DEALS, INDUSTRY TRENDS
Cbus to pursue Landmark $1 billion Melbourne Office Tower
Posted by Development Ready on Dec 28, 2018

Significant Australian property developer Cbus Property has submitted plans to pursue a $1 billion office tower in the heart of Melbourne’s CBD.

The proposed site sits on the corner of Bourke and Queen Streets and encompasses several adjoining properties previously intended for residential skyscrapers; 140 and 150 Queen Street, 423 Bourke Street and 27 McKillop Street. The new proposition will extend 55-levels high and offer 64,500sqm of office space for 5,500 city workers.

Chief executive Adrian Pozzo said “The Property Council of Australia has predicted that Melbourne’s CBD will need an additional 4.4 million square metres of office space in the next two decades to cater for the projected workforce. Our vision for 435 Bourke Street will help meet this demand by providing a premium and performance based commercial solution focused on connectivity, wellbeing and environmentally sustainable design that will reinvigorate this precinct within the CBD.

“The significance of the project’s location and the needs of a future city were integral to the project’s design, as well as ensuring planning controls were met and the development potential of the site optimised.”

The designs have been drawn by Bates Smart for a future Melbourne workforce, where focus is shifting towards projects incorporating sustainability, wellness, connection to nature and productivity. The building will include multi vertical villages, outdoor terraces and 4-level flexible wellness hub.

“The tower’s sculptural design, combined with its emphasis on wellbeing in the workplace, will create a new paradigm for commercial projects in Melbourne.” Cian Davis Director of Bates Smart said.

“An elegant and engaging landmark, the tower will create a world-class and innovative commercial environment, promoting both creativity and interaction for one of the world’s most liveable cities.”

If planning approval is granted Cbus Property intend to launch the new 435 Bourke Street project to market in early 2019 and commence construction in 2019 as well.



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