Quintessential leases up Geelong tower
LARRY SCHLESINGER AND NICK LENAGHAN
AUSTRALIAN FINANCIAL REVIEW
Tuesday 11 September 2018
Quintessential full-up in Geelong
Quintessential Equity has fully leased its $120 million Worksafe building in Geelong after securing insurer Allianz and Victoria Police as tenants in the regional city’s tallest tower.
The 14-level building with 15,600 square metres of space is the headquarters for Worksafe Victoria, which has taken the majority of the building in a 15-year deal.
Alongside the state government tenant, Quintessential has secured Allianz Insurance Group over 304 sqm on a seven-year lease, with Victoria Police taking 891 square metres on level three for 10 years.
Also in the building is cafe operator 9grams, which has taken 117 square metres on the ground floor over five years and dentist Saeeda Anwar Associates, which took the final 141 sqm space over five years.
Office deals in the building have been negotiated on net rents of about $480 per square metre. The leasing deals were negotiated by Edward Knowles and Colliers International in conjunction with Pat Burke of MP Burke Commercial.
The building was completed last December with construction debt finance from the Clean Energy Finance Corporation.