Australia Post will relocate its headquarters to Melbourne’s inner east Burnley.
A company spokesperson confirmed the move to 480 Swan Street will take place in 2024 – when its lease at the city’s Southern Cross West tower (pictured, top) expires.
Charter Hall and PDG will develop and retain the replacement 13-storey office, the tenant added; it is expected to have a net lettable area of about 35,000 square metres.
The proposal was pushed through planning last year by Bamfa Properties – led by Adam Agosta – who said it will also hold an interest (story continues below).
At the south east corner of the Burnley St overpass, abutting Burnley train station, the tower will require the demolition of warehouses occupied by Mitchell Building Supplies, and five terraces.
Australia Post’s interim chief executive Rodney Boys said the move will reduce property leasing costs – with speculation it will pay net starting rent of less than $600 per sqm, per annum.
The government arm is presently based at Blackstone and Brookfield’s 44,781 sqm 111 Bourke St, constructed in 2009.