Cbus Property a step closer to Victoria Police development

Superannuation fund-backed Cbus Property is progressing plans to develop a new headquarters for Victoria Police on a site in Melbourne’s Spencer St it owns with Australia Post.

The Victorian government says the proposal by Australia Post and Cbus Property has moved to stage three of the government’s five-stage process for assessing planning proposals.

The plans will now be publicly available.

“The Andrews Labor government is committed to a robust and transparent process when it comes to market-led proposals, such as this one for a secure police precinct at the west end of the CBD,” state treasurer Tim Pallas says.

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“While the concept of a consolidated police precinct has merit, we will ensure that this project offers value for money to Victorians before any deal is done.”

The planned project, at 311 Spencer St, would be close to the $240 million City West Police Complex that Cbus also developed.

We will ensure that this project offers value for money to Victorians before any deal is done

If the government passes the plans, Victoria Police would move from the World Trade Centre, where its lease expires in 2020.

Cbus Property is pursuing a host of projects around Australia as it seeks to bolster its development pipeline.

The group plans a major mixed-use project at 447 Collins Street, while it is bidding for the rights to develop a 200m apartment tower in the heart of the Melbourne CBD being tendered by the City of Melbourne council.

This article originally appeared on www.theaustralian.com.au/property.