Tall & Urban News

Fund manager Charter Hall has submitted a development application for a property at the eastern end of the Melbourne CBD. The redevelopment is part of the unlisted trust’s AU$1.3 billion (US$888 million) Wesley Place project along Melbourne’s Lonsdale Street.

Upon completion the precinct will provide three future-ready office buildings—130 Lonsdale, 140 Lonsdale and 150 Lonsdale Street—as well as the restoration of the Wesley Church and an additional four heritage buildings on the 1.1-hectare CBD site.

At 110,000 square meters, Wesley Place is set to become the largest office precinct in the CBD and with 130 Lonsdale fully-leased prior to practical completion and 150 Lonsdale Street, anchored by blue-chip tenant Telstra, leasing quickly.

The proposed works at 150 Lonsdale Street, designed by Cox Architecture, will include the creation of new tenant amenities, such as a new ground-floor arrival experience with concierge as well as retail tenancies to complement the business hub and an open-air terrace.

“The submission of 150 Lonsdale Street’s Development Application is a significant milestone for the Wesley Place project,” Charter Hall regional development director Simon Stockfeld said.

“Along with 140 Lonsdale Street, these works will form the final stages of this iconic precinct.”

“It demonstrates an immensely positive response towards our vision to create a transformative work-life destination, as well as our leasing team’s capabilities in securing high-caliber tenant customers.”

At 140 Lonsdale Street, Charter Hall’s AU$200 million (US$137 million) development will provide 16,500 square meters of office space over 22 levels and will mostly retain the existing above-ground car park, providing approximately 380 car spaces.

Wesley Mission Victoria and Uniting Church in Australia have also committed to long-term leases as part of the original deal to develop the church-owned land through a 125-year leasehold deal.

“The character of the existing 150 Lonsdale Street building and the sculptural form of 130 Lonsdale Street have informed our design approach for the refurbishment,” Cox Architecture director Simon Haussegger said.

“The proposed podium references the vertical rhythm of the existing building and frames the view of the Wesley Church…Green podium terraces provide opportunity for tenants to connect with nature and the green spaces within the Wesley Precinct below.”

For more on this story go to The Urban Developer.