New owner for Melbourne Quarter Tower

Spencer Fowler Steen

Multinational construction group and Docklands developer Lendlease has announced that one of the world’s largest pension funds has acquired the last and largest commercial tower in the Melbourne Quarter Precinct.

Located directly across from Southern Cross station, Melbourne Quarter Tower will deliver 34 levels of premium-grade office space and be home to 15,000 employees.

The iconic building, now owned by the National Pension Service of Korea, will provide large light-filled floorplates, and will add further public spaces including a vibrant retail mix across around 3000 sqm.

A boutique Wellness Hub, including childcare and allied health services to make life within the precinct easier for all those who work and play there, will be part of the building.

It also creates a new city laneway to form the pedestrian spine of Melbourne Quarter connecting Collins St with Flinders St.

With construction underway, Melbourne Quarter Tower will complete the precinct’s public square and the final phase of the elevated Sky Park, the first of its kind in Melbourne.

The tower is set to provide eading sustainability outcomes in energy and water consumption, waste management and indoor environment quality, according to Lendlease.

Lendlease is in discussions with several other leading companies for space within the tower, due for completion in 2024.

One of Australia’s largest private health insurers, Medibank, will be the anchor tenant of the new tower.

Designed by international architects Woods Bagot, the 34-level building will become Medibank’s new national headquarters.

Lendlease Property Australia CEO Kylie Rampa said she was “delighted” to welcome NPS and Medibank to Melbourne Quarter, with Melbourne Quarter Tower to complete the city’s market-leading commercial precinct.

“Melbourne Quarter is one of the largest mixed-use urban regeneration developments the city has seen. It connects people and places with transport and technology in a green, amenity-rich, urban environment to improve wellness, productivity and social connection,” she said.

Melbourne Quarter is an inner-city precinct catering to the needs of commercial office workers, nearby residents and people wanting to delve into an authentic Melbourne experience.

The $2.9 billion urban renewal project stitches together the fabric of the CBD, connecting Melbourne city with the Southern Cross Precinct.Once finished, Melbourne Quarter will include 150,000 sqm of commercial office space across three towers, two residential towers with 1500 apartments and 40 retail shops •

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