PRESS RELEASE
November 24, 2017
Mitsubishi Estate Co., Ltd. Mitsubishi Jisho Residence Co., Ltd.
Mitsubishi Estate Announces Participation in Melbourne Quarter East Tower Development Project in AustraliaMitsubishi Estate Co., Ltd. and Mitsubishi Jisho Residence Co., Ltd. announced that the two companies reached an agreement to participate in the Melbourne Quarter East Tower Development Project (the Project) as of November 24, 2017. The Project will be developed in collaboration with Lendlease Ltd., a real estate and infrastructure group in Australia. The Project is a large-scale tower condominium 44 stories above ground with 719 total units in the heart of Melbourne. It is the Mitsubishi Estate Group's first residential business in Australia.
[Project Features]
・Mitsubishi Estate Group's first residential business in Australia
・The first residential part of the Project is a large complex development with three office buildings and three residential buildings
・Large-scale residential development business with 44 stories above ground, with 719 total units
While the residential population in Melbourne, Australia, is about 4.4 million people, it is growing at a pace of about 100 thousand people annually and there is a rising need for housing. The planned site is located southwest of central Melbourne. It provides easy access to transportation, because it is very close to Southern Cross Station, a major terminal.
The Project consists of residential development in one district of the Melbourne Quarter project,
a large complex redevelopment project. Construction will start at the end of November 2017, and is scheduled to be completed in 2020.
The Mitsubishi Estate Group conducts international business in nine countries in Asia and Oceania.
▲ Expected completion CG
It will actively promote the real estate business overseas utilizing its real estate development know-how and product planning capabilities, which have been cultivated in countries around the world.
[Project Outline]
Project interests | 50% for Lendlease, 50% for Mitsubishi Estate Group |
Location | Melbourne, Victoria, Australia About one minute's walk from Southern Cross Station |
Building scale | 44 stories above ground |
Total residential units | 719 units |
Room layout | 1 bedroom - 3 bedrooms |
Exclusive area | Approx. 50 m2 - 119 m2 |
Site area | Approx. 4,415 m2 |
Total floor space | Approx. 58,730 m2 |
Architect | Fender Katsalidis Architects (Melbourne-based design company established in 1996 that mainly conducts business in Oceania.) |
Construction | Lendlease |
Start | End of November 2017 |
Completion | 2020 (Subject to change) |
[Image of Completed Development]
▲ Expected completion CG (entrance) ▲Expected completion CG (courtyard)
▲Expected completion CG (bed room)
▲Expected completion CG (pool and gym) ▲Expected completion CG (spa)
[About the Melbourne Quarter Project]
The Project is part of the Melbourne Quarter project, a large complex redevelopment project being promoted by Lendlease. The overall plan includes the development of three office
buildings and three residential buildings, including commercial facilities (approx. 1,690 total units). Overall construction is expected to be completed in 2026 or thereafter.
East Tower project
▲Expected completion appearance CG of the Melbourne Quarter Project
[Wide Area Map]
Planned site© OpenStreetMap contributors
[Medium Area Map]
Melbourne Airport Central Melbourne Planned site© OpenStreetMap contributors
[Narrow Area Map]
Melbourne Quarter planed site Southern Cross Station Planned site of this property© OpenStreetMap contributors
Mitsubishi Estate Co. Ltd. published this content on 24 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 24 November 2017 08:06:04 UTC.
Original documenthttp://www.mec.co.jp/e/news/pdf/mec171124melbournequarterenglish.pdf
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