ISPT

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Having announced that it is partnering with Victoria University to deliver its vertical city campus earlier this month, ISPT is wasting no time in getting the project off the ground, appointing Probuild as the head contractor for the project. The 24,000 sqm NLA vertical campus will be developed at 364-378 Little Lonsdale Street site and will include office and teaching space for key academic activities in addition to the integration of heritage and archaeological elements.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/vu-1-621x1000.jpg" rel="gallery-all" title="VU Tower will enliven the north-west corner of Melbourne's CBD. Image: ISPT"><img alt="" class="image-article-full-width-580px" height="934" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/vu-1-621x1000.jpg?itok=zn_tpR_o" title="VU Tower will enliven the north-west corner of Melbourne's CBD. Image: ISPT" width="580"></a>

<figcaption>VU Tower will enliven the north-west corner of Melbourne's CBD. Image: ISPT</figcaption></figure>The $200 million+ Daryl Jackson designed project includes the delivery of an integrated fitout by Woods Bagot, and upon completion will become Melbourne’s tallest vertical campus. Demolition works will commence in December this year, with project completion due prior to the end of 2021, in time for the 2022 academic year.

Probuild is currently applying the finishing touches to its other project for ISPT - 271 Spring Street and is also delivering some of Australia’s largest construction projects including The Towers and Ritz Carlton at Elizabeth Quay in Perth, Queens Wharf in Brisbane, Aurora Melbourne Central, West Side Place and The Greenland Centre in Sydney.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/271_spring_redden.jpg" rel="gallery-all" title="271 Spring Street is approaching completion. Image: Urban member redden"><img alt="" class="image-article-full-width-580px" height="435" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/271_spring_redden.jpg?itok=j0cammt8" title="271 Spring Street is approaching completion. Image: Urban member redden" width="580"></a>

<figcaption>271 Spring Street is approaching completion. Image: Urban member redden</figcaption></figure><h2>What they say...</h2>

<blockquote>
Significantly, this project signals Probuild’s re-entry into the University sector. This is our first vertical education campus and we’re looking forward to adapting our industry-leading expertise in high-rises to suit education needs.

Victoria University is expanding their CBD presence in order to provide industry-best learning spaces and attract the very best students. Probuild is excited to be working alongside ISPT to deliver the next generation in University development.

- Luke Stambolis, Probuild Victorian Managing Director
</blockquote>

 

<blockquote>
 
Following the successful ISPT acquisition of three Melbourne CBD properties offered to the market by Victoria University, ISPT is pleased to collaborate with Probuild to now deliver Melbourne’s tallest vertical campus, with a long term lease back to the University.

Once complete, the tower will anchor this burgeoning knowledge precinct and add to the growing portfolio of properties delivered by ISPT as the sole developer and long-term owner. This project is a key addition to our development workbook and represents an important extension of our investment into the education sector.

- Jason Lourensz, ISPT’s Senior Development Manager  
</blockquote>

<h2>Probuild's Construction Pipeline</h2>

<iframe frameborder="0" height="420px" src="https://www.urban.com.au/developments?builder=Probuild&amp;embeddable=map" width="100%"></iframe>
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Laurence Dragomir

Probuild appointed for $200m Victoria University Tower

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A long dormant project is set to finally be realised after it was announced late last year that ISPT has partnered with Victoria University and the Victorian Department of Education and Training to develop a new 32-storey vertical campus in the at <a href="https://www.urban.com.au/projects/vu-tower-364-378-little-lonsdale-street-melbourne">364-378 Little Lonsdale Street</a> in Melbourne's CBD. The Jackson Architecture-designed project <a href="https://www.urban.com.au/news/vu-queen-st-set-for-expansion">was covered all the way back in March of 2013</a> when Urban was first launched, and was also one of the first projects added to the Project Database.

The 24,000 sqm vertical campus will be developed by ISPT and will incorporate office and teaching space for key academic activities, to be leased back to the University, consolidating its city campuses into a single new precinct. Victoria University hopes the new precinct and the University’s greater presence on the western edge of the Hoddle Grid will assist the University in forming better connections to its nearby campuses across the west of Melbourne.

ISPT says the Victoria University Precinct project represents a prime example of the company's strategy to "pursue true development opportunities in partnership with customers to unlock development returns for our Investors." As part of the tender ISPT will also acquire two heritage-listed properties from Victoria University; the Former Records Office at 287-295 Queen Street and the Land Titles Office at 247-283 Queen Street.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/vu-1_1530x2500_acf_cropped.jpg" rel="gallery-all" title="ISPT will deliver a new 32-storey vertical campus for Victoria University. Image: ISPT"><img alt="" class="image-article-full-width-580px" height="948" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/vu-1_1530x2500_acf_cropped.jpg?itok=eFh_y2-M" title="ISPT will deliver a new 32-storey vertical campus for Victoria University. Image: ISPT" width="580"></a>

<figcaption>ISPT will deliver a new 32-storey vertical campus for Victoria University. Image: ISPT</figcaption></figure>Further details of the new development:

<ul>
<li>The new City West Precinct will provide space for students from VU Polytechnic, as well as VU’s Business School, College of Law and Justice, and College of Health and Biomedicine, and the VU College</li>
	<li>VU Research centres will also have an important presence within the new precinct, as will the VU Law School, which will continue to operate in its current building, as well as benefiting from the new spaces within the precinct.</li>
</ul>
According to Victoria University, State Government approval for the deal was provided on the basis that “the University establishes a ‘New Infrastructure Fund’ in its accounts that holds the proceeds of sale for reinvestment in new infrastructure.”

Work on the 32-storey tower is set to commence next year with completion slated for 2021.  Students are expected to begin studying in the new precinct in the first semester of 2022.

<h2>What they say...</h2>

<blockquote>
The new City West Precinct will revitalise this iconic part of the city, restoring the historic Land Titles Office, while also improving the local amenity and spawning a reborn urban experience in the western parts of the Melbourne CBD.

We are fortunate to be partnering with ISPT on this project which will help us to create a world-class precinct for our students in the CBD, while also establishing an infrastructure fund to enable exciting investment opportunities for our campuses in our heartland throughout the west of Melbourne.

- Professor Peter Dawkins.​​​​​​, Victoria University Vice-Chancellor and President
</blockquote>

<blockquote>
We look forward to working collaboratively with Victoria University to ensure we deliver a new campus and educational environment that meets the current and future needs of staff and students, while creating an architectural statement befitting the prominence of the site in a CBD context.

The transaction demonstrates the long-term capital alignment of industry superannuation funds with the tertiary education sector.

This project is a key addition to our development pipeline and represents an important milestone in our participation into the education sector. Education is a major services export contributor, critical to the economy over the medium to long term, and this project will diversify our exposure and that of our Investors to this important sector.

- Daryl Browning, ISPT CEO
</blockquote>
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ISPT set to deliver Victoria University's new vertical city campus

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The development team behind one of Melbourne's most recent commercial tower applications has had right of reply to City of Melbourne's varied concerns regarding their proposal located at 267-271 Spring Street.

Property fund manager and developer ISPT has Australian Unity pencilled in as the prospective project's tenant, with John Wardle Architects handed the task of creating the modern edifice above the current low-rise heritage buildings onsite. Post the project's submission during June of this year, City of Melbourne have raised concerns regarding a variety of aspects relating to the development.

Last week Urbis responded on behalf of the development team.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image41_6.jpg" rel="gallery-all" title="The project's Little Lonsdale Street perspective. Planning image: Urbis"><img alt="" class="image-article-full-width-580px" height="373" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image41_6.jpg?itok=VRIBT64d" title="The project's Little Lonsdale Street perspective. Planning image: Urbis" width="580"></a>

<figcaption>The project's revised Little Lonsdale Street perspective. Planning image: Urbis</figcaption></figure>Many of City of Melbourne's concerns focus on the project's impact upon the heritage buildings in the immediate area, along with the appropriateness of the tower's form. The concerns in many ways mirror the stance taken by Melbourne Heritage Action, which considers the proposal to be <a href="https://melbourneheritage.org.au/2016/07/01/call-for-action-objection-to-facadism-of-elms-famil-hotel-and-demolition-of-surrounding-heritage/">demonstrative to the heritage precint's overall existing character</a>.

<blockquote>
Not only will the proposed office block involve the facadism of the 1925 Elms Family Hotel, it will dominate other heritage buildings on the site, like the 1913 Mission Hall, and the cottage on Casselden Place behind. It will also destroy some of the last remnants of the famous (infamous!) ‘Little Lon’ district, including the last section of Griffin Lane, and two small-scale 1920s red brick buildings that do not have individual heritage protection.

Melbourne Heritage Action believes that the precinct as a whole, from the Mission in Spring Street down to Oddfellows Hotel, is one that should obviously have been made a Heritage Precinct many years ago. This group of buildings not only creates an area and streetscape that hasn’t changed since the 1920s, but is the largest intact remnant of the notorious ‘Little Lon’ area.

<cite>Melbourne Heritage Action</cite>
</blockquote>

As of last week 38 objectors had taken their concerns to Council.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image46_6.jpg" rel="gallery-all" title="The tower's exterior. Planning image: John Wardle architects"><img alt="" class="image-article-full-width-580px" height="629" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image46_6.jpg?itok=DtA-1m6M" title="The tower's exterior. Planning image: John Wardle architects" width="580"></a>

<figcaption>The tower's exterior. Planning image: John Wardle architects</figcaption></figure><a href="http://www.melbourne.vic.gov.au/building-and-development/property-information/planning-building-registers/Pages/town-planning-permits-register-search-results.aspx?appid=257302">Urbis' response</a> acknowledges the concerns raised by the objectors, while also asking Council to consider the "balance of objectives sought by the planning scheme and the extended consultation process conducted between the proponent and Council." Further to this Urbis point out that 267-271 Spring Street with Australian Unity in tow would be a boost to the CBD's economic success, given very few permitted commercial developments have proceeded to construction within the CBD during recent years.

For the most, the development team's response justifies the design ethos and outcome of the originally submitted scheme. Essentially Urbis' response adds further weight to the development team's stance, rather than making wholesale changes to the tower's design.

Concerns regarding heritage issues, setbacks to Spring Street and Littler Lonsdale Street, the project's perceived community benefit (or lack of), overshadowing and overlooking have all been addressed by Urbis. Following consultation with Melbourne Heritage Action and other vested parties, the only discernible changes to the proposal have been to retain the internal rear and side walls of the Elms Hotel and a change to the podium treatments to Little Lonsdale by way of additional glazing.

Beyond the above machinations, 267-271 Spring Street's fate lies in the hands of City of Melbourne, with a final approval decision likely to be some months away.
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