Unveiled: Stunning redesign planned for Olderfleet building

Melbourne’s stunning Olderfleet building may be among the city’s older architectural icons, but it’s about to become the centre of a very modern wave of commercial property.

Rising four storeys above the street, the Venetian Gothic style building at 471-477 Collins St dates back to 1889 when it was designed by architect William Pitt amid a building boom driven by the city’s rising prominence.

Almost 120 years on a redevelopment officially launched by Mirvac on November 23, is set to transform it into a modern commercial and office hub designed to embrace the city’s rising prominence for technology driven businesses.

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The original building’s impressive facade will be retained and renewed, while an ultra-modern tower of glass is erected behind it, according to Mirvac head of office and industrial Campbell Hanan.

Demolition at the site has already begun, and completion is due by March 2020.

The Olderfleet building at 471-477 Collins St is set to blend the old world with the future.

While the heritage component of the building has been there the longest, it will be the last to be leased.

“(But) we are getting a staggering amount of interest in the old heritage aspects,” Mr Hanan said.

In a nod to the level of thought that has gone into the newer aspects, economics firm Deloitte has already signed on as the major tenant.

Hanan says he believes another significant tenant will soon bring it to 50% leased years before the building is complete.

The attraction stems from two aspects.

First, the aesthetics.

An impressive tower will be added behind the heritage facade at 471-477 Collins St.

“This is a pretty iconic building, or we hope it will be an iconic building,” he says.

“A lot of the work has been about getting beautiful architecture and great interior design, health and wellbeing, and history and technology.”

The second reason is that it will serve as part of the new wave of smarter buildings being introduced to the city.

“There are some really great new designs of Melbourne buildings, either in design or being built, and each iteration is the next step along,” Hanan says.

Updates to the city’s commercial property are being driven by the strength of the economy, he adds.

The upper terrace planned for the building.

“You do see a constant march towards better quality real estate,” he says.

The demands on office space are changing and growing more sophisticated, and now include having the right infrastructure in place to support coming advances in internet technology as well as Artificial Intelligence, according to Hanan.

“We know for certain the world is changing pretty quickly, so it’s a pretty scientific process,” he says.

“Particularly the technology and how it can help in the utilisation of space and services.”

Things like having the infrastructure in place that can track how much use seats are receiving so businesses can plan to accommodate their workforce in the best way.

“We often describe it as a new force of work that is starting to impact the work force,” Hanan says.

Flexibility in office spaces, as well as the technology being used there will be increasingly important for Melbourne’s commercial real estate.

In addition to new buildings coming into the CBD, would be an increasing rate of redevelopment of the city’s existing buildings, he adds.

“I think you will see a lot more retrofitting of existing assets,” Hanan says.

“But that’s not always an easy process with a building that’s full of tenants.”

This article from the Herald Sun was originally published as “Olderfleet building getting major upgrade to mix old with new”.