Property developer Quintessential Equity has topped out the construction of the new headquarters for GMHBA, marking a significant milestone for the $100m building.
Situated in Geelong’s CBD at 60 Moorabool Street, the office is a first rate commercial facility in one of Australia’s fastest growing regional hubs. Set for completion by mid-2021, the development will cater for the growing talent and businesses relocating to Geelong.
75% of the building is preleased, with GMHBA, Victory Corporate Serviced Offices and Morris Finance signing agreements prior to the commencement of construction. The building has a total of 11,000 sqm of net lettable area across nine levels.
Overlooking Corio Bay, the topping out of the building’s ninth floor was marked with a ceremonial tree planting attended by local MP Christine Couzens, Deputy Lord Mayor of Geelong Trent Sullivan, and project partners Kane Construction and GMHBA.
Executive chairman at Quintessential Equity Shane Quinn says the milestone is a significant achievement given the challenges faced over the past 12 months.
“We are so proud to be celebrating this major milestone, which underscores our continued commitment to the growing business community in Geelong. The team has worked tirelessly to get to this point and we’re on track to provide our tenants the opportunity to work within this dynamic and sustainable office space within months,” he says.
“Located in a premium location with great access to transport and the foreshore, 60 Moorabool Street provides a canvas for businesses to design the workspace they want with 360-degree views of Corio Bay.”
$50 million is expected to be poured into the local economy by the time construction is complete. Over half of the jobs created to deliver this project have come from within Geelong, further boosting this sentiment.
“From the outset, we were committed to ensuring this project maximised social and economic outcomes for the region. We are well on track to exceed our local job creation target and deliver on our promise to support Geelong’s economy,” adds Quinn.
Quintessential’s construction partner, Kane Constructions have been involved throughout every step of the process. Sam Birdseye, the Project Director of 60 Moorabool Street, says the project has been beneficial for both parties.
“It has been an absolute pleasure working alongside Quintessential Equity and GMHBA who share our passion and commitment to Geelong. We are proud that we can play our part in helping the revitalisation of central Geelong, and providing major economic and social benefits to the region,” says Birdseye.
Claire Higgins, Chair of GMHBA, says the health insurer is looking forward to having all staff under the one roof in the company’s home town.
“GMHBA is thrilled with the way the building is progressing. It’s a really important investment for us to make in our home town particularly in light of the COVID pandemic that significantly reduced the number of office workers and foot traffic around the city. There’s no doubt that this building will bring some much needed vibrancy and positivity back to Geelong and the city centre.”
Including retail and commercial space, the mixed-use building will accommodate over 900 employees and offer an underground car park with vast end-of-trip facilities.
The Quintessential Equity-funded WorkSafe Victoria headquarters on Geelong’s Malop Street was recognised as the region’s healthiest building last month. To read more, click here.