_2.jpg?itok=hqxRzWHc" title="A new hotel for Victoria Harbour?" width="580"></a>

<figcaption>A new hotel for Victoria Harbour?</figcaption></figure>Seen above is one of a number of concept images for the remaining land parcel at 839 Collins Street. While the possibility of a boutique hotel remains, recent talk has shifted toward another commercial complex for the site, quite possibly in order to expand the presence of ANZ which maintains its headquarters next door.

Whatever its final use, 839 Collins Street shapes as the next project for Victoria Harbour.
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Laurence Dragomir

Docklands update June 2016: Victoria Harbour

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City of Melbourne's Future (Planning) Committee convened last week to consider the merits of the tri-tower residential development that forms part of developer Lend Lease's $1.9 billion Melbourne Quarter development fronting Collins Street. The Committee resolved to provide conditional support for the Fender Katsalidis-designed towers, with final approval from Planning Minister Richard Wynne likely to follow as the development does not overshadow Southbank and has its own planning controls in place.

This follows the Minister's approval of the first stage of Melbourne Quarter last month which features a commercial building of 25,000sqm and a 2,000sqm sky park to be built above Collins Street. Lend Lease secured engineering firm Arup for the building known as One Melbourne Quarter.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/skypark.jpg" rel="gallery-all" title="Skypark and One + Two Melbourne Quarter. Images: Lend Lease"><img alt="" class="image-article-full-width-580px" height="288" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/skypark.jpg?itok=2YxWz-hO" title="Skypark and One + Two Melbourne Quarter. Images: Lend Lease" width="580"></a>

<figcaption>Skypark and One + Two Melbourne Quarter. Images: Lend Lease</figcaption></figure>The proposal for the Flinders Street neighbourhood comprises two residential towers of 136 metres known as R1 and R2 and a shorter 58m building adjacent to the Batman’s Garden park. While Council are generally supportive of the height and form of the towers, which are in keeping with the approved development plan, there is a degree of concern that a uniform and singular visual expression will result in a greater visual dominance and mass on the skyline.

<blockquote>
While the general bulk, height, setbacks and scale of the proposed buildings are supported, there is concern about the uniform materials, in particular to R1 and R2. To limit the visual dominance of the two towers it is recommended that there be a greater differentiation between R1 and R2 through a combination of variations in height, podium / tower distinction, diversity of materials and varied upper level setbacks  
<cite>Future Melbourne Committee Report</cite>
</blockquote>

As per the recommendations of the report a variation in height and facade articulation and materiality looks to be a likely outcome. Further to this the applicants have been asked to provide additional 3D renders and 1:50 detailed elevations for the lower sections of the towers to ensure that the buildings are designed with an active and engaging interface with the public realm. 

The towers feature a diverse mix of housing options with a total of 595 x 1 bedroom, 1014 x 2 bedroom, 27 x 3 bedroom apartments and 6 x studio apartments. Despite this, council have also raised concerns about the layouts of some apartments and the quality of amenity to them, namely  borrowed light to the certain studio apartments and ‘saddlebag’ bedrooms.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image29_4.jpg" rel="gallery-all" title="Render and plan for Melbourne Quarter's residential emelent. Image: Lend Lease"><img alt="" class="image-article-full-width-580px" height="282" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image29_4.jpg?itok=xk1ibpRm" title="Render and plan for Melbourne Quarter's residential emelent. Image: Lend Lease" width="580"></a>

<figcaption>Render and plan for Melbourne Quarter's residential emelent. Image: Lend Lease</figcaption></figure>Meanwhile, rumours abound that Lend Lease are also in negotiations with hotel operator W Hotels for the Melbourne Quarter site. 

Should a hotel eventuate within Melbourne Quarter it would also add further diversity to the precinct. Melbourne Quarter would be the third (known) site investigated by W Hotels after previously considering the Savoy site at 134-160 Spencer Street and the failed development on the site of the Palace Theatre.

Construction on the Melbourne Quarter development is expected to begin in earnest later this year, beginning with One Melbourne Quarter and the Skypark. The next stage, construction of C2 / Two Melbourne Quarter, the North-South Link and the City Room, are expected to be lodged soon following pre-application meetings.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/img_2181.jpg" rel="gallery-all" title="Lend Lease on the move on Collins Street"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/img_2181.jpg?itok=oSdTRPmb" title="Lend Lease on the move on Collins Street" width="580"></a>

<figcaption>Lend Lease on the move on Collins Street</figcaption></figure>Melbourne Quarter's emergence follows on from Lend Lease's successful residential cluster further west along Collins Street. 888 Collins Street is the area's tallest building and has seen its final facade elements added whilst the sizeable 839-889 Collins Street has made rapid progress dureing the early stages of 2016.

Combined these two projects contain in excess of 1,300 apartments, with Melbourne Quarter likely to yield another 1,600 dwellings.
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Lend Lease's Melbourne Quarter granted City of Melbourne support

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GUEST OBSERVER
It’s reporting season, and over the past few weeks some of Australia’s biggest companies have been releasing information on how they’re travelling. These reports reflect key themes of how things are going in key sectors of the economy. Over coming days we’re going to report on the results a handful of major companies in key sectors, transport, construction, retail, mining, insurance and banking. Today we look at the construction sector.
A sluggish building climate in Australia, influenced by a slowdown in mining construction, is leading the biggest companies in the construction sector to trim costs, pursue smaller projects and divest in larger non-performing ones.
Building and construction represents an important part of the Australian economy directly accounting for approximately 8-12 percent of total economic activity. Of that activity, approximately half is accounted for by construction and half by building, which is split approximately two thirds residential and one third industrial.
Three companies in the ASX top 100, WorleyParsons, CIMIC (formerly known as Leighton Holdings), and Lendlease have construction services which extend internationally and serve to highlight those parts of the sector that are faring better than others.
 
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/115397/width754/image-20160317-30231-acywyn.png" alt=""><a class="license" href="https://creativecommons.org/licenses/by-nd/4.0/">CC BY-ND</a>
 
WorleyParsons consults on engineering, procurement and construction, CIMIC undertakes engineering consulting and construction but is also active in mining. Finally, Lendlease has a higher exposure to residential construction relative to mining and resources. Despite the companies' similar arenas of operation, these three companies have fared very differently in the current climate.
WorleyParsons, with a focus on building services (that is, supporting companies in the construction industry rather than having major building programs itself), is sailing into strong headwinds and making pretty tough going of it, while some of the difficult groundwork already in place at CIMIC seems to be paying dividends, literally. Finally, Lendlease has benefited from some major residential construction projects to boost both revenue and earnings.
<h2>Threats to the construction sector</h2>
The high exposure of the construction industry to business and government demands means that it is particularly vulnerable. That is, it is highly exposed to economic cycles in sectors important to the Australian economy, particularly the mining sector.
The slowdown in mining construction resulting from China’s recent moderating growth rates has hit the industry hard. Australian raw material exports have been an important part of building the infrastructure to support economic growth in China and the construction industry has benefited immensely from building the infrastructure base to enable those exports. Economic signals from China have made investors more wary of commissioning new projects and expanding of existing ones.
Moreover, industry consultant, BIS Shrapnel, believes the “bust” in mining has a long way to run. This means that companies in the industry will have to rein in their expenses and pursue new business to ensure that the high fixed costs of equipment necessary for building and construction do not form a drag on the bottom line. The resultant competition leads to customers being able to force suppliers to cut their profit margin cuts, at the same time that many big projects are drying up.
The more fragmented, but much larger residential market is faring somewhat better, with a record number of new home approvals in 2015. Chronic under-supply is being somewhat alleviated by more residential blocks being released by State governments and demand has remained robust.
<h2>How the biggest companies are faring</h2>
Lendlease, a major player in both the residential and industrial markets, was able to more than offset lower earnings in infrastructure and construction <a href="">this half year</a> relative to last, by a more than doubling of its earnings from property development. Not only did this performance lead to a 12 percent increase in earnings for the company, it was also accompanied by a 15 percent increase in the work Lendlease has in the pipeline, suggesting an underlying strength of future earnings.
That, however, is cold comfort to WorleyParsons and CIMIC, watching from the adjacent industrial construction sector.
Despite WorleyParsons' size, it is still experiencing the second order effects of a wind down in mining. Long term, this has meant the company’s share price has fallen 93 percent in the past ten years. Short term, it has fallen 67 percent in 2015.
The management team at WorleyParsons has followed many of the recommended prescriptions associated with their predicament. It has worked on the cost structure. It has pursued smaller projects to utilise the company’s assets and maintain the bottom line and it has sought diversification, both geographically and by industry. For example, the firm recently won a contract with BAPCo, the Bahrain petroleum company, to extend and reconfigure its refinery.
However, though these initiatives have helped with revenue rising 140 percent in the past ten years, the end result has been the company is not making ground on the tsunami of red ink that’s pursuing companies in the industries in which it operates. Revenue has shown a pleasing and reasonably consistent upward trend, but earnings per share (on a reasonably stable capital base) have taken a nosedive from as high as A$1.50 to below 80 cents.
WorleyParsons' half-year results show the company was able to eke out a net profit after tax of A$23.1 million on revenues of A$4.2 billion. Management promised more of the right kind of medicine: reducing debtors, lowering overhead costs, divesting non-core and low performing assets, and searching for attractive growth opportunities.
On the other hand, CIMIC does appear to be making ground. It has long been a leading industrial construction company in Australia, with considerable overseas earnings. The company must be very pleased to leave the excitement of the bribery and corruption charges that dogged it in its last days as Leighton Holdings.
Hiccups during the takeover of Leightons by Hochtief, when the latter pleaded guilty to insider trading charges, similarly added to the rocky road over which the company has travelled to get to the relative calm it is enjoying at the moment. It may be making less news than it did in the stormy days of erstwhile CEO, Wal King, but the (reasonably) new Spanish management team is quietly notching up wins.
Its full-year profit of A$520 million and revenues of A$16.2 billion were at the top end of the market’s expectations and obviously look a look a lot healthier that those of WorleyParsons. The need for scale in the building industry makes it prone to mergers and acquisitions, while the high level of risk associated with major projects, means that often non-performing assets have to be split off.
While CIMIC is involved in a scrappy takeover battle with Sedgman and the Gorgon jetty project dispute with Chevron, these distractions go with the turf in this industry.
CIMIC, like WorleyParsons, is also taking all of the right steps in terms of operational efficiency, asset balancing, and growth opportunity generation. Moreover, it is doing it from a stronger base and thus with more impressive results.
CIMIC seems to be riding the cyclical waves of the industry reasonably comfortably and enjoying some moderate success in doing do. That is as well since the macroeconomic trends of a China slowdown and an associated slowing industrial building climate in Australia is unlikely to give it a promising tail wind any time soon. On the other hand, WorleyParsons has yet to witness any benefit to it bottom line resulting from its efforts to trim its sails to the new industrial climate.
Meanwhile, Lendlease has managed to insulate itself from chilly infrastructure winds by boosting its selective engagement in the buoyant parts of the residential housing market.
 
John Heath Roberts is professor, Australian Graduate School of Management, UNSW Australia and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/john-heath-roberts-188102" target="_blank">here</a>.
 
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jchancellor-FAypfDUnLy

Construction outlook: mining construction slowdown ripples across industry

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Lendlease delivered profit after tax for the half year ended 31 December 2015 of $353.8 million, versus the prior corresponding period profit after tax of $315.6 million, up 12 percent.
“Significant momentum has driven first half of 2016, with increasing cash generation and a positive growth outlook,” CEO and managing director, Steve McCann said.
The highlights were signalled as:
Estimated development pipeline end value of $46.6 billion, up 15 percent
Residential pre sales revenue of $5.4 billion, up 49 percent
Residential settlements of 2,128 up 45 percent
Construction backlog revenue of $18.6 billion, up 19 percent, with a further $6.1 billion of construction new work secured, up 30 percent
Funds under management of $22.0 billion, up 26 percent, including $1.2 billion of third party capital
“We remain on a strong growth trajectory, with greater visibility to earnings and cash over the coming years,” he said.
“Our development pipeline has grown to $46.6 billion, with approximately 75 percent represented by urbanisation related projects. During the half we had strong sales momentum at residential projects at Victoria Harbour in Melbourne and Elephant &amp; Castle in London and we secured planning approvals for a new urban regeneration project in Chicago,” he said.
Residential pre sales reached a record $5.4 billion, up 49 percent and residential settlements rose 45 percent to 2,1285 .
“In the last six months we have settled over 650 apartments, with non-settlement at less than 1 percent versus our historic average of less than 3 percent.
"We maintain a disciplined approach to delivery risk and pre sales.”
Lendlease today announced the appointment of David Craig to its board.
Mr Craig is the Chief Financial Officer (CFO) of Commonwealth Bank of Australia, and has also served as a Non Executive Director of The Australian Gas Light Company Limited (AGL) and Colonial Mutual Life Assurance Limited.
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Victoria Harbour sales momentum assists Lendlease profit

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Lendlease delivered profit after tax for the half year ended 31 December 2015 of $353.8 million, declaring earnings per stapled security of 60.9 cents, up 12 percent.
Compared to the corresponding period's profit after tax of $315.6 million the December half-year figures are up 12 percent.
Lendlease Group chief executive officer and managing director, Steve McCann said the development pipeline grew to $46.6 billion, with approximately 75 percent represented by urbanisation related projects.
"During the half we had strong sales momentum at residential projects at Victoria Harbour in Melbourne and Elephant &amp; Castle in London and we secured planning approvals for a new urban regeneration project in Chicago,” McCann said.
“In the last six months we have settled over 650 apartments, with non-settlement at less than 1 percent versus our historic average of less than 3 percent. We maintain a disciplined approach to delivery risk and pre sales.
“Our Australian Engineering business has secured a number of key contracts during the half including the Gateway Upgrade North and Kingsford Smith Drive in Brisbane and last week we were announced as preferred on the D9 Level Crossings Removal in Melbourne with our alliance partners... the business is well placed to secure a growing pipeline of infrastructure works.”
For the half year ended 31 December 20151:
Profit after tax of $353.8 million and earnings per stapled security of 60.9 cents, up 12 percent
Interim distribution of 30.0 cents per stapled security, unfranked.
Record pre sold revenue $5.4 billion2 across residential apartments and communities, up 49 percent
$46.6 billion estimated development pipeline end value, up 15 percent
$18.6 billion construction backlog revenue, up 19 percent
$22.0 billion funds under management, up 26 percent
Strong balance sheet with $1.6 billion of cash and undrawn facilities
Return on equity of 13.4 percent
<a href="/images/2016/02/17/Screen%20Shot%202016-02-17%20at%2010.22.18%20AM.png" target="_blank" style="line-height: 1.3em;">Click to enlarge</a>
<img src="/images/2016/02/17/Screen%20Shot%202016-02-17%20at%2010.22.18%20AM.png" alt="">
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mick.cee-iDmgDDAmu8

Lendlease half-year financials to December 2015 up 12 percent

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Forming the Flinders Street Neighbourhood of Lend Lease's $1.5 billion Melbourne Quarter development at Batman's Hill, an application is being assessed for three Fender Katsalidis-designed towers delivering 1,644 apartments at 614-666 Flinders Street.

Located within Docklands, Melbourne Quarter is a key urban infill location opposite Southern Cross Station, with frontages to Collins Street, Flinders Street, Aurora Lane and Wurundjeri Way. The site consists of a number of land parcels, as well as air rights over Wurundjeri Way.

Places Victoria awarded the rights to develop the precinct to Lend Lease on 31 July 2013, following which a Precinct Development Plan for the site was developed and lodged with DTPLI in February 2014. Approval was consequently given during October 2014 and in November 2014 Lend Lease rebranded the site as Melbourne Quarter, commencing the early marketing phase of the development.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/mq_masterplan_02.jpg" rel="gallery-all" title="The Melbourne Quarter masterplan. Image courtesy of Lend Lease."><img alt="" class="image-article-full-width-580px" height="295" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/mq_masterplan_02.jpg?itok=9YXubYXq" title="The Melbourne Quarter masterplan. Image courtesy of Lend Lease." width="580"></a>

<figcaption>The Melbourne Quarter masterplan. Image courtesy of Lend Lease.</figcaption></figure>While nothing out of the ordinary in terms of height; residential towers R1 and R2 at measure 135.5m in height while the smaller R3 measures 70.6m from Flinders Street. The sheer breadth of the two taller towers' floor plates coupled with the number of apartments across the development is rather impressive.

However coupled with a uniform height, facade articulation and finishes, there is a danger of creating a large visual mass on the skyline. The arrangement of the buildings onsite appears to try to address this issue, but it would be surprising if the development team weren't asked to provide greater variance to each individual tower's facade in order to create a point of difference and to further visually distinguish one from another similar to what has occurred with the Upper West Side project.

The towers' respective footprints are illustrated in the typical floorplans below:

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/floor_plates.jpg" rel="gallery-all" title="Typical Tower floor plates. Image courtesy of Lend Lease."><img alt="" class="image-article-full-width-580px" height="358" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/floor_plates.jpg?itok=4sxks1tG" title="Typical Tower floor plates. Image courtesy of Lend Lease." width="580"></a>

<figcaption>Typical Tower floor plates. Image courtesy of Lend Lease.</figcaption></figure>The three towers rise above a common deck with four car parking levels beneath the deck. The Flinders Street heritage wall remains, however it is punctured to allow for vehicular and pedestrian traffic into the site, providing a front door to the project and an interface with the new Flinders Street Plaza, while offering the opportunity for public reinterpretation of the physical and symbolic roles of the wall.

The plaza also offers the opportunity for re-engagement of the heritage wall as an essential part of the future of Melbourne Quarter, as well as a connection to the site's past.

Located centrally at the heart of the Flinders Street Neighbourhood is Batman's Garden, a green space which sits just south of the shorter R3 tower which allows over 50% of the landscaped area having access to sunlight from the morning through to lunch on 22 September. Batman's Garden is a protected space away from the noise of trains and vehicular traffic, forming a welcome area of respite surrounded by the residential buildings with views back towards the city skyline.

Considered a primary component of the series of linked public external spaces leading through the site from Flinders Street to Collins Street, Batman’s Garden provides external amenity for the residential neighbourhood and the general public by creating integrated active and passive recreation areas which interface with and are activated by residential, retail (cafe) and community uses.

It sits 12.5m above Flinders Street and 3.5m below Collins Street, playing a pivotal role in the re establishment of Batman's Hill and negotiating the change in level from north to south.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/batmans_garden.jpg" rel="gallery-all" title="Batman's Garden. Image courtesy of Lend Lease."><img alt="" class="image-article-full-width-580px" height="417" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/batmans_garden.jpg?itok=nC4PpK5x" title="Batman's Garden. Image courtesy of Lend Lease." width="580"></a>

<figcaption>Batman's Garden. Image courtesy of Lend Lease.</figcaption></figure><blockquote>
Melbourne Quarter is a westward extension of the character of the Melbourne CBD. That character is derived from the built form, the resultant public and private spaces, and the way those are used and inhabited. That extension of Melbourne occurs through the hierarchy of road networks – the frontage to the major road of Flinders Street (and Collins Street when the whole Melbourne Quarter has been built out), the connection of those by the minor road of North South Lane, and the filigree of minor connections, echoing the famous laneways of Melbourne.

The development recreates the historic Batman’s Hill, both physically and in terms of its significance of place. The ground plane ascends from Flinders Street to Collins Street in a reconstructed topography of steps and levels. The public realm that follows this ‘hill’ is conceived as an urban grain flowing between and under the built form.
<cite>Planning and context submission.</cite>
</blockquote>

Returning to the topic of facades, the articulation of towers R1 &amp; R2 bares some strong similarities to Lend Lease's Koichi Takada Archtects-designed <a href="/new-apartments/889-collins-street-docklands">839-889 Collins Street</a> residential project at Victoria Habour. However in place of a more dynamic and textured facade of brick and timber, the taller two towers within Melbourne Quarter are clad in matching metal panelling forming a waved expression across the facades.

These are supplemented by planter boxes which run along indented spines up the towers, providing a softer more natural touch. R3 while shorter has a far greater vertical expression of timber fins spanning three floors, interrupted by dual level spanning fins staggered between each vertical cluster.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/mq_towers.png" rel="gallery-all" title="Melbourne Quarter's 3 residential towers. Image courtesy of Lend Lease."><img alt="" class="image-article-full-width-580px" height="341" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/mq_towers.png?itok=sTK54E6W" title="Melbourne Quarter's 3 residential towers. Image courtesy of Lend Lease." width="580"></a>

<figcaption>Melbourne Quarter's 3 residential towers. Image courtesy of Lend Lease.</figcaption></figure>The towers are to be developed in stages with R1 the first cab off the rankalong with Batman's Garden and part of the deck, followed by R2 and R3, developing gradually north as the Collins Street neighbourhood simultaneously develops southward.

<h2>By the numbers</h2>

<ul>
<li>Building heights: R1/R2: 45-storeys or 135.5m to roof &amp; R3: 24-storeys or 70.6m</li>
	<li>Combined 285 parking spaces</li>
	<li>493 bicycle spaces: 164 visitor bicycle spaces and 329 resident</li>
	<li>R1 (725 Apartments): 4 studio, 243 x 1bed, 269 x 2bed +1, 197 x 2bed + 2, 12 x 3bed</li>
	<li>R2 (775 Apartments): 4 studio, 280 x 1bed, 321 x 2bed +1, 155 x 2bed + 2, 15 x 3bed</li>
	<li>R3 (144 Apartments): 72 x 1bed, 54 x 2bed +1, 18 x 2bed + 2,</li>
	<li>172sqm cafe within R1 with frontage to Batman's Garden</li>
	<li>459sqm of Community Space within R3</li>
</ul>
<h2>Project team</h2>

<ul>
<li>Developer: Lend Lease</li>
	<li>Architecture: Fender Katsalidis</li>
	<li>Landscape Architecture and Urban Design: Oculus + Aspect</li>
	<li>Planning: Contour</li>
	<li>Structures: Robert Bird Group</li>
	<li>Building Services: Aurecon</li>
	<li>Building Surveyor: Madigan Surveying</li>
	<li>Wind: Windtech</li>
	<li>Heritage: Lovell Chen</li>
	<li>Acoustics: Renzo Tonin and Associates</li>
	<li>ESD: Lend Lease</li>
	<li>Traffic: Cardno</li>
	<li>Waste Management: Leigh Design</li>
	<li>Access and DDA: Morris Access Consulting</li>
</ul>
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Planning Application: 614-666 Flinders Street, Docklands

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In addition to news of a <a href="https://www.urban.com.au/news/a-new-melbourne-icon-squarely-in-minister-wynnes-hands-447-collins-street">new iconic design for 447 Collins Street</a>, last week also yielded additional information on a handful of other sizeable Melbourne residential developments.

Spanning four separate suburbs, the six proposals are all substantial towers with the smallest containing some 321 dwellings. All bar one of the six have been championed by established property players which maintain a national presence, and combined are capable of adding near on 3,000 new apartments into the Melbourne market.

See below an overview of the six projects which are at differing stages of the development process:

<h2>SKY ONE Box Hill - 545 Station Street, Box Hill</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image9_2.jpg" rel="gallery-all" title="SKY ONE Box Hill. Image courtesy Golden Age Development Group"><img alt="" class="image-article-full-width-580px" height="349" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image9_2.jpg?itok=zXJGcpOU" title="SKY ONE Box Hill. Image courtesy Golden Age Development Group" width="580"></a>

<figcaption>SKY ONE Box Hill. Image courtesy Golden Age Development Group</figcaption></figure>The wraps are off Golden Age Group's newest project dubbed SKY ONE Box Hill. After picking up the approved development site in a recent sales campaign headed by CBRE, Golden Age Group have elected to rework the approved Buchan Group-designed 34 level tower.

In its place will stand a sleek 35 storey tower consisting of luxury apartment above retail uses across lower levels. Launching in the first quarter of 2016, SKY ONE Box Hill is a continuance of Golden Age Group's surge into the Melbourne apartment market which has yielded six high-rise projects in a few short years, including the under construction <a href="https://www.urban.com.au/buildings/victoria-one-452-472-elizabeth-street-melbourne">Victoria One</a> which will eventually stand at 241 metres.

<h2>Shadow Play - 105 Clarendon Street, Southbank</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image8_1.jpg" rel="gallery-all" title="Shadow Play's distinctive silhouette. Image courtesy Enrich Property"><img alt="" class="image-article-full-width-580px" height="363" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image8_1.jpg?itok=79079FuV" title="Shadow Play's distinctive silhouette. Image courtesy Enrich Property" width="580"></a>

<figcaption>Shadow Play's distinctive silhouette. Image courtesy Enrich Property</figcaption></figure>BPM revealed last week that Melbourne builder Icon Co will construct its marquee Southbank residential tower. Valued at $300 million and designed by Elenberg Fraser, Shadow Play is expected to reach completion in May 2018 following the commencement of demolition on the existing structures onsite.

Included are 475 one, two and three bedroom apartments serviced by 150 podium parking spaces and a 600 square metre communal space across level nine.

<h2>32-44 Flinders Street, Melbourne</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image10_5.jpg" rel="gallery-all" title="Further revised. Image courtesy SJB Architects"><img alt="" class="image-article-full-width-580px" height="402" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image10_5.jpg?itok=lLwKnD0x" title="Further revised. Image courtesy SJB Architects" width="580"></a>

<figcaption>Further revised. Image courtesy SJB Architects</figcaption></figure>DEXUS Property Group's first foray into the local residential market has gone through the approvals ringer with a redesign implemented which saw the initial proposal trimmed from 66 levels to 56, while the total number of dwellings has also fallen from 625 to 496.

Melbourne City Council planners have recommended objection based upon excessive height, inadequate setbacks and overshadowing although DEXUS's intentions will lie with the Minister for Planning as the gross floor area of the building proposed is in excess of the 25,000sqm benchmark.

<h2>295-309 King Street, Melbourne</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image11_4.jpg" rel="gallery-all" title="295-309 King Street. Image courtesy Plus Architecture"><img alt="" class="image-article-full-width-580px" height="335" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image11_4.jpg?itok=gcAI9D3a" title="295-309 King Street. Image courtesy Plus Architecture" width="580"></a>

<figcaption>295-309 King Street. Image courtesy Plus Architecture</figcaption></figure>Also back under the gaze of Melbourne City Council is an application that first surfaced during October 2014. Council planners have recommended refusal for the tower based upon revised plans which were received on 14 October 2015 and which includes 440 apartments within a 215 metre tower.

Although the revised plans were submitted post the amendments to the Melbourne Planning Scheme which would consequently render the application invalid, its initial submission date during 2014 suggests it will likely be judged under the old planning provisions… or so the theory goes.

<h2>1 Collins Wharf, Docklands</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image14_1.jpg" rel="gallery-all" title="Lend Lease's latest Docklands offering. Image courtesy The Australian"><img alt="" class="image-article-full-width-580px" height="327" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image14_1.jpg?itok=PF_du3JI" title="Lend Lease's latest Docklands offering. Image courtesy The Australian" width="580"></a>

<figcaption>Lend Lease's latest Docklands offering. Image courtesy The Australian</figcaption></figure>The Australian reported last week on Lend Lease's latest addition to Victoria Harbour is in the form of a Bates Smart-designed residential tower. Covering 28 levels and encompassing 321 dwellings the stepped tower will sit diagonally opposite Library at The Dock and will be a follow-up the the precinct's premier apartment projects Convesso and Concavo, also Bates Smart creations.

1 Collins Wharf will follow on from the current six residential towers that are under construction within Victoria Harbour as Lend Lease enjoys robust demand for Melbourne apartments from both local and overseas purchasers.

<h2>38 Freshwater Place, Southbank</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image21_4.jpg" rel="gallery-all" title="A prized development site. Image courtesy CBRE"><img alt="" class="image-article-full-width-580px" height="410" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image21_4.jpg?itok=qamzVdWB" title="A prized development site. Image courtesy CBRE" width="580"></a>

<figcaption>A prized development site. Image courtesy CBRE</figcaption></figure>One of Melbourne's premier development opportunities is up for grabs with 38 Freshwater Place put on the market by M &amp; L Hospitality. With approval in place for a 273 metre tower which could not be repeated under new planning rules, competition to secure the site is expected to be strong.

METIER3 have designed the sweeping tower with 496 apartments and 390 hotel suites included, although the successful buyer may choose to convert the scheme to a purely residential outcome.
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silvermb

Six premier residential developments jostle for the spotlight

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The pace of construction activity continues to quicken at Victoria Harbour as Lend Lease cashes in on the seemingly endless demand for apartments. Their Docklands precinct currently sees seven residential towers at various stages of construction, a far cry from the solitary project on the radar during 2005.

Add a number of ongoing infrastructure and civic projects within the precinct and the level of development activity within the waterside hub is truly impressive.

Leader of the pack is the Bates Smart-designed <a href="https://www.urban.com.au/buildings/concavo-8-waterside-place-docklands">Concavo</a> residential tower which is rapidly approaching completion, while the dual towers of <a href="https://www.urban.com.au/buildings/888-collins-street-docklands">888 Collins Street</a> directly opposite Concavo are making swift progress. 888 Collins Street's western tower has topped out while the 40 level eastern tower has nudged past a third the way to its eventual height.

Most impressive is the progress of <a href="/new-apartments/889-collins-street-docklands">839-889 Collins Street</a> which has seen four Koichi Takada-designed towers advance to construction in seemingly no time. Replacing intended commercial buildings along Victoria Harbour's waterfront, promenade works and foundation piling have commenced which will ultimately see an additional 1070 apartments added over the four buildings.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image20.jpg" rel="gallery-all" title="There's no shortage of construction within Victoria Harbour"><img alt="" class="image-article-full-width-580px" height="426" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image20.jpg?itok=6jn-hEIy" title="There's no shortage of construction within Victoria Harbour" width="580"></a>

<figcaption>There's no shortage of construction within Victoria Harbour</figcaption></figure>It's not all apartments at Victoria Harbour though with the <a href="https://www.melbourne.vic.gov.au/CommunityServices/CommunityFacilities/CommunityInfrastructure/Pages/DocklandsFamilyServicesBoatingHub.aspx">Community Hub at The Dock</a> set for completion later in the year. The hub will feature a new home for Docklands Yacht Club, the Victorian Dragon Boat Association and the Melbourne Outrigger Canoe club, plus a family services centre encompassing consulting, playground and communal facilities.

The Community Hub joins<a href="https://www.urban.com.au/news/talking-up-docklands-newest-showpiece"> Library at the Dock</a> which opened during 2014; both projects represent a shift toward providing community-based facilities within Victoria Harbour. In addition, demolition works continue further west along North Wharf Road in preparation for future development stages, effectively stretching construction along a roughly 500 metre front within Victoria Harbour.

Perhaps most interesting is the regeneration of Merchant Street. Near completed aspects of the project seek to add greater variety to the streetscape, with an eye toward creating a finer grain pedestrian experience and enticing workers to stay within the area post work hours.

Whether this is a natural progression of Victoria Harbour or an admission that the original builds were lacking where it matters - street level activation and design quality - is another topic altogether. Upon first viewing below the near complete corner of Bourke and Merchant is somewhat bland relative to the render which depicts a greater level of intricacy over the newly projected podium.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image21_2.jpg" rel="gallery-all" title="Community Hub, promenade works and Merchant Street. Render courtesy Lend Lease"><img alt="" class="image-article-full-width-580px" height="329" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image21_2.jpg?itok=oUhM6Hao" title="Community Hub, promenade works and Merchant Street. Render courtesy Lend Lease" width="580"></a>

<figcaption>Community Hub, promenade works and Merchant Street. Render courtesy Lend Lease</figcaption></figure>​So what was the state of Victoria Harbour during 2005? Only John Wardle's impressive <a href="http://www.johnwardlearchitects.com/projects/project/11-dock-5">Dock 5</a> residential tower was on the menu, creeping skyward over the course of the year. It's purple facade and overhung metal crown complimented the 148 apartments within the project, giving the precinct a focal point upon its completion.

Dock 5 followed on from both the Ericsson and NAB low-rise commercial buildings representing the initial projects within the expansive Victoria Harbour precinct. Providing exceptional spaces internally, the buildings arguably offered little by way of design nous externally; a failing that could be applied to many builds within Victoria Harbour over the years to come, namely Myer Docklands, Montage, Mosaic and Forte.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image22_2.jpg" rel="gallery-all" title="Dock 5 on the rise"><img alt="" class="image-article-full-width-580px" height="524" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image22_2.jpg?itok=9VsVrFJB" title="Dock 5 on the rise" width="580"></a>

<figcaption>Dock 5 on the rise over the course of 2005</figcaption></figure>If nothing else the seven to one ratio of apartment projects under construction over the decade-long gap serves to exemplify the rate at which apartment living has rocketed throughout Melbourne, particularly since 2000. Looking forward to 2025 and Victoria Harbour will most likely be complete as further projects creep westward toward the Bolte Bridge.

What the fully completed precinct will look like at that point is anyone's guess at this stage.
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Now and then: Victoria Harbour during 2015 and 2005

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<div class="cq-article-content-paras section">
Lend Lease, the global property and construction group, has a new logo with its traditional blue replaced by shades of green.
It has also updated for the internet era with the single word Lendlease.
Lendlease chief executive Steve McCann said the new logo showed the group's evolution into an integrated but flexible contemporary business.
He acknowledged that at first glance the logo had a hint of shelter.
</div>
<div class="cq-article-content-media section">"The new look is reflective of our exciting future as a contemporary, diverse and international business," he said.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section"><img src="/images/2015/05/27/700_lendlease.jpg" alt=""></div>
<div class="cq-article-content-media section">"It is a design for our future, providing a unique identity that stretches from consumer to business, enterprise to government partnerships and local to international markets.</div>
<div class="cq-article-content-media section">
"Lend Lease is increasingly known for creating some of the best places around the world. Our new fluid and flexible logo puts us in an ideal position to fully maximise the benefits of our remarkable pipeline of projects."
STW's strategic brand and design agency Houston undertook the rebranding.
The new brand will be rolled out over the next two years.
"After 20 years, we bid a fond farewell to the blue umbrella and welcome the 'fold'," Mr McCann said. 
 
</div>
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New Lendlease logo replaces the umbrella 

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When the first images of <a href="https://www.urban.com.au/news/889-collins-street-next-for-lend-leases-victoria-harbour">889 Collins Street surfaced</a>, eagle-eyed readers would have noticed a second identical set of towers in the background. Having initially brushed it off as artistic license to populate a render I was surprised to learn that the development would in fact consist of four overall towers or two sets of twin towers along the north bank of Victoria Harbour.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/site_plan.jpg" rel="gallery-all" title="Aerial of sites within Victoria Harbour. © City of Melbourne"><img alt="" class="image-article-full-width-580px" height="305" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/site_plan.jpg?itok=CQi8pj0P" title="Aerial of sites within Victoria Harbour. © City of Melbourne" width="580"></a>

<figcaption>Aerial of sites within Victoria Harbour. © City of Melbourne</figcaption></figure>Designed by Sydney-based architect Koichi Takada, the project has gained support in the last week via City of Melbourne's Future (Planning) Committee; the final remaining hurdle is now approval from the Planning Minister's office prior to Y4 &amp; Y5/Y6 (seen in the above graphic) officially commencing.

The southern set of towers will be 75.9 metres in height while the northern pair will reach 93.6 metres, with their respective podia rising to heights of 19.5m. The pairing of towers will be such that each podium will accommodate one 30-storey and one 24-storey tower. This variance in height is intended to give the Docklands skyline a more dramatic silhouette than if the towers were to have been paired by common height.

<blockquote>
The elevations are well designed and articulated. All elevations of the towers and podia feature glazing of various types, balconies and timber or masonry finishes to balconies at podium levels, which will serve to create a visually interesting facade. Plant and lift motor rooms are fully screened.

The towers will be worthy additions to the Docklands skyline.
<cite>City Of Melbourne Future Committee Report</cite>
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image.jpg8_zps9xhsay7e.jpg" rel="gallery-all" title="Tower elevations highlighting height variance and facade articulation. © Koichi Takada Architects"><img alt="" class="image-article-full-width-580px" height="366" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image.jpg8_zps9xhsay7e.jpg?itok=bPbakezl" title="Tower elevations highlighting height variance and facade articulation. © Koichi Takada Architects" width="580"></a>

<figcaption>Height variance and facade articulation. Image © Koichi Takada Architects</figcaption></figure>All four towers have the same articulation and a consistent material palette whereby the main elevations respond to city context and river context which is expressed and reflected in the choice of materials. The spandrel bands which wrap around the podium levels employ a rich textured palette of brick and timber drawing references to the site's maritime history (which has been lacking in Docklands so far) and presents somewhat of a departure from the typical materials which adorn some of the other apartment buildings.

The tower sections feature bands of fritted glazing of various levels of opacity and colour, which create a distinct rippled patternation across the facades while also providing the impression of a horizontal movement. This in turn creates a kinetic quality, reinforced by the various reflections of water, city and sky throughout the day.

Likened to "the strong, billowing effect" of sails in the wind, the fritted bands vary from the reddish tone of the brick to the silver tone of the weathered timber.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/facade_elevation.jpg" rel="gallery-all" title="Detail elevation of podium materiality and texture elevations highlighting height variance and facade articulation. © Koichi Takada Architects"><img alt="" class="image-article-full-width-580px" height="227" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/facade_elevation.jpg?itok=TrGyiYhi" title="Detail elevation of podium materiality and texture elevations highlighting height variance and facade articulation. © Koichi Takada Architects" width="580"></a>

<figcaption>Podium materiality and texture. Image © Koichi Takada Architects</figcaption></figure>Interestingly site Y4 originally carried approval for a 9-storey office development designed by Bates Smart with 875 Collins Street as its address. Similarly it is expected that the DCM-designed office tower at 839 Collins Street will be replaced by a $250 million hotel and apartment development for which Lend Lease have put to the market via an open bidding process.

This follows Lend Lease's unsuccessful attempts to secure tenants for both commercial projects before proceeding with construction. This change in strategy has largely been attributed to the strong demand for apartments both from local and overseas purchasers.

Stage One, known more formally as <a href="http://www.889collins.com.au/">889 Collins Street</a>, is due to commence construction this month pending final approval with a completion date of June 2017 forecast.

<h2>Project briefs</h2>

<ul>
<li>Project value: $600 million</li>
	<li>Four towers: 1,070 apartments</li>
	<li>Stage One: 1 x 30-storey + 1 x 24-storey, 539 apartments - 208 x 1BR, 295 x 2BR. 28 x 3BR</li>
	<li>Stage Two: 1 x 30-storey + 1 x 24-storey, 531 apartments - 218 x 1BR. 293 x 2BR. 28 x 3BR</li>
	<li>Car parking 748 spaces over 6 levels across both podiums</li>
	<li>371 bicycle spaces</li>
	<li>SOHO wrap of apartments to podiums to activate facades</li>
	<li>Landscaped rooftop to podiums</li>
	<li>1499sqm of commercial retail</li>
</ul>
<h2>Project team</h2>

<ul>
<li>Developer: Lend Lease</li>
	<li>Architect: Koichi Takada Architects</li>
	<li>Planning Consultant: Contour Consulting</li>
	<li>Waste Management: Leigh Design</li>
	<li>Wind Consultant: MEL Consultants</li>
</ul>
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