WorkSafe Victoria headquarters recognised as Geelong’s healthiest office building
Media Relesae | February 2021
Quintessential Equity, the developer behind WorkSafe Victoria’s headquarters, has been awarded a 5.5 Star NABERS Base Building Energy rating for its A-grade asset at 1 Malop Street in Geelong – making the building a regional market leader in sustainable design.
The 14-storey building, which was completed in December 2017, now boasts ‘Excellent’ NABERS ratings across three categories which include a 5.5 Star Base Building Energy rating, a 5.5 Star Tenancy Energy rating and a 5 Star Base Building Water rating.
NABERS is a nationally recognised sustainability measure for the built environment. Ratings are qualified by the energy efficiency, water usage, waste management and indoor environment quality of a building or tenancy and its impact on the environment.
Already a market leader in regard to advancing human health and wellness in buildings, the $150 million commercial office was the first in Victoria to achieve a Platinum Core & Shell WELL Building Standard rating at its time of development, and only the second project in the world to achieve these WELL credentials.
The property has also achieved a 6 Star Green Star rating for office design, the highest rating from the Green Building Council of Australia.
Quintessential Equity chief executive officer, Russell Bullen, said the project is at the global forefront of sustainability as it continues to raise the bar for occupant wellbeing and environmental standards.
“We always strive to develop and regenerate buildings to achieve exceptional environmental, engineering and technical standards. As proud advocates for healthy and sustainable buildings, we are thrilled to have achieved our NABERS rating goal for 1 Malop Street and Geelong’s healthiest office building,” says Bullen.
“Since completion, we have worked closely with WorkSafe Victoria to ensure the building’s environmental impact is continually improving and the health and wellbeing of staff remains paramount. We have delivered on our vision for a world-class sustainable office building in Geelong’s centre.”
1 Malop Street was one of the first property projects to secure whole of building finance through the Clean Energy Finance Corporation (CEFC), on behalf of the Australian Government, to focus on its energy efficiency performance.
CEFC director and joint head of property, Michael Di Russo, said the CEFC was proud to work alongside Quintessential Equity to develop this exemplar building.
“We came on board to stretch the energy efficiency design of 1 Malop Street and to demonstrate how improved sustainability can benefit commercial assets. We are excited to see the development set new standards in commercial office sustainability and congratulate Quintessential Equity on achieving these NABERS ratings,” says Di Russo.
Bullen adds that sustainability continues to be a core focus for Quintessential Equity, a private equity property business that operates throughout Australia, across its existing asset and development portfolio.
“As the country continues to navigate a global pandemic and rebuild after a devastating bushfire season last year, there has never been a more important time to develop and regenerate buildings with the health and wellbeing of the tenants at its core,” says Bullen.
“In the wake of COVID-19 we’re seeing regional cities continuing to grow, and with its existing amenity, infrastructure, affordability and quality of life, Geelong is well positioned to be at the forefront of sustainable and healthy office design, which will attract top talent and businesses. We are proud to set an example for regional Australia.”
With other projects underway in the region, Quintessential Equity has commenced construction on the new $220 million Geelong Civic Precinct in partnership with the City of Greater Geelong. The developer is also building the new headquarters for health insurer GMHBA at 60 Moorabool Street, which is due for completion mid-2021.
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About Quintessential Equity
Quintessential Equity (QE) is a private equity business specialising in property regeneration and development. Dynamic and capable, Quintessential Equity delivers risk mitigated returns and exceptional outcomes for investors, tenants and Ecosystem partners.
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