The site of 600 Lonsdale Street, in Melbourne’s CBD has been listed for sale, as part of a $1 billion AUD asset sell-off by the developer. The corner plot, located near Flagstaff and Southern Cross stations, has already approved plans for a 40-story office building designed by Fender Katsalidis and Skidmore, Owings & Merrill. This will effectively cancel the design but not necessarily the approved density for development. The originally proposed development would have featured over 45,000 square meters of gross floor area, including retail spaces and a wellness centre. Initially planned to include a hotel, the project was revised to focus solely on office space.
The sale, managed by Cushman & Wakefield, is expected to fetch around $65 million AUD. The developer is also selling a site in Collingwood with approval for an 11-story office and hotel project. Meanwhile, its South Yarra mixed-use office development on Toorak Road is moving ahead, with 80% of the space pre-leased and construction currently underway. The developer plans to occupy a floor of the building when it completes next year.
Learn more about this at the Urban Developer.