Property Australia

Bennetts Lane roars back into life

PROPERTY AUSTRALIA October 1, 2019

A boutique A-Grade office building in Bennetts Lane promises to revitalise a once forgotten corner of the Melbourne CBD, says Perri Projects managing director David Scalzo.

Developers Perri Projects and Pellicano have gained planning approval for the 20-floor Bennetts Lane commercial tower and construction is expected to kick off in mid-2020.

With an end value of $170 million, the 12,000 sqm tower, designed by FJMT, is slated for final completion in early 2022

According to Scalzo, this is Perri Projects’ first foray into the CBD office market. The private developer will adopt a long-term retention strategy for the asset, he says.

“17 Bennetts Lane is a significant project for our business and, as a major public realm and laneway revitalisation project within an underdeveloped pocket of the city, it’s also a significant development for Melbourne.”

The fast-emerging north-east corner of the CBD is currently experiencing a construction mini-boom, Scalzo says, pointing to Charter Hall’s Wesley Place, the Shangri La Hotel and major residential and student accommodation on La Trobe Street.

“17 Bennetts Lane will be the keystone for the revitalisation of this once forgotten corner of the city that is now roaring back to life,” Scalzo adds.

“Our vision for the project is a dynamic vertical village above a vibrant laneway street life.”

The building’s cascading façade – coupled with state-of-the-art end of trip facilities – has been designed to suit a range of emerging, creative companies looking to set themselves apart from the rest of the market.

As a function of its striking tiered external design, the building will offer a wide range of space options for a diverse mix of businesses looking to lease entire floors.

The lower levels will offer larger 1,200 sqm floorplates for larger businesses. The upper levels will target SMEs and offer smaller floorplates, with all featuring natural light on all sides and terraces overlooking the CBD skyline.

“Our tenants will also benefit from a range of shared work and lifestyle spaces, a hotel-style office concierge service and a sharp focus on environmentally sustainable design and occupant satisfaction and wellness, with the project targeting Gold WELL standard,” Scalzo concludes.