Medibank commits to Melbourne Quarter Tower

The office will be Docklands’ tallest tower.

Lendlease has secured Medibank to 25 per cent of Melbourne Quarter Tower – set to be Docklands’ tallest building.

The health insurer has signed a 10 year lease for 17,500 square metres at 699 Collins Street.

Melbourne Quarter Tower’s upper levels.

It has also taken signage rights.

Construction of Melbourne Quarter Tower started earlier this year; it is due for completion in 2024.

Melbourne Quarter will include seven buildings – a mix of offices and residential.

Medibank, which was represented by Colliers’ Tim Farley supported by Justin Lam and Mitch Bolger, will relocate from nearby 720 Bourke St, owned by Cbus Property.

Having secured the commitment, Lendlease is expected to sell the asset to a capital partner.

Melbourne Quarter Tower

Melbourne Quarter Tower will contain 70,000 sqm over 34 floors.

At 165 metres, it will be seven per cent taller than Victoria Police’s headquarters (311 Spencer St, at 156m).

Until a redesign two years ago, Lendlease had intended it to be 29 floors – or 137m.

The $1.2 billion property will include retail and a deck connected to Wurundjeri Way.

A sky-garden, the first stage which opened in 2019, will be extended along its northern boundary, opposite Southern Cross station.

The Medibank headquarters is one of seven buildings – a mix of commercial and residential – approved as part of the $3b Melbourne Quarter precinct.

Two other offices have been constructed.

The project will include a laneway connecting Collins and Flinders streets (story continues below).

A sky-park, part developed in 2018, will divide Melbourne Quarter Tower from Collins Street.

Medibank @ Melbourne Quarter Tower

Medibank is expecting more than 2500 staff to work at 699 Collins St.

“We’re a healthcare company and we remain anchored in playing a role in supporting our people achieve good health and wellbeing, and this will be at the centre of all design elements,” the company’s group executive, People & Culture, Kylie Bishop, said.

“The space by Gray Puksand will include interconnecting floors with tiered voids, greenspaces, natural light, a rooftop basketball court, external terraces and a wellness offering,” according to the executive.

Gray Puksand partner Heidi Smith added the designer will make the workplace “a health-centred environment” tailored to Medibank’s culture.

“We’re so excited to be working with Medibank to deliver a new workplace aligned to their future fit workplace strategy. We want to bring people back together, to connect and collaborate in a meaningful way,” she said.

“Medibank proudly embraces and promotes diversity and inclusion and the design at Melbourne Quarter Tower will be a celebration of this.

“It will provide space for various cultural practices, the design will acknowledge and show respect to First Nations people, our neurodiverse workforce, and those that require accessibility”.

Medibank group executive, Technology and Operations, John Goodall, said the company’s Future Fit strategy aims to give Medibank people greater flexibility and access to technology.

“Our technology will provide an equitable platform for all work methods, irrespective of location, culture, or personal circumstances,” according to the executive.

Lendlease executive development director, Brian Herlihy, described Melbourne Quarter is one of the city’s largest mixed-use urban regeneration developments.

Melbourne Quarter Tower is seeking a 6 Star Green Star Design for office design.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of