Quintessential wins $120 million WorkSafe building in Geelong
AUSTRALIAN FINANCIAL REVIEW
15 FEBRUARY 2016
Melbourne-based fund manager Quintessential Equity will develop the new $120 million headquarters for WorkSafe in Geelong, as the state government drives investment in Victoria’s second largest city.
Quintessential has snared the opportunity with its Malop Street site, ahead of rival proposals by private player Techne Development and another by top-tier developer Grocon
Construction on the new 14-level commercial office tower will get under way within months. The job will be done by construction firm Built.
With 15,000 square metres of A-grade office space, the tower at 1 Malop Street will be the tallest in the Geelong CBD.
Quintessential Equity Director, Shane Quinn, said the development would be an “office building of the future” that met all WorkSafe’s core business needs.
“It will be a legacy project which will form the centrepiece of the next phase of growth and development in Geelong,” Mr Quinn said.
“The 1 Malop Street development will set a new gold standard for regional office accommodation, providing a high quality, bespoke workspace.”
Quintessential Equity has a $250 million pipeline of work for Geelong over the next two years.
The fund manager’s portfolio includes assets in Sydney, Melbourne, Adelaide, Perth and Canberra. It has also developed other projects including a Parramatta commercial building which won a sustainability award.