The Victorian Government has given the green light to the development of Charter Hall’s new $200 million office tower in the Wesley Place precinct in Melbourne’s CBD.
The new tower is going to be built at 140 Lonsdale Street, north of the Charter Hall Office Trust (CHOT)-owned 150 Lonsdale Street building and will be adjoining the upcoming $600 million Wesley Place tower on 130 Lonsdale Street.
The A-grade office tower will have 16,500 square metres of office space spread across 22 storeys. The new tower will be retaining the existing above ground car park which provides up to 380 parking spaces.
This development will bring Charter Hall’s investment in the precinct to approximately $1 billion. Both 130 and 140 Lonsdale Street developments are expected to be completed by mid-2020.
“We are proud to collaborate with the Victorian Government and Melbourne City Council who share our vision in the redevelopment of this iconic site,” Charter Hall’s Office Chief Executive Adrian Taylor said.
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Source: The Urban Developer, Australian Financial Review