AUSTRALIA Melbourne CBD Office Building Development Project
Partnering with a local company to
expand into the Australian office market
Overview of the Melbourne CBD Office Building Development Project
Australia is a developed country where stable economic growth and population increase are expected. In light of the high transparency and liquidity of the real estate market, we positioned Australia as a promising investment target. We moved forward with our investigation of investment projects, and in 2018 acquired the 275 George Street Development Project in Sydney. We sent resident personnel to Australia in 2019 and searched for new investment projects. These efforts led to the current project, out second in Australia and first in Melbourne.
Timeline to completion of construction
-
- May 2023
- Participation in the Melbourne CBD Office Building Development Project is announced.
-
- Dec. 2025
- Completion of construction (scheduled)
Details
Maximizing location
Melbourne has the second largest economy in Australia after Sydney. In 2023, we joined a development project in central Melbourne led by major Australian real estate company Mirvac Limited and acquired a 50% stake in the development rights for the tentatively named “7 Spencer Street.”
The A-grade office tower being developed with Mirvac Limited not only has excellent transportation access but also boasts natural scenic views. With its location between the city’s central business district and a concentration of tourist and commercial facilities, the building is expected to enhance connectivity in Melbourne.
Expanding our business through deepening collaboration
Along with our efforts to create more comfortable and fulfilling workspaces, we are also focusing on obtaining environmental certifications as part of committed to achieving zero emissions.
Our approach aligns with Mirvac’s business policy of developing high-quality office buildings with a focus on long-term ownership. By enhancing our partnership, we aim to gain insights and continue to bolster our group’s operations in Australia.
VIEWPOINT
Aiming to enhance our presence in Australia
There are occasional challenges due to the differing business practices between Japan and Australia, but at monthly development meetings, Mirvac’s team genuinely listens to our perspectives and integrates our ideas wherever they can. Through my involvement in this international joint development project, I feel I am helping boost our presence in Australia, which I see as a valuable opportunity that supports the growth of our business.
Daibiru Australia Pty Ltd
R.T.
New graduate hire in fiscal 2009.
Assumed current position after working in the Corporate Strategy Office (now the Corporate Planning Department), Osaka Office Leasing & Operations Department, and Overseas Business Department.
INFORMATION
Property information
- Location:
- 2-16 Siddeley Street, Melbourne, VIC
- Site area:
- Approx. 4,300 m² (approx. 1,300 tsubo)
- Net leasable area:
- Approx. 46,000 m² (approx. 13,900 tsubo)*
(office, store, business lounge)
- Scale:
- 21 floors above ground, 1 floor below ground
- Structure:
- Rerroconcrete structure
- Uses:
- Offices, store , and business lounge
- Architect:
- Fender Katsalidis Architects
- Construction:
- Mirvac Constructions (VIC) Pty Ltd
- Completion:
- Dec. 2025 (scheduled)
- * Including portions owned by co-owners
