New $200m Melbourne residential precinct
Melbourne based PDG Corporation has secured another agreement with the City of…
29 October 2019
Lendlease and Charter Hall have received development approval from the Victorian government for a $300 million office tower at its Wesley Place complex on Lonsdale Street in the Melbourne’s CBD.
The Australian Federal Police will lease 22,750sqm of dedicated tenancy space along with 135 car parking spaces as part of the 30-year lease, which includes two additional five-year options.
The building will be home to more than 560 AFP officers and employees with an operations facility in the centre of Melbourne’s CBD.
Charter Hall Managing Director and Group CEO David Harrison said, “securing a long-term lease with the AFP, is an extension of the company’s commitment to work with government and corporate tenant customers to create their vision of an optimal workplace environment for their people.” Charter Hall Managing Director and Group CEO David Harrison
“We have worked closely with the AFP, to design a bespoke property solution that will enable and support the AFP’s important work around national security, counter terrorism and continuing to make Australia a safer place,” Harrison said.
“As well as ensuring the AFP have the highest quality fit-for-purpose headquarters, the long-term lease will further strengthen the $3 billion Charter Hall Office Trust (CHOT) portfolio of prime CBD assets.”
Charter Hall’s Regional Development Director Simon Stockfeld said receiving Parliamentary approval for the AFP’s lease at 140 Lonsdale Street is an important milestone for the project.
“We have worked collaboratively with the AFP to design its new purpose-built MSO, and we are looking forward to delivering one of the most advanced buildings in Melbourne that will integrate seamlessly into the wider Wesley Place precinct,” he said.
The AFP has established a budget of $98.43M (excluding GST) for the proposed integrated fitout and building upgrade works; $63.43M in landlord incentives and $35.00M from the Commonwealth. This budget includes provision for construction contingencies and cost escalation.
The AFP amendments to the office tower are currently before Victoria’s Planning Minister Richard Wynne for approval.
Construction works are expected to begin soon, with completion anticipated for late 2022.
Lendlease and Charter Hall are aiming to reach a 5 Star Green Star and 5 Star NABERS energy ratings.