Privately owned Singaporean property investment and management company, Peakstone, has commenced the $80 million refurbishment of its 637 Flinders Street commercial asset in the booming Northbank precinct of Melbourne’s CBD.
Designed by Cox Architecture, with Built engaged as the contractor, 637 Flinders Street will be transformed into a 14-level PCA A-grade campus-style office precinct with a 5-star NABERS energy rating and a focus on contemporary wellness amenity and increasing connectivity.
The redevelopment of 637 Flinders Street will retain and utilise the existing façade features, adding approximately 2,062 square metres to the building’s current net leasable area for a total of 25,112 square metres.
Large flexible floor plates will measure from 650 to 3,700 square metres, with two separate end cores and two entrances from Flinders Street and Siddeley Street.
The highly efficient campus-style floors from Levels 3 to 8 will have numerous terraces accessed from their office spaces, while Level 9 will incorporate an expansive rooftop terrace and external communal area, with flexibility to be developed into recreation space.
Approximately 970 square metres of retail space at ground level will target two food and beverage operators and a convenience-based supermarket.
Amenities on-site will include end-of-trip facilities encompassing 202 bike racks, 321 lockers, 25 showers and changerooms. Parking for 121 cars, incorporating car share, electric-charging stations and advanced car-parking technology will also be provided.
Peakstone’s Head of Australia and New Zealand, Chris Khoo, said the 637 Flinders Street redevelopment formed a part of the company’s ongoing strategy to breathe new life into its underutilised assets.
“637 Flinders Street is a rare infill opportunity in the city, sitting between the Yarra River and Melbourne’s traditional CBD grid, enhancing connectivity and making it a well-balanced workplace and lifestyle destination,” Mr Khoo said.
“Occupying a significant 4,200-square-metre site with 100-metre frontages to Flinders and Siddeley Streets, our goal is to elevate the precinct to a premium standard that aligns with its prominent location, and we are confident that Built’s expertise can deliver on this vision.”
Built has commenced construction on 637 Flinders Street, with completion slated for the third quarter of 2022.