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New kid on the block for Collins St development

New kid on the block for Collins St development

A major Mirvac redevelopment on Melbourne’s iconic Collins Street has secured Deloitte as an anchor tenant for Olderfleet Place.

Firms: Herbert Smith Freehills (Mirvac); Mills Oakley (Deloitte)

Deal: Deloitte has confirmed it will move into a new building as the anchor tenant of Mirvac’s redevelopment of 477 Collins Street in Melbourne.

Value: Undisclosed

Area: Property

Key players: The HSF team advising Mirvac was led by partner Jane Hodder (pictured). Senior associate Dinh Ptok assisted.

HSF partners Geoffrey Hansen and Peter Holloway also provided advice on the existing buildings and tenancies associated with the site, protection works and demolition works.

Deal significance:

Mirvac’s redevelopment of Olderfleet Place at 477 Collins Street has secured Deloitte as its anchor tenant for a site comprising at least 22,000 square metres.

The existing building, with 55,000 square metres of office space, is being redeveloped with a vision to become of “Melbourne’s leading smart office towers”.

According to a statement released by Mirvac’s legal advisers on the deal, the tenancy pre-commitment will enable the development to start.

Lead HSF partner Jane Hodder said she was pleased with the successful outcome.

“We are delighted that Mirvac will now be able to proceed with plans to create one of Melbourne’s leading smart office towers.

“The innovative redevelopment plans to incorporate the benefits of contemporary design while ensuring the 1880s facade of the Olderfleet building remains,” Ms Hodder said.

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