Seven, Wesfarmers commit to new Docklands precinct
Lendlease has secured two office tenants to the $2.9 billion Melbourne Quarter project, taking shape in stages at Docklands.
In the highest profile deal, the Seven will relocate from its long time headquarters at nearby 160 Harbour Esplanade, to part of a 34 storey tower at 699 Collins Street, due for completion next year.
The network will quit 8237 square metres – a move landlord Development Victoria has been waiting for, having bought that property, on 6701 sqm opposite Victoria Harbour, from NRMA for $100m in 2018 with plans to develop as part of a master-plan for the Marvel Stadium precinct.
It is unknown how much space Seven, controlled by billionaire Kerry Stokes, will take at the new building.
The deal comes two years since Medibank Private pre-committed to 25 per cent of the 70,000 sqm A-grade office.
Lendlease subsequently sold the investment to the National Pension Service of Korea for $1.2 billion – the state’s biggest office deal that calendar year.
The developer is still handling the leasing though (story continues below).
Wesfarmers commits to Melbourne Quarter
Seven will join Wesfarmers backed outfit OneDigital, incorporating catch.com.au, which also recently set up in the precinct, taking part of an established building, 1 Melbourne Quarter.
That group’s lease expires in the third quarter of 2027.
Colliers’ Occupier Services director Tim Farley acted for OneDigital and Seven.
Across multiple structures, Melbourne Quarter will contain c152,000 sqm of office space, 5000 sqm of retail, two apartment towers and an elevated public or sky park (pictured, top), opposite the southern entrance of Southern Cross (former Spencer Street) station.
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