The Clean Energy Finance Corporation (CEFC) has agreed to finance the 1 Malop Street commercial project being designed by Peckvonhartel and being developed in Geelong by property fund manager, Quintessential Equity.
The $68 million funding will enable Quintessential Equity to implement additional energy efficiency initiatives at its new $120 million development, which will become the first Victorian multi-storey commercial office building outside of the Melbourne CBD to achieve a 5.5 star National Australian Built Environment Rating System (NABERS) base building energy rating.
The 1 Malop Street development is the largest commercial office project being financed by the CEFC, which invests in renewable energy, energy efficiency and low emissions technologies.
Located at one of Geelong’s most iconic sites, the 14-level building will be home to Work Safe Victoria’s headquarters from mid-2018. Peckvonhartel's design merges the original heritage Dalgety & Co. building into a prestigious commercial address offering approximately 15,500 square metres of CBD PCA A-Grade office space.
Observing that there was a growing demand for affordable high-quality green office space in Geelong, Quintessential Equity Head of Development, Guy French-Wright commented that he's committed to developing the most sustainable and energy efficient building for Work Safe and the City of Greater Geelong. Noting that only nine buildings in Victoria have achieved a 5.5 star NABERS base building energy rating to date, he added that CEFC’s funding support will help them improve the building’s energy efficiency from a 5 star to a 5.5 star NABERS rating.
In terms of energy savings, this translates into an additional 25 per cent reduction in the building’s energy consumption, providing additional cost savings for all tenants.
Offering 14 levels of premium office space, 1 Malop Street will include a basement, secure onsite parking, a ground floor café, on-site concierge, rooftop exercise areas, and club style end-of-trip facilities with 100+ bike racks.
Image: Artist’s impression of the 1 Malop Street development. On completion, the building will offer stunning views across Corio Bay, Johnstone Park, the Arts Precinct and Geelong CBD.