Inside Melbourne’s $25m office glow-up that’s turning heads

Mirvac has unveiled a $25 million makeover of one of its iconic Melbourne office buildings, breathing new life into one of the city’s most recognisable towers.

The ASX-listed property group has transformed its 55 Collins Street office building in a move that’s drawing in blue-chip tenants like Salesforce and co-working operator The Commons.

Located at the sought-after ‘Paris end’ of Collins Street, the landmark tower now boasts a reimagined lobby, a contemporary facade, premium wellness facilities, and smart building upgrades.

The multi-million dollar glow-up is part of an effort to future-proof the property, which sits at the heart of the $6 billion Mirvac Wholesale Office Fund (MWOF).

The makeover plans have attracted tenants such as Salesforce and The Commons. Picture: supplied

“High quality, tech-enabled office spaces with excellent amenity for tenants are in high demand, and with the latest office research indicating Melbourne’s CBD office vacancy rate has stabilised, we are repositioning assets to meet this demand,” MWOF fund manager Kit Georgeos said.

“This investment in 55 Collins Street is a great example of how we are modernising our existing assets to ensure they can cater to our customers’ changing requirements, including the growing desire for flexible space.

“Collins Place is an iconic precinct and MWOF’s largest asset, and these upgrades present a significant opportunity to attract tenants and talent in Melbourne.”

The overhaul has already sparked a leasing surge, with more than 21,000 square metres (sqm) taken up across the Collins Place precinct since January 2024.

Notably, Salesforce has expanded into 55 Collins, citing a desire to foster employee connection and support innovation.

The refurbishment works included a reimagined lobby, a contemporary facade, premium wellness facilities, and more. Picture: supplied

“Our Melbourne employees are looking forward to collaborating in the new space,” said Frank Fillmann, EVP and general manager of Salesforce Australia and New Zealand.

The building’s reinvention also includes a bold partnership with The Commons, a certified B Corp co-working firm that occupies six levels and more than 5,000sqm.

The flexible workspace provider will add a cocktail bar and café, infusing a hospitality vibe into the workweek.

“We are excited to have the opportunity to join the Collins Place community and look forward to welcoming our members and providing flexible solutions for tenants in this flagship location,” said Tom Ye, co-founding director at The Commons.

The facelift is not just aesthetic. Mirvac has begun electrification upgrades at the site, as part of its broader ESG agenda.

The upgrades are part of an effort to future-proof the property. Picture: supplied

By collaborating with circular economy firm Circonomy, the developer diverted more than 3,000 pieces of furniture and equipment from landfill, which equated to a 180-tonne carbon emissions reduction.

Inside the building, smart lockers, people counters, automated LED lighting and improved wi-fi aim to boost both operational efficiency and user experience.

Design continuity was a focus. Mirvac extended its collaboration with architects Grimshaw and engineers Norman Disney & Young who previously worked on the adjoining 35 Collins Street to achieve a consistent design that respected the original 20th-century architecture while delivering modern transparency and openness.

“Collins Place is an excellent example of how high-quality designed buildings of the last century can be revitalised, respecting the original building’s proportion, finishes and materials to achieve a thoroughly contemporary outcome – exceeding tenant and user expectations,” Ms Georgeos said.

As CBD office vacancy rates stabilise and demand leans toward flexible, high-amenity workplaces, Mirvac is betting that future-proofing heritage towers like 55 Collins will give them an edge in Australia’s post-pandemic office recovery.

The refurbished building is now fully operational, with further wellness initiatives due to launch in July.