Final approval has been granted to fund Cbus Property’s AU$600 million (US$460 million) City West Police Centre complex. The 65,000-square-meter tower will become the state’s first purpose-built headquarters in more than half a century, according to the Australian Financial Review (AFR).
“The way our authorities fight crime is changing, and we’re giving them the modern tools and resources they need,” Planning Minister Richard Wynne said. “This project ticks all the boxes. It’s in keeping with our planning controls and it’s a big benefit to the state of Victoria.”
The project’s plot ratio of almost 22:1 will exceed the city’s limit of 18:1, which was put in place to limit the density of development on city sites; however, the project’s approval meant the authorities behind the decision were convinced that the new headquarters would be a positive addition to the city. This exception to the project’s ratios came as a result of new planning rules that allow developments that, despite exceeding guidelines, will bring exceptional public benefit to its location.
The 40-story tower will rise next door to a smaller police station that the developer has already launched on Spencer Street, at the western end of Melbourne’s CBD. The new center will be home to 2,500 personnel and will be occupied by state and federal police.
The AFR said the developer has already had success on the former Australia Post site, selling down a AU$115 million (US$88 million) half stake in the City West police station already developed there to investment giant Invesco.
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