- The project will be made up of 27,000 sqm of total office space
- Cox Architecture have been tasked with designing the project
- The neighbouring site is set to become Australia Post's new $400M head office
Private developer Bamfa Properties has submitted plans to the City of Yarra for a $350 million office project at 484-488 Swan Street in the inner Melbourne suburb of Burnely.
The news follows the sale of the neighbouring 480 Swan Street to Charter Hall, which is set to become a $400 million head office for Australia Post, who are relocating from the CBD.
The project is made up of 27,000 sqm of total office space and offers floor plates of up to 2,400 sqm, taking advantage of views over the Yarra, Hawthorn, Camberwell and north towards Richmond.
Cox Architecture have been tasked with designing the project – who are also behind the Australia Post building – with the practice noting the proposed office is one of the first true post-Covid designs in the area.
“484 Swan Street has been designed to put people first through a socially connected and engaged workplace community that offers the amenity, culture and convenience of Richmond’s city fringe location with the benefit of direct and easy access to the CBD,” said Cox Architecture Director, Simon Haussegger.
These neighbouring sites will create a combined $750 million office precinct in the commercial hub, which is adjacent to Burnley Station. The latter is connected to four of Melbourne’s busiest rain lines.
Adam Agosta, Bamfa Properties Managing Director, added that Burnley’s super-connectivity was a drawcard for those businesses seeking to future-proof their offices.
“Business leaders are up against the work from home revolution. Certainly, making it easy for people to return to work is high on the agenda in the early conversations we are having with prospective tenants,” said Mr Agosta.
“Undeniably they’re also attracted to rents in Burnley when compared to the CBD. For some of these businesses they could save up to a third of what they are currently paying.
Adam Agosta, Bamfa Properties
“This project, along with the Australia Post building will add 60,000sqm of office space to the Burnley commercial precinct which will soon become one of Melbourne’s most vibrant city fringe locations,” he concluded.
The project is aiming to target the best in class tenants, and is seeking a Net Zero Carbon, 5.5 NABERS rating and 6 Star Greenstar energy rating.
The City of Yarra is expected to provide an outcome before the end of the year.
