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Lendlease secures OK for 3rd Melbourne Quarter office tower

Victoria's state government approved Lendlease Corp. Ltd.'s proposed A$500 million development of the 25-story Two Melbourne Quarter, the third commercial office building component in its A$2.5 billion Melbourne Quarter regeneration scheme in the Melbourne suburb of Docklands, The Australian Financial Review reported.

The building planned for the site at 697 Collins St. will feature 49,000 square meters of office space, along with 800 square meters of retail space on its ground floor. According to the Dec. 22 report, the Woods Bagot-designed structure can accommodate 4,500 workers.

Alongside Two Melbourne Quarter, the One Melbourne Quarter office tower and the A$550 million Melbourne Quarter Tower also form part of the 2.5-hectare Melbourne Quarter integrated development. Construction has already started on One Melbourne Quarter, while works are yet to begin on Melbourne Quarter Tower, which will serve as the centerpiece of the wider mixed-use project.

Meanwhile, the residential component of the Docklands scheme comprises three residential towers yielding nearly 1,700 apartment units, the publication noted. One of the residential buildings is the 719-unit, A$400 million Melbourne Quarter East Tower that Lendlease is developing in partnership with Japan's Mitsubishi Estate Co. Ltd. and Mitsubishi Jisho Residence Co. Ltd.