Moonee Ponds office landmark set for rejuvenation: The imposing seven-level tiered office building that dominates the active Moonee Ponds skyline is in for an overhaul, which will include a $20 million refurbishment and the leasing of 6,300 sqm of office space across its top three levels.
Already awarded a coveted 5 Star NABERS Rating, the substantial renovation works at 22 Gladstone Street will create one of Melbourne’s premier metropolitan office buildings, providing tenants with highly-specified workspace usually only found in new CBD developments.
Global designer Incorp has created an exemplary renovation scheme to create a green office environment with integrated technology to provide maximum sustainability and flexibility for future occupiers. A 5 Star Greenstar Rating is targeted through the energy-efficient design and upgraded services.
The 11-month works program will commence in March, and will involve comprehensive upgrades of all services, a new ground floor café, revitalised entrance lobby and new end- of-trip facilities.
Fitzroys, in conjunction with Knight Frank, will manage the leasing campaign. Space available ranges from 1,500 sqm to 6,300 sqm over levels four, five and six, each of which boast large terraces and expansive views towards the CBD.
Interest is expected from a range of blue-chip tenants focused on providing the best workplaces for staff, the highly-convenient location between the CBD and Melbourne Airport and the competitive rental. Potential occupiers include government departments, public sector bodies and corporate headquarters.
“Vacancies in Melbourne’s CBD are down to a decade-low of 3.2% and the city’s rental growth is expected to be among the highest in the world through 2019, and tenants are looking beyond the CBD in growing numbers,” the leasing agents said.
“Moonee Ponds is currently undergoing a residential and commercial development boom that is transforming the north-western suburb into an inner-city hub, and is well-placed to capitalise on that growing demand.”
There are more than 1,500 apartments within the Moonee Ponds Activity Centre in various stages of planning and development, which include the Mason Square development on the former Moonee Ponds market site of 1.34 hectares, while the future $2 billion overhaul of the nearby Moonee Valley Racecourse will include multiple residential and commercial buildings, adding a further 2,000 dwellings.
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