Practical completion achieved at 405 Bourke Street

ISPT and JV partner Brookfield have reached the first stage of practical completion on the $950 million office and retail development at 405 Bourke Street, Melbourne.

The A Grade building with Premium Grade services will be fully occupied by NAB and they will begin their relocation from ISPT’sΒ 500 Bourke Street in early September.

Melinda van der Westhuizen, General Manager, Commercial Services at ISPT commented that β€œISPT is a proud investor in 405 Bourke Street, a highly sustainable addition to the Melbourne skyline and future home to our long term partner, NAB.  We look forward to realising this thriving new precinct and commencing our redevelopment project at 500 Bourke Street, creating a revitalised workplace at the forefront of sustainability, superb amenity and productivity.”

405 Bourke Street is a major new office and retail development and comprises 66,000 sqm of commercial office space over 39 levels, providing large scale, open plan floor plates. The project also includes Makers Lane, which connects Little Collins and Bourke Street and will provide a mix of both convenience retail and food and beverage offers.

The first stage completion includes the low and mid-rise levels of the building, totalling approximately 40,000 sqm. The second stage of completion for the high-rise levels is due to occur in October.

405 Bourke Street is targeting a 5 Star Green Star Office Design rating and will target a minimum 5 Star NABERS Energy Rating post completion.

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About Warwick P

Warwick has over 25 years of property investment and management experience. Principally responsible as Managing Director for Capital Management Australia and Joint Managing Director for Chauvel Capital Partners and Editor of Australian Property Markets News.

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