The Foundry, 399 Bourke Street & 368 Little Collins Street

eastwood

Overview

The Foundry has been constructed with future development in mind, with a unique design, allowing the future tower to be built above the existing building, with the tower service core already in place, ensuring minimal disruption to the existing property and the ability to maintain the significant cash flow currently being generated.

Objective and Strategy

Planning permits exist for the development of a 38 level commercial office building above the existing mixed use asset, adding an additional 25,570 sqm of NLA, or alternatively, town planning approval has been granted for a major residential development that will allow the construction of a 200 metre or 62 storey high residential tower.

The current market conditions favours either option, with the residential market set to experience strong future demand via significant forecast population growth within the Melbourne CBD and the commercial market currently experiencing historical low vacancy rates, strong tena

Key Information