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Works begin on $80M 637 Flinders Street redevelopment project

Refurbishment works have begun as part of the $80 million 637 Flinders Street redevelopment project, in the Northbank precinct of Melbourne’s CBD.

Refurbishment works have begun as part of the $80 million 637 Flinders Street redevelopment project, in the Northbank precinct of Melbourne’s CBD.

Singaporean property investment and management company, Peakstone, appointed Built as the contractor for the redevelopment following a tender process.

The site, formerly the headquarters of Victoria Police, was vacated in 2018 following Peakstone’s acquisition of the property.

Peakstone’s Head of Australia and New Zealand, Chris Khoo, said the works will breathe new life into underutilised assets.

“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,” he said.

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“Occupying a significant 4,200-square-metre site with 100-metre frontages to Flinders and Siddeley Streets, our goal is to elevate the precinct to a premium standard that aligns with its prominent location, and we are confident that Built’s expertise can deliver on this vision.”

Cox Architecture has designed the redevelopment, which will transform it into a campus style office precinct, with a 5-star NABERS Energy rating and focus on contemporary wellness amenity and increasing connectivity.

“We are confident we will secure tenants during the development phase. 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,” Khoo said.

“We have seen an increased appetite in Melbourne’s city centre for well-designed buildings that meet the needs of a modern workplace and future workforce.”

The redevelopment of 637 Flinders Street will retain and utilise the existing façade features, adding approximately 2062 square metres to the building’s current net leasable area for a total of 25,112 square metres. Large flexible floor plates will measure from 650 square metres to 3700 square metres, with two separate end cores and two entrances from Flinders Street and Siddeley Street.

Completion of the project is scheduled for the third quarter of 2022.

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