Charter Hall Group has announced that the Victorian government has approved a site specific Planning Scheme Amendment at 140 Lonsdale Street and Development Approval has been granted for a major upgrade and repositioning of 150 Lonsdale Street.
Part of the future-ready Wesley Place precinct, 140 Lonsdale Street will comprise a new $290 million, 22,750sqm building while 150 Lonsdale Street’s $50 million refurbishment will transform it into a prime $300 million commercial building.
Preliminary site works have commenced at 140 Lonsdale Street with practical completion due in October 2022. Works are expected to commence at 150 Lonsdale Street in July 2020 with completion targeted for late 2021.
150 Lonsdale Street will also undergo a number of sustainability upgrades, targeting a 5 Star NABERS rating and 5 Star Green Star rating, as well as a WELL rating and a WiredScore assessment which rates a building’s digital infrastructure.
Upon completion, the Wesley Place precinct will provide three future-ready office buildings – 130 Lonsdale, 140 Lonsdale and 150 Lonsdale Street – amongst public landscaped grounds, world-class food and beverage as well as the restoration of the Wesley Church and an additional four heritage buildings on the 1.1-hectare CBD site.