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New Life into Heritage: The Younghusband Woolstores Revitalization Project in Melbourne

The Younghusband Woolstores Revitalization Project in Melbourne, led by Ivanhoé Cambridge, revitalizes the 122-year-old heritage site into a vibrant mixed-use development. The project preserves the red brick façade while transforming the interiors into modern office spaces, retail areas, and a public laneway. With sustainability at the forefront, the development is targeting high sustainability certifications, including 6-Star Green Star, and has significantly reduced carbon emissions through adaptive reuse. The project aims to serve as a model for future redevelopments, blending heritage preservation with environmental responsibility.

Nicholas Lee

Nicholas Lee

Senior Associate, Investment & Asset Management, CDPQ/Ivanhoé Cambridge

Nicholas Lee, Senior Associate, Investments & Asset Mananagement, CDPQ/Ivanhoé Cambridge. Nicholas has approximately nine years of working experience in investment and asset management across APAC, covering both developed and emerging markets across various asset classes. He is currently with CDPQ real estate team based in Singapore, covering new investments, and managing existing partnerships in the region. Before joining CDPQ, he was with CBRE Investment Management where he was part of the acquisition and asset management team, working with global portfolio managers and clients to execute on real estate strategies in APAC, particularly in Japan and Korea. He also worked in Perennial real estate covering investments in emerging markets. Nicholas holds a bachelor’s degree of science (Honours), real estate (finance specialization) from the National university of Singapore
Xuchao Wu

Xuchao Wu

Senior Advisor, Sustainability, CDPQ/Ivanhoé Cambridge

Xuchao Wu is Senior Advisor, Sustainability at CDPQ, focusing on Asia-Pacific real estate portfolio. Xuchao has played a pivotal role in leading Ivanhoé Cambridge’s sustainability initiatives across the Asia Pacific region. His expertise lies in sustainability, social impact, and the intersection of financial performance with climate related risks. With a background in sustainable building design and management, Xuchao actively manages climate risks and systematically integrates sustainability criteria throughout the investment cycle, creating value through sustainability. Before joining Ivanhoé Cambridge, Xuchao spent a decade at JLL, overseeing its sustainability advisory business in Greater China and South Asia. His career also includes roles at design consultancies and higher education institutions such as Arup and the National University of Singapore. Xuchao holds a master’s degree in building science from the National University of Singapore and was a UK Foreign and Commonwealth Office-funded Chevening scholar from 2003 to 2004.