Contracts exchanged for 50% interest in commercial and retail components of 447 Collins Street

ISPT has exchanged contracts for a 50% freehold interest in the commercial and retail components of 447 Collins Street, Melbourne. Cbus Property retains a 50% interest in the commercial and retail components and is the development manager and has full development responsibility for the hotel and residential apartments.

447 Collins Street is a development site located on the corner of Collins and William Streets in the Melbourne business district. The proposed development includes 49,000 sqm of premium grade office space over 24 levels and 800 sqm of ground floor food and beverage retail. As a mixed use development it will also include a 5 star hotel and 202 luxury residential apartments.

Michelle McNally, ISPT’s General Manager, Commercial Services said: “We are very proud to be jointly developing the commercial and retail elements of a striking new icon on the Melbourne landscape. Designed by international awarding winning architects, Woods Bagot and New York-based SHoP Architects, the development has drawn global attention for its bold structure. Part of a master planned mix use precinct, rich in world class amenity and unique greenspace, 447 Collins Street will be the new benchmark for workplace experience.”

The commercial component of the development is due for completion in late 2019.