This article is from the Australian Property Journal archive
GLOBAL energy manager Schneider Electric has pre-leased a new commercial office at Goodman Group’s Ferntree Business Park in Notting Hill Victoria.
The Schneider pre-lease will be the second major new commercial office development at the park, continuing its redevelopment from industrial to commercial use.
Owned by Goodman Australia Industrial Fund, the new development will comprise a total lettable area of approximately 7,871 sqm, which will incorporate 5,465 sqm of office space and a 400 sqm warehouse for Schneider, 1,839 sqm of speculative office space on the fourth floor, as well as a roof top deck and a café to service the entire Park.
Schneider has committed to an initial 10-year lease term plus options, the development has an estimated end value of $36 million.
“We are delighted to have been selected by Schneider to undertake this latest development at the Park. Our ability to attract quality customers such as Schneider is a testament to our own, develop and manage model and the strength of our long standing relationships,” Goodman’s Australia general manager Jason Little said.
Designed by architects Gray Puksand, engineering consultants Hyder and to be built by Qanstruct, the building will target a 5 star NABERS Energy and 5 star Green Star (Office v3) Design and As Built ratings, making it one of the most sustainable commercial office buildings in the Melbourne suburban commercial market.
The new development will incorporate sustainable features including high performance double glazing, recycled materials, extensive sun shading, rainwater harvesting, chilled beam air conditioning system, energy efficient lighting with daylight harvesting and the latest building management control systems.
Ferntree Business Park is located within the Notting Hill commercial precinct, approximately 20km from the Melbourne CBD.
The park is to be redeveloped by Goodman over the next five years to create a master planned business park with over 40,000 sqm of modern commercial office space.
Schneider Pacific and South East Asia real estate & facility management director Stephen Hyams said the new office will enable the company to bring its Melbourne staff together.
The new development expands Goodman’s relationship with Schneider, an existing customer in three countries, and currently occupying over 52,000 sqm of warehouse and office space within the Goodman portfolio.
Jones Lang LaSalle’s corporate solutions director Peter Walsh, who brokered the deal for Schneider, said the park was an attractive option.
Colliers International’s Melbourne East director in charge Rob Joyes said the commitment continues the strong momentum that the suburban commercial pre-lease market has been experiencing with an above trend increase in leasing activity since the start of this calendar year.
“With net absorption forecast to be in excess of 100,000 sqm per annum over the next two years, we expect to see strong pre-commitment activity continue for well located business parks,” Joyes concluded.
Australian Property Journal
