PEAKSTONE’S refurbishment on its $80 million refurbishment of the former Victoria Police headquarters at 673 Flinders Street, is now underway, with Built appointed to deliver the project.
The privately owned Singaporean investment and management company acquired the commercial asset, located in the emerging Northbank precinct of Melbourne’s CBD, in 2018.
“637 Flinders Street is a rare infill opportunity in the city, sitting between the Yarra River and Melbourne’s traditional CBD grid, enhancing connectivity and making it a well-balanced workplace and lifestyle destination,” said Chris Khoo, head of Australia and New Zealand at Peakstone.
The 4,200sqm site offers 100 metres of frontage to both Flinders and Siddeley Streets and will become home to a 14-level PCA A-Grade tower.
The redevelopment will see the existing façade utilised, adding around 2,062sqm to the create a total net leasable area of 25,112sqm.
The refurbished building will include large flexible floor plates, ranging from 650sqm to 3,700sqm, with two end cores and entrances from both Flinders Street and Siddeley Street.
“637 Flinders Street will be rich in sought-after tenant amenity, including state-of-the-art end-of-trip facilities encompassing 202 bike racks, 321 lockers, 25 showers and changerooms. Parking for 121 cars, incorporating car share, electric-charging stations and advanced car-parking technology will also be provided,” said Edward Knowles, from Colliers International.
Colliers International, along with Cushman & Wakefield will serve as leasing agents for the redevelopment.
Around 970sqm of ground level floor space will also be utilised as retail space, with plans to target food and beverage operators, as well as a convenience based supermarket.
“The prime location of 637 Flinders Street, opposite Lendlease’s Melbourne Quarter precinct, with exceptional arterial connectivity and proximity to Southern Cross Station, together with the significant development occurring in the wider, ever-evolving Northbank area and our focus on contemporary workplace design, will drive demand for this project,” said Khoo.
Additionally, Khoo is optimistic that the tower will secure tenants before its completion due to an increased demand for well-designed buildings in Melbourne’s CBD.
“With Riverlee’s luxury residential and hotel project, Seafarers Place, underway and Mirvac’s $1 billion Flinders West office and retail development and a build-to-rent complex recently approved, 637 Flinders Street will create a new southern gateway to the Hoddle Grid,” affirmed Chris Piasente, director of Artifex Property Group, who have been appointed as development manager.
With construction now underway by Built, the redevelopment of 637 Flinders Street is scheduled for the third quarter of 2022.
