Global real estate investment firm Hines has announced plans to begin construction on a new timber office building in Melbourne, Australia in the third quarter of this year.
The new 15-storey building, named 36 Wellington Street, is expected to be Melbourne’s tallest mass-engineered timber office building.
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The new A-Grade building will include 18,200m2 of net leasable space and will offer flexible and creative spaces and end-of-trip facilities.
The project site is located in close proximity to restaurants, bars and cafés at the heart of vibrant Collingwood, transport and is surrounded by open green space.
Hines stated that the new building will be designed to achieve 5 Star NABERS and 5.5 Star Green Star ratings as a minimum.
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Hines director Simon Nasa said: “Timber construction increases staff connection to their workplace, creating an enjoyable working environment which will appeal to forward-thinking tenants seeking a true “live, work, play” balance for their staff.
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By GlobalData“We are all about creating collaborative and adaptive workspaces that respond to the changing needs of progressive businesses, blurring the boundaries of what an office can do. ‘Wellington’ will be a Collingwood office just like the suburb itself; a melting-pot of ideas and innovation.”
The company noted that Canadian real estate company’s Travis Myerscough and Damien Adkins have been appointed as exclusive leasing agents for the new development.
Recently, Hines, in partnership with Benenson Capital Partners and USAA Real Estate, has announced plans to deliver new mixed-use project in Downtown Bellevue, Washingtony, the US.
The new development, named Main Street Place, is a 6.75-acre mixed-use project, which will feature about 1.2 million ft2 of new high-rise office on the north portion of the site and about 400 units of low-rise apartments on the south portion.
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Illustration of the new timber office building in Melbourne, Australia. Credit: Hines.
