The Most Prestigious New Corporate Address In Melbourne

• Work will commence next week on one of Australia’s most significant new commercial projects – 735 Collins Street
• 160 metres of blue-ribbon Collins Street frontage • Early works to commence on site establishment, demolition, excavation and piling
• New Project Team in place, including appointment of new Project Director
• Outline Development Plan approval received for this significant Collins Street address
• Largest 6 Star Green Star Commercial Development in Melbourne
• This new commercial and retail precinct will complete Collins Street, and link Melbourne’s CBD with Docklands

The Collins Street extension to Docklands is to be completed with Walker Corporation announcing that it will commence work on its showpiece project at 735 Collins Street this week. This development is the last undeveloped whole city block of land on Collins Street, presenting a significant commercial opportunity that is unlikely to ever be repeated.

Master plan approval for development of one of Australia’s largest and most significant commercial precincts with an end-value of $850 million has just been granted to the Walker-Kuok Group Joint Venture to develop 200,000sqm (gross) on Collins Street.

The $850million development will span an entire city block, with frontages to Collins Street and Batmans Hill Drive. Comparable to the Collins Place development in scale, 735 Collins Street will comprise four commercial towers set over an extensive retail domain of 8,700 square metres including an innovative retail concept for revitalising the adjacent historic Goods Shed. The first of the commercial towers will be completed in late 2009.

The project will be anchored by an innovative “Laneway-esque” podium featuring an expansive transparent light-weight roof offering patrons year-round weather protection. The concept design will focus on an enlivened and activated space reminiscent of Melbourne’s much-loved laneways with a 21st Century twist.

The Walker Corporation has moved quickly to get the development underway since achieving planning approval. Last week Walker established its Victorian headquarters and project team for the development on site.

Walker has appointed the contractor to undertake the early works package including demolition, piling and site establishment, with works commencing before the end of the year. The main contractor will be announced early in the New Year.

Leading Australian architects Bates Smart have been appointed for the master plan, commercial and retail design. Roger Poole, Executive Chairman of Bates Smart said “This is the development that will complete Melbourne’s Collins Street. It presents a unique opportunity for businesses to join other prestigious Corporates in the Docklands precinct whilst also boasting the best commercial address in Australia – Collins Street.”

The development’s commitment to a 6-Star Green Star rating will enable tenants to put their environmental credentials and commitment into action through the building of a headquarters that is innovative, creative, technologically cutting-edge, environmentally sustainable and financially responsible. The development will feature a precinct-wide central co-generation plant, and water capture and re-use program.

735 Collins Street provides unsurpassed ease of access to public transport. It is two minutes walk from Southern Cross Station, has tram services at its front door, and offers exceptional vehicular access from both the Melbourne CBD and the greater metropolitan area.

To oversee the development, Walker has appointed Brad Vercoe as the Project Director. Mr Vercoe joins Walker Corporation from Lend Lease where he was the Senior Development Manager of the $3.5 billion Victoria Harbour precinct development at the Docklands. Prior to Lend Lease, Mr Vercoe had extensive experience working internationally on major commercial and retail projects in Dubai and Asia.

Lang Walker, Executive Chairman of Walker Corporation said today “I’m very excited about this new approval which we’ve been quietly working on over the past 18 months. We feel that in developing this new master plan, we’ve brought the very best place-making skills to the table to deliver a commercial and retail precinct that will rival international benchmarks.

“This development is one of the most significant commercial developments currently underway in Australia. It will bring together a mixture of innovative architecture, iconic Melbourne elements and leading environmental design to create a thriving new precinct for Melbourne.” Mr Walker said.

Project Director Brad Vercoe said of the 6-Star Green Star commitment “This is a unique opportunity. While many individual buildings are driving sustainability programs, this development adopts a holistic approach. The end result will be an environmentally responsible development which will deliver bottom-line savings for our tenants - setting new standards in the industry.”

Walker Corporation’s investment in this $850million project in Melbourne further consolidates its significant investment in Victorian property which includes the Point Cook City Centre project, the Main Street Kew project and the South Morang Bulky Goods Development. This Victorian program of development adds to Walker’s extensive national and international development strategy.