VICTORY FOR NEW BUILDING
11 October 2019
THE high-quality reconstruction of GMHBA’s headquarters has already attracted a national provider of premium serviced offices to Geelong.
Victory Offices, chaired by former premier Steve Bracks, and Geelong company Morris Finance have been unveiled as the first tenants to join GMHBA at the $85 million, eight-storey office that is being prepared for construction at 60 Moorabool St.
Listed on the ASX in July, Victory Offices is a $100 million company planning to have flexible office solutions in 27 locations by June 30 next year.
Almost two years away from its scheduled completion, 60 Moorabool St will accommodate up to 900 employees, depending on configuration needs, with GMHBA taking three levels on a 15-year lease to accommodate its 300 staff.
The remaining 3000sqm available for lease includes the uppermost levels with the building also offering ground level retail space.
The building is being developed by Melbourne based diversified commercial property group Quintessential Equity, which is close to announcing a builder for the project expected to generate about 600 jobs during construction.
Quintessential Equity chairman Shane Quinn told a lease launch at The Pier on Wednesday that by offering the highest standards of design, the building would help Geelong attract and retain the best talent.
“When you look at a building like this, so well located and connected to transport and road infrastructure, there’s no reason why we can’t attract businesses down to Geelong,” Mr Quinn said.
Morris Finance managing director Nathan Murray said consideration of staff retention and attraction was a factor in the growing national company deciding to relocate from its Ryrie St base.
Quintessential Equity, which delivered the Work-Safe building in Malop St, is in the midst of capital-raising for Master Fund No.2, targeting $150 million to take advantage of purchasing opportunities around the country.