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Final construction of $1.5B Wesley Place Precinct begins

Construction works have commenced on 150 Lonsdale Street in Melbourne, as part of Charter Hall’s $1.5 billion Wesley Place Precinct project.

Construction works have commenced on 150 Lonsdale Street in Melbourne, as part of Charter Hall’s $1.5 billion Wesley Place Precinct project.

Construction is also moving forward at 140 Lonsdale Street and practical completion has been reached for the $750 million 130 Lonsdale Street building.

Lendlease was appointed the construction partner for both projects, with works undertaken in accordance with strict COVID-19 safety measures.

The Wesley Place precinct has created more than 2000 jobs to date and is expected to employ more than 1500 through construction at the two projects.

Charter Hall’s Managing Director and Group CEO David Harrison said it’s an important time for the Wesley Place precinct.

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“As well as reaching practical completion for 130 Lonsdale Street this year, the final step towards delivering the three future-ready commercial towers has begun with the new Victorian State Office for the Australian Federal Police under construction at 140 Lonsdale Street and 150 Lonsdale Street’s upgrade and repositioning works now underway,” he said.

“We know how important job creation is for the Victorian economy and we ensured moving forward with works onsite at 140 and 150 Lonsdale Street was a priority after receiving fast tracked Development Approvals from the State Government. We’d like to thank the Victorian Government for its continued support for this transformative precinct within the CBD.

Victorian Treasurer and Economic Development Minister Tim Pallas said despite the current challenges posed by coronavirus, Victoria remains open for business.

“I congratulate Charter Hall for getting these projects off the ground. They will play a key role in our economic recovery by creating direct and indirect jobs, and these developments will become wonderful additions to our city,” Pallas said.

“Throughout this pandemic, we’ve stood with the sector by making sure they can continue to make progress building a bigger and better Victoria.”

The $60 million upgrade and repositioning of 150 Lonsdale street is expected to be complete in late 2021.

The $350 million 140 Lonsdale Street office tower will be the new home of the Australian Federal Police and is expected to be completed in late 2022. Both projects received fast-tracked Development Approval from the Victorian Government earlier in the year, as part of the Building Victoria’s Recovery Taskforce’s mandate to keep the state’s economy moving and to create jobs.

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