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Hines, the international real estate firm, has acquired one of the last remaining prime development sites, 600 Collins Street, in Melbourne’s CBD. Hines will seek to amend the existing mixed-use permit to deliver a 60,000-square-meter premium-grade office tower in the CBD’s burgeoning Western Core, solidifying the area as Melbourne’s premier corporate hub. The strategically located site offers over 70 meters of prime frontage on Collins Street, surrounded by a deep amenity base and major transport nodes.
Hines Managing Director David Warneford commented that the acquisition reflects the firm’s global confidence in the long-term future of the office sector post-COVID. “We have witnessed an unprecedented experiment in work-from-home as a result of the pandemic, which has sparked change in the way people will work in the future,” he said. “Businesses will demand office space that responds to their unique needs such as: flexible ways of working; a strong focus on health and wellness; an atmosphere conducive to collaboration and continuity of corporate culture and seamless technology integration. 600 Collins Street will deliver those key elements to a level not yet seen in Melbourne.”
600 Collins will be one of five Hines projects currently in development across the APAC region—including 36-52 Wellington, an 18,200-square-metre, 15-story heavy timber creative office building in Melbourne and 9 Stewart Street a 5,000-square-metre, 10-story boutique creative office also in Melbourne. Both projects will embrace and expand Hines’ T3 (Timber, Transit and Technology) platform.
The 600 Collins Street site was acquired from Melbourne-based property development firm, Landream, in a deal brokered by Paul Kempton of Knight Frank acting for Hines.
Source : Hines