Global property owner and developer Hines is planning on bringing its T3 brand to an inner-city suburb of Melbourne. The timber, transit and technology development will scale 12 storeys above a corner property in Collingwood purchased for $28.5 million AUD, according to The Urban Developer.
Jackson Clements Burrows Architects was assigned by Hines to design the $200 million AUD office development, which will be constructed using prefabricated timber. The project will be the firm's first in Australia, having established a presence in the country in 2012 with $125 million in assets currently under management.
Population growth in Melbourne has fuelled a significant building boom that has spread to suburbs in the region. Numerous corporations have set up shop in Collingwood, including Swisse and Aesop, as a number of other highrise projects and warehouse conversions reshape the precinct. The property bought by Hines at 36-52 Wellington Street is currently occupied by one of the ubiquitous warehouse buildings found throughout the suburb.