Architecture and design firms Woods Bagot, Seventh Wave, UN Studio and Jouin Manku are designing an AUS$800m (US$612m, €538m, £472.5m) mixed-use tower complex in Melbourne.

Australian development firm QICGRE is leading the 80 Collins scheme, and has pledged to create “a once-in-a-generation transformation that cements the position of Melbourne’s famed Collins Street as one of the world’s premier boulevards for luxury retail and commerce.”

Scheduled for completion in 2020, the development comprises a boutique hotel, a new 43,000sq m (462,800sq ft) office tower and a significant refurbishment of an adjacent office and commercial tower on the site. Stores for international luxury, beauty and lifestyle brands will feature alongside new food and beverage venues.

“It’s been nearly two decades since Melbourne CBD’s east end has witnessed a transformation of this significance,” said Steve Leigh, managing director of QICRE’s global real estate division.

“It’s a premier mixed-use development that heralds a new chapter in the story of its prestigious location and seamlessly connects with the array of world-renowned experiences that surround it both day and night.

“80 Collins will be a destination that honours Melbourne’s thriving culture and commerce and is situated at the centre of a globally recognised precinct with a distinct local identity.”

Stuart Miller, director of Investment Management at QICGRE, said the company was seeking to partner with “world-renowned retail brands who will share space with innovative dining and leisure concepts from Australia and the world exuding a distinctly Melbourne appeal.”

"80 Collins reflects the long-term view we take to creating enduring mixed-use developments that harmonise with their environments and foster meaningful human connections,” he added.

The Victorian Government has granted planning approval and QICGRE is working with contractor Multiplex to deliver the project.

The area around Collins Street has become a hotbed for major architectural projects. Woods Bagot are also working on the AUS$300m mixed-use Collins Arch luxury development, which will include a W Hotel, while Zaha Hadid Architects and Jean Nouvel have also designed large leisure-focused towers in the vicinity.

Meanwhile, developer Lendlease recently unveiled plans to build a billion-dollar 2.5 hectare city precinct near Collins Street, with a floating sky park at its heart.