Charter Hall fund to develop A$1.5b Melbourne office project

Prime Office Fund, a A$5.3 billion ($3.4 billion) fund managed by Charter Hall, has plans to develop a A$1.5 billion ($1.1 billion) premium office project in Melbourne’s CBD.

The first phase will total 45,000 square meters (840,000 square feet) spanning up 35 stories at 555 Collins St. A timeframe for the second phase has not been determined, but it will be a 32-level tower on 55 King St. The adjacent buildings will be joined by connecting walkways.

Charter Hall is working in partnership with one of Australia’s largest multi-disciplinary firms, Cox Architecture, and global design and architecture firm, Gensler.

Charter Hall acquired the site in October 2018 from previous owner Fragrance Group.