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Argo bets on boutique tower in Melbourne legal precinct

The design will integrate the existing heritage of the Great Western Hotel, he said.

The boutique tower, with an end value of $250 million, will have 24,000 square metres of office space, multiple outdoor terraces and a pocket park at ground level.

It gained planning approval from Melbourne Council last week.

Set in the city’s legal precinct, it will sit on an amalgamated block stretching from 204 to 230 King Street with access to Little Bourke Street and Brown Alley to the rear.

The tower will straddle three sites next to the Great Western, one of which at one stage had a permit in place for a 29-level apartment building.

Argo development director Lincoln Jones said construction was expected to start in April and the finished building would rejuvenate the alleyway and ground floor area.

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The developer will be in the market for tenants using Colliers International’s Edward Knowles and Zak Seccul to handle the leasing, but it will push ahead and speculatively build the office nonetheless.

“It lends itself best to that,” Mr Jones said.

The building’s lower 11 levels will have 1000 sq m floor plates, while the levels above feature floor plates around 700 sq m.

Mr Knowles said the tower was targeting progressive and technology focused tenants keen on utilising surrounding restaurants, bars and other amenity.

Further along on the corner of King and Lonsdale streets, Andy Zhang’s V-Leader group recently gained approval for a 24,836 sq m office and 288-room hotel.

Argo is completing a hotel development at 230 Toorak Road in South Yarra which it sold two years ago to the Ovolo hotel group.

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