Mirvac Completes ~$25 Million Lobby at 55 Collins Street amid Leasing Success

Mirvac has completed a transformation of 55 Collins Street, Melbourne, an iconic office building within its ~$6 billion Mirvac Wholesale Office Fund (MWOF). The transformation has involved a ~$25 million project to re-imagine the lobby, facade and end-of-trip facilities as well as the refurbishment of 22 office floors. The project has resonated with tenants such as Salesforce and The Commons and has delivered more than 21,000 sqm of leasing since 1 January 2024 across the Collins Place precinct.

Located in an enviable landmark corner position at the ‘Paris end’ of Collins Street, one of Melbourne’s most sought-after CBD precincts, the revitalisation works at 55 Collins Street have delivered a refurbished premium lobby experience, contemporary ground plane, a new Level 1 facade, smart building technology and the introduction of co-working operator, The Commons. The end-of-trip facilities and premium squash courts have also been upgraded which will support Mirvac’s enhanced wellness offering launching from July 2025.

Kit Georgeos, MWOF Fund Manager said that the refurbishment of 55 Collins Street is a demonstration of MWOF’s ongoing commitment to reinvest in its assets and aligns with Mirvac’s strategy of creating and curating modern, high amenity, well located, sustainable and technology-rich office buildings.

“High quality, tech-enabled office spaces with excellent amenity for tenants are in high demand, and with the latest office research indicating Melbourne’s CBD office vacancy rate has stabilised, we are repositioning assets to meet this demand.ⁱ”

“This investment in 55 Collins Street is a great example of how we are modernising our existing assets to ensure they can cater to our customers’ changing requirements, including the growing desire for flexible space. Collins Place is an iconic precinct and MWOF’s largest asset, and these upgrades present a significant opportunity to attract tenants and talent in Melbourne,” Ms Georgeos said.

The Collins Place precinct has attracted a number of new customers. More than 21,000 sqm has been committed to new and existing customers since January 2024 including global professional services firm, BDO at 35 Collins Street and Salesforce at 55 Collins Street, as well as multi-award-winning Blackbird Bar, Dining C Events.

“The expansion of our Melbourne office at 55 Collins Street is part of our wider investment in the Australian market and is aimed at improving employee connection and serving our customers,” said Frank Fillmann, EVP C General Manager, Salesforce Australia and New Zealand.

“Our Melbourne employees are looking forward to collaborating in the new space and supporting innovation and customer success for local trailblazers, including Telstra, ANZ Bank and MECCA.”

As part of the refurbishment, leading Australian co-working operator, The Commons, has moved into levels one to six, across 5,061 sqm, with direct connection to the ground plane and lobby as well as a visual connection through the new Level 1 façade.

The Commons is a certified B Corp co-working operator with an emphasis on wellness and community across 16 locations in Australia. The Commons offering includes private office suites and co-working spaces including over 250 meeting, conference and workshop rooms, and a range of exciting event and multimedia spaces.

Tom Ye, Co-Founding Director from The Commons said: “We are excited to have the opportunity to join the Collins Place community and look forward to welcoming our members and providing flexible solutions for tenants in this flagship location. We will also be opening a cocktail bar and café in our space which will bring a touch of 5 star hospitality to their work week.”

On commenting on the design of the lobby, façade and end of trip facilities, Ms Georgeos added: “We are also pleased to have extended our partnership with Grimshaw and Norman Disney C Young, bringing continuity in design and technology from the 35 Collins Street refurbishment undertaken with both teams in 2020.

“Collins Place is an excellent example of how high-quality designed buildings of the last century can be revitalised, respecting the original building’s proportion, finishes and materials to achieve a thoroughly contemporary outcome – exceeding tenant and user expectations. As with 35 Collins Street, the design brief and intention was to open up the facade to enable more transparent engagement with the external forecourt,” she said.

With ESG front of mind, Mirvac partnered with Circonomy on the sustainable office de-fit and rehoming solutions at 55 Collins Street, diverting over 3,000 pieces of furniture and equipment from landfill, producing an estimated 180 tonne reduction in carbon emissions.

Ms Georgeos said: “Future proofing our assets is a key focus for MWOF, and these works begin the electrification journey for 55 Collins Street. The upgrade of mechanical, electrical, and fire services, including improved wi-fi coverage, automated LED lighting, people counters and smart lockers will not only improve building monitoring and sustainability performance, but also enhance the workplace experience for our customers.”

The refurbishments have now reached practical completion, reinforcing the identity of Collins Place as a landmark office destination in Melbourne.

ⁱ https://www.propertycouncil.com.au/property-australia/office-vacancy-rate-remains-steady-as-demand-stays- positive and https://www.cbre.com.au/press-releases/cbre-commentary-property-council-of-australia-office-vacancy-statistics-february-2025