Brookfield Multiplex has secured a contract to carry out a $150m expansion and redevelopment of the Charter Hall Core Plus Office Fund’s (CPOF) 570 Bourke Street office building in Melbourne, Australia.
Brookfield will add 15,550m² of office space across levels two to 11, to create ten levels of 2,700m² NLA floorplates.
A new glass atrium will be added to the podium floors to provide connectivity between floors and natural light; four new retail tenancies will be added; the ground floor lobby rebuilt and new generation end-of-trip facilities installed.
Plans also include the addition of 170m² of office space to level one and 670m² of retail space to the ground floor facing Bourke and Little Bourke Streets.
The building is located is near the Bourke/William Street intersection and is anticipated to deliver $350m on completion value investment.
CPOF fund manager Chris Forbes said the expansion from 35,000m² to 51,000m² will make it one of Melbourne’s top ten office buildings by lettable area.
"The new design aims to engage the existing 35,000m² square metre A-grade building through the addition of an 11-storey podium incorporating a totally renewed ground floor lobby, purpose built end-of-trip facilities and various retail spaces designed to activate the buildings four street frontages," Forbes said.
"The large contiguous floor plates with natural light to all four sides and an enclosed atrium providing inter floor connectivity will be unique within the Melbourne CBD and as such we expect the building to be well received by a variety of tenants."
Work on 570 Bourke Street is anticipated to start in January 2014 and will be completed in the middle of 2015.
Image: 570 Bourke Street office building in Melbourne. Photo: courtesy of Brookfield Multiplex.