Lendlease has announced the acquisition by National Pension Service of Korea (NPS), one of the world’s largest pension funds, of a 100 percent interest in Melbourne Quarter Tower, the largest and last commercial office building of the A$3 billion ($2.2 billion) Melbourne Quarter precinct. The investment will be managed on behalf of the NPS by Lendlease Funds Management.
Medibank, one of Australia’s largest private health insurers, will be the anchor tenant of the premium-grade tower. Designed by international architects Woods Bagot, the 34-level building will become Medibank’s new national headquarters.
The Melbourne Quarter precinct development highlights the value of Lendlease’s integrated model, where its asset creation capabilities provide capital partners with access to high quality investment product.
Located directly across from Southern Cross station, Melbourne Quarter Tower will deliver 34 levels of premium grade office space and be home to
