Vicinity Centres is stepping up efforts to diversify its shopping mall portfolio, winning approval to build a 14,000 square metre office tower at its Bayside centre in Melbourne’s south-east.
The office tower at the Frankston mall, to be called 12 Balmoral Walk, will rise eight storeys, with large campus-style floor plates and external terraces. Its end value will hit at least $120 million.
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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
