Mirvac Group has lodged a planning permit application to Melbourne City Council for its 90 Collins Street asset, with the developer revealing its plans to retain, refurbish and add to the existing 21-storey building.
The developer plans to add another 15 levels to the building, increasing the total commercial space within the tower by 15,000sqm. The refurbishment and addition has been designed by Fender Katsalidis, and will have the potential to house 3,500 employees. It is estimated the project will cost Mirvac a total of $650 million.
Located at the ‘Paris end’ of Collins Street and close to public transport networks and Melbourne’s iconic laneways, Mirvac’s refurbishment of the tower will deliver a sustainable building with a number of premium amenities and technologies.
Andrew Butler, General Manager, Office, at Mirvac says the refurbishment of 90 Collins Street is a demonstration of Mirvac’s capability to reinvest in assets as part of a broader focus on sustainability.
“In July 2021, we became the first Australian property company to reach net positive carbon, nine years ahead of our 2030 target. Maintaining and refurbishing our existing assets, rather than opting to demolish them, means that we can retain the embodied carbon in the building. This fits our ‘whole life carbon’ portfolio approach, where we consider the carbon emissions produced over the entire lifecycle of a building,” he says.
“We are delighted to be able to demonstrate our confidence in the strength of Melbourne’s office market with this proposal to upgrade 90 Collins Street into a boutique, world-class asset. The seamless and activated ground plane will be enhanced by a new premium lobby featuring extended heights, natural light and integration with the Collins Street heritage. The building will connect to Alfred Place, enhancing and activating the laneway.
“We believe that high quality, tech-enabled office spaces with best-in-class sustainability credentials will be in high demand in Melbourne, as the city continues to open back up following the impacts of the pandemic. Purposefully designed to include dedicated wellness areas and state-of-the-art end of trip facilities, 90 Collins Street is a great example of how we are investing in our existing assets to ensure they are able to cater to what our customers need in a post-COVID world.”
The submission adds to Mirvac securing planning approval to refurbish its 380 St Kilda Road office building. The developer is looking to improve its $12.9 billion Commercial & Mixed Use development pipeline, and further enhance the quality and resilience of its $2.4 billion Melbourne office portfolio.
“We are looking forward to working with the City of Melbourne as we move through the planning process and pending approvals,” says Butler.
For more information, visit www.mirvac.com.
Image: Supplied
