The newest addition to Geelong’s skyline revealed
The new headquarters for health insurer GMHBA has reached its latest milestone, with the sky signage being installed at the new $100 million.
As one of the final steps in the construction journey, the new building, developed by Quintessential Equity, is set for completion next month (July 2021). The building topped out in March this year.
60 Moorabool Street is on track to have staff start to move in throughout July with an official opening to take place in August.
“This is an exciting milestone for Geelong, GMHBA and the rest of our tenant community, with the new sign now gracing the city’s skyline. With construction of the building due to complete next month, the team has worked tirelessly to get to this point – and it’s great to see these final touches taking shape.” says Shane Quinn, Executive Chairman at Quintessential Equity.
“GMHBA has been an integral part of the Geelong community for 87 years. Our investment in this new head office represents a continuation of our commitment to our local members and to the future of the region. GMHBA is a passionate contributor to our vibrant local economy and we have ensured that the majority of our new head office spend has stayed in the region, while also engaging over 370 local workers on the new head office building site.” says David Greig, CEO of GMHBA.
- Featuring over 11,000 square metres of net lettable area, 60 Moorabool Street is 75 per cent pre-leased, with its anchor tenant and project development partner GMHBA signing on prior to construction commencing. Other tenants include Victory Corporate Serviced Offices and Morris Finance.
- There are three office leases available on levels one, six and eight, from 232 square metres to 1,115 square metres. There are retail spaces available from 116 square metres.
- Over half of the jobs created to deliver this project have come from within Geelong. Through the lifetime of construction it is anticipated to inject more than $50 million into the local economy.
- Kane Constructions is the project’s construction partner.
- The build has provided a significant boost to the Geelong region with over 250 jobs related to its construction, injecting more than $50 million into the local economy.
- The build has provided a significant boost to the Geelong region with over 60% of the new head office spend staying in the Geelong region. Construction partners, GMHBA, Quintessential Equity and Kane Constructions are all members of the GROW Local Sourcing alliance with over 370 local workers being engaged on the building site.
- The GMHBA signage is a good example of the commitment to local procurement with Insight Signs in South Geelong manufacturing the illuminated custom designed light box.
- GMHBA staff are looking forward to being together in one building after being split across multiple buildings for more than 15 years.
- The new office has been a valuable investment for GMHBA members, anticipated to deliver strong returns well above average investment market returns.