500 Bourke Street begins a new lease on life

Construction on Melbourne’s newest mixed-use precinct, 500 Bourke, has commenced with a transformational re-design to deliver a $665M A Grade tower and mixed-use precinct.

A new home for TAL
Our existing tenant partner, TAL Australia have signed a long-term lease for 6,360sqm, a pre-commitment that will provide building signage rights. This is TAL’s third building in the ISPT portfolio, joining George Place in Sydney and Central Plaza in Brisbane, and will allow TAL to bring their Melbourne employees together in a new purpose-built environment.

Our largest repurposing project yet
We’re investing $150M into transforming, rather than demolishing 500 Bourke, making it one of the most sustainable commitments in our portfolio. 500 Bourke will be carbon neutral from day one of construction, using 100% renewable energy. We’re targeting a 6-star Green Star and 5.5 Star NABERS energy rating and we’ve made a deliberate commitment to honour the building’s 40+ year legacy while protecting and renewing the energy and resources within.

Nicole Ward, General Manager, Commercial Services says the transformation will be treated as a new build, with a vastly accelerated construction timeline, while ensuring the embedded carbon in the shell remains undisturbed.

“For ISPT, we know the most sustainable building is one that’s already been built, and we spent a significant amount of time studying the various uses and opportunities for this site. The bones of the property are too good to waste, so we’re working with the existing structure while overhauling the interiors and third spaces. The result will be exceptional workspace, amenity and curated experiences for an inclusive and connected community.”

A transformational reimagining
Designed by Fender Katsalidis Architects, the new 500 Bourke will focus on attracting and retaining the best talent through inclusive, welcoming and sustainable amenity and community infrastructure. A multi-level, open air terraced piazza will bring together our existing retail partners MoVida Aqui and Rosa’s Canteen, with new retailers to create a stand-alone destinational precinct that will connect and breathe new life into the Melbourne CBD.

Visit www.500bourkest.com.au for more information.