1. Skip to navigation
  2. Skip to content
  3. Skip to sidebar

Property News

New commercial space expected for Melbourne

October 19, 2011

Plenty of commercial office space is set to enter the Melbourne market during the coming two years, including one major building planned for the city's CBD.

Bourke Street is home to the new CBUS development at 700 Bourke Street. This 61,000 sq m A-grade building will be occupied by the National Australia Bank and is expected to be complete by 2013, according to new research from DTZ.

Other planned CBD office space that will become available next year includes new buildings at 555 Bourke Street (20,443 sq m) and 735 Collins Street (38,000 sq m), as well as a refurbished 30,000 sq m structure at 357 Collins Street.

DTZ also recorded a number of significant leasing deals that took place in the Melbourne office market over the previous quarter, including Griffith Hack's relocation to 161 Collins Street, occupying some 3,200 sq m of space, as well as Servicestream's CBD move, which saw the firm occupy some 9,000 sq m at 357 Collins St.

Many of Melbourne's older commercial properties are set to undergo a major eco-friendly facelift in the coming months and years thanks to a new retrofitting investment partnership spearheaded by the city's council.

According to councillor Cathy Oke, chair of the Future Melbourne (Eco-City) Committee, the partnership between the city, individual building owners and the Sustainable Melbourne Fund, could be the key to unlocking $2 billion in retrofit activity for the city's commercial properties.

Related Articles

Increased Chinese investor activity in Melbourne's central business district

A number of Chinese property investors have been buying up large sections of Melbourne's ...
read more

Commercial property to receive sustainable upgrade in Victoria

Commercial property in Victoria is about have an opportunity to increase their sustainability, as ...
read more

Sustainable initiative for Victorian commercial property

Victorian commercial real estate will have a helping hand to turn over a new leaf and increase ...
read more

Latest Articles

Support for Sydney businesses aims to improve the city's economy

Sydney's new Economic Development Strategy has been backed by businesses across the city, with ...
read more

Western Australian economy continues to grow

The State of the States report released by Commsec late last month (January 17) has ...
read more

South Australian export growth good news for potential investment

South Australia could be a great location to consider purchasing investment property in over ...
read more