Salta Properties and Abacus Property Group have marked the start of construction for their latest commercial development ‘Industry Lanes’, celebrating the milestone occasion with an official sod turn ceremony onsite at 459-471 Church Street.
With an end value of more than $230 million, Industry Lanes will offer a new-world workplace with a campus-style environment that connects the development’s three buildings located in the heart of Richmond, one of Melbourne’s most desirable office locations.
Salta Properties’ Managing Director, Sam Tarascio, is pleased to see the development progress and highlighted the evolving needs of businesses looking for modern day buildings that not only provide excellent workspaces but also cater to the growing desire for work life balance and a sense of community.
Industry Lanes isn’t just a building, it will become a brand new precinct with areas that are highly flexible, catering for both large and small tenants so that fast-moving businesses can expand at any pace, all within one integrated development,Sam Tarascio
Industry Lanes will offer a diverse precinct of multiple uses including 18,000 sqm of prime office space across two buildings, connected at ground with a distinct sense of arrival off Church street, retail and courtyard spaces, a stand-alone childcare facility and 181 car parks. The precinct will also feature a mix of large and small in-between spaces including retail, communal amenities, open air courtyards and shared work zones, creating an internal village that links to the existing the streetscape.
Managing Director of Abacus Property Group, Steven Sewell, highlighted the appeal to invest in the development and the strength of its partnership with Salta Properties.
The opportunity to leverage Salta and Hansen Yuncken’s proven expert capability in design and construction, together with the location being well serviced by public transport and positioned to benefit from ongoing gentrification, were key considerations for Abacus,Steven Sewell
Designed by Architectus, Industry Lanes aims to foster a culture of innovation that appeals to fast-growth, dynamic and IT savvy businesses that understand their employee’s desire to work in a convenient and popular area that has everything at its fingertips.
Construction of Industry Lanes will be completed by Hansen Yuncken, which will see a workforce of almost 3,000 people on site throughout its build and a construction value of $90 million.
Scheduled for completion in 2021 Industry Lane’s first tenants are anticipated to move in soon after, with Colliers and JLL as the leasing agents.
Posted 27 February 2020