Tall & Urban News

The 41-level office tower standing 216 meters tall at the Paris end of Collins Street, in Melbourne’s CBD, is officially complete.

Multiplex has completed work on the 80 Collins South tower, now owned by ASX-listed property giant Dexus, which began construction during the first half of 2017.

The Darren Steinberg-led Dexus acquired the asset from QIC Global Real Estate in May last year for AUD$1.5 billion (US$1 billion).

Major refurbishments also took place to the existing 47-level A-grade office building.

On the tower’s construction, Multiplex’s Graham Cottam said around 7000 tonnes (7,716 tons) of structural steel and 30,000 cubic meters of concrete was used throughout the build.

“80 Collins Street was an extremely complex build, with the new office tower constructed to cantilever 12 meters over existing buildings on Collins Street,” he said.

“[This is the] first time this engineering feat has been achieved on such a scale.”

The building’s design was undertaken by Woods Bagot and Dutch firm UN Studio, on the façades of both the new office tower and hotel.

QIC led the tower to “topping out” stage in August 2019.

Charter Hall and Mirvac had also vied for the 80 Collins Street deal in May last year, when Dexus acquired a 75 percent ownership interest and Dexus Wholesale Property Fund (DWPF) acquired the remaining 25 percent interest for a total acquisition price of AUD$1.47 billion (US$1 billion).

In Sydney, Multiplex has completed the first stage of 388 George Street, handing over the first stage of the AUD$200 million (US$142,603,000) redevelopment—a 28-storey tower—to Brookfield Properties and Investa Property Group.

For more on this story, go to The Urban Developer.