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OFFICE

OLDERFLEET 477 COLLINS STREET

477 Collins St, Melbourne, VIC 3000

Completed in 2020 and located on Melbourne's premier office street in the heart of the CBD, Olderfleet 477 Collins Street is an iconic 58,000 square metre Premium grade office tower designed by award winning architects Grimshaw, with interiors by Carr Design. The building pays homage to Melbourne's past with its sympathetic refurbishment of three prominent heritage buildings fronting Collins Street. The development includes smart technology, leading sustainability features and premium amenities, including hotel-style end-of-trip facilities, childcare, a concierge and flexible space options. Anchor tenant Deloitte has 26,000 square metres of space and they are joined by several other organisations including Norton Rose Fulbright, Lander & Rogers and Urbis. Olderfleet was the first office building in the country to achieve a Platinum Core and Shell WELL Pre-Certification. The building has achieved a 5.5 Star NABERS Energy and 6 Star Green Star ratings.

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Grade
Premium
Nabers Rating
5.5 Star
Ownership
50% Mirvac, 50% Suntec
NLA
58,594 SQM

Summary information

Acquisition/Agreement Date Jul-20
Last External Valuation Date Jun-24
Valuation at 31-DEC-24 $413.5m
Valuer Directors Valuation
Capitalisation Rate 5.63%
Discount Rate 6.75%
Gross Office Rent $988/sqm
Car Spaces 416
1. Book value represents Mirvac's ownership.

Lease Expiry Profile % Income

Wale: 6.5 YEARS

Major Tenants

Entity Name NLA / GLA SQM Lease Expiry
Deloitte 26,839 Jun-32
Entity Name NLA / GLA SQM Lease Expiry
Landers & Rogers 5,924 Dec-32

Mirvac acknowledges Aboriginal and Torres Strait Islander peoples as the Traditional Owners of the lands and waters of Australia, and we offer our respect to their Elders past and present.  

Artwork: ‘Reimagining Country’, created by Riki Salam (Mualgal, Kaurareg, Kuku Yalanji) of We are 27 Creative.