Mirvac’s in-house design and construction teams will work alongside Japanese Real Estate entity Daibiru on its new 7 Spencer Street development in the wake of the company investing in a 50 percent share of the project.
Located at the edge of Melbourne’s CBD, the project will create 250 new jobs. Spanning 21 levels and 46,000 sqm of a-grade floor space, the new tower will feature views of the nearby Yarra and will allow light to permeate throughout.
“We are delighted to partner with Daibiru, a respected Japanese commercial property developer and owner, to deliver 7 Spencer, with both our companies committed to creating great quality, future-proofed workplaces of the future,” says Mirvac Group CEO Campbell Hanan.
“7 Spencer Street is the integral final project in the creation of an exciting new true mixed-experience precinct, bringing together a world-class modern workplace, build-to-rent apartments at LIV Aston, and quality retail and amenity, all located in Melbourne’s emerging Northbank precinct.
“Building a strategic relationship with a high calibre investor like Daibiru, is consistent with our funds management strategy to sell down an interest in our assets to strategically aligned, long-term investment partners.”
Daibiru CEO Takashi Maruyama says he is excited by the ability to partner with an Australian heavyweight in a relatively untapped market for the company.
“We are very pleased to partner with highly reputable real estate developer Mirvac to develop 7 Spencer Street as an optimum project,” he says.
“Our vision to develop top-notch office buildings on the premise of long-term ownership is aligned with Mirvac's, so we believe that we can enhance our partnership in many years to come. We look forward to creating innovative and attractive workplaces together with Mirvac.”
7 Spencer will be fully electric, designed to achieve a 5 Star Green Star rating, 4.5 Star NABERS Water rating, 5.5 Star NABERS Energy rating and a Gold WELL Core and Shell rating.
“This project marks an exciting milestone for Mirvac’s growth in Melbourne and follows the successful delivery of the globally-recognised and multi-award winning Olderfleet office building on Collins Street,” Hanan continues.
“With the new Greenline Project and greater Northbank precinct tipped to attract more than 1.1 million additional visitors annually, we look forward to creating a vibrant hub that brings great businesses and workforces together, where retailers will thrive, and residents have the opportunity to live in a new mixed use precinct closely connected to transport and other amenity.”
