This article is from the Australian Property Journal archive
ISPT and Cbus Property have appointed JLL to manage Collins Arch at 447 Collins St in Melbourne’s CBD, also known as “pantscraper”.
JLL will manage the office component and the Owners Corporation No.1, which incorporates the management of common areas and key logistical aspects for the precinct.
Currently under development, the Woods Bagot & SHoP Architects designed building will deliver over 150,000 sqm of gross commercial floor space including Melbourne’s first 5-star W Hotel, and 184 premium luxury residences.
As part of Collins Arch, Cbus Property and ISPT are co-developing 50,000 sqm of premium grade office accommodation over 24 levels. It is 80% preleased, predominantly to legal firms and including key tenants Minter Ellison, HWL Ebsworth Lawyers, Gadens and King & Wood Mallesons.
The office management will be led by JLL Victoria’s property & asset management team Melinda Van der Westhuizen, Nick Kost, Peter Bartucca with the Owners Corporation No.1 component to be handled by JLL’s recently appointed Alex Smith.
Westhuizen said Collins Arch represents the next generation of premium office workplace design.
“We look forward to working in partnership with our clients to set new benchmarks in the way office environments are managed,” she added.
JLL Victoria managing director David Bowden said the development will set a new standard in Melbourne’s CBD when it is completed in November 2019.
“It is testament to the commitment of Cbus Property and ISPT to create this leading sustainable commercial development in Melbourne. Mixed use offerings are gathering pace across Melbourne as opportunities to provide this kind of development are limited due to diminishing site availability. Only a handful of standalone sites remain within the CBD,” he said.
Cbus Property executive manager asset management Christopher Hardy said JLL’s access to technology solutions and specialised personnel will be critical in the management of the variety of stakeholders invested in the development.
ISPT property investment manager Leah Lucas said the vision for Collins Arch is to deliver the largest integrated luxury precinct in Melbourne’s CBD.
“The 447 Collins Street office building will be optimised with indoor air quality monitoring, natural lighting and ventilation as well as market leading amenities for our customers.
“Not only do these aspects differentiate the development in the market, they are proving to be very appealing to tenants who believe these amenities will play a significant role in both attracting and retaining talent.” Lucas said.
This latest win will boost JLL’s portfolio and follows the appointment to manage 839 Collins St owned by Challenger and Invesco which is due to complete in Q1, 2019 as well as the 2017 appointment to manage 80 Collins St which incorporates Hotel, Retail and two office towers.
Australian Property Journal
