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Charter Hall Group (Charter Hall or the Group) is pleased to announce that it has secured a lease commitment to the Victorian Civil and Administrative Tribunal (VCAT) at 300 La Trobe Street in the Melbourne CBD. VCAT will relocate its CBD headquarters from 55 King Street, consolidating its operations to the 14,000 square metre (sqm) A-grade commercial space.
Owned by a Charter Hall wholesale partnership known as Charter Hall Office Trust (CHOT), 300 La Trobe Street is set to undergo a transformation into a next-generation workplace with impressive sustainability credentials and generous, flexible floor spaces. The upgrade will further enhance the existing building facilities, providing direct access to natural light from four frontages, large 1,500sqm floorplates and greater inter-floor connectivity. Plans also include new ground floor retail and a laneway, creating improved access to the surrounding amenity.
Sustainability sits at the heart of the transformation, with the adaptive re-use of the existing building fabric helping to reduce its carbon footprint. Upon completion, the building is targeting a 6-star NABERS Energy rating, 5-star Green Star Performance rating, and reduced carbon emissions of approximately 70%, with 100% of base building energy to be procured from renewable sources.
VCAT will also benefit from the public transport links, positioned directly across from Melbourne Central Station with direct access to Flagstaff Station and the future State Library Station, which will be delivered as part of the Metro Tunnel Project. With trams running along La Trobe and Elizabeth Streets, it also provides excellent access to the courts precinct and Barrister’s Chambers.
Charter Hall Office CEO, Carmel Hourigan, said, “We are pleased to be partnering to deliver a workplace that meets the unique needs of VCAT’s people, as well as those supported by its important work.
“With plans for two separate, secure entrances for the public and VCAT’s employees and members, as well as private end-of-trip facilities, touchless entry, ground floor concierge, electric vehicle charging, and our tenant customer experience app, we look forward to delivering a future-focused workplace that achieves the organisation’s goals over the next two decades. Further, the whole-of-building upgrades will support our sustainability objectives, as well as those of our tenant customers, and underpin the strength of our portfolio.”
Building works will commence in mid-2024 to transform this CHOT-owned asset into a long WALE, A-grade office tower accommodating a variety government and corporate tenants within a high performing precinct in Melbourne’s CBD.
The transaction was brokered by vendors agents JLL and Cushman and Wakefield.