Energy Australia signs on for Lendlease's Two Melbourne Quarter

As indicated in Urban.com.au's article on commercial development, site works have commenced on the Two Melbourne Quarter site, which forms part of the greater Melbourne Quarter development being delivered by Lendlease within the Docklands precinct.

This has coincided with Lendlease securing EnergyAustralia as the anchor tenant for Two Melbourne Quarter and signing a development agreement to commence construction in earnest. EnergyAustralia has agreed to lease approximately 22,000 sqm of the 50,000 sqm tower, occupying 10-and-a-half levels of the building’s high-rise floors, leaving approximately 12 contiguous floors remaining.

The Woods Bagot-designed tower features flexible 2,000 sqm floor plates and is expected to house up to 4,500 new workers.

First State Super and Lendlease Investment Management's Australian Prime Property Fund (APPF) Commercial will each hold a 50 per cent interest in the 25-storey tower, which will target leading sustainability outcomes and ratings in energy and water consumption, waste management, and indoor environment quality, including a 6-Star Green Star Design & As Built rating and a 5.5 Star NABERS Energy rating.

APPF Commercial is the first Australian fund to be awarded a 6-Star Green Star portfolio performance rating and was also ranked number one in the 2017 Global Real Estate Sustainability Benchmark (GRESB) across all sectors globally. Two Melbourne Quarter is the second of three commercial towers planned for the precinct.

The first tower, One Melbourne Quarter is 90 per cent leased and on schedule for completion later this year. Tenants within the 12-storey building include ARUP, AMP and Lendlease.

WHAT THEY SAY

Companies want to attract and retain the best talent and a key way to do this is to offer a fantastic place to work in a vibrant precinct. We’re delighted to welcome EnergyAustralia as a key tenant.

APPF Commercial’s investment in Two Melbourne Quarter follows its recent over-subscribed equity raising. It positions the Fund to continue executing its strategy to invest in efficient, highly-sustainable, next generation office buildings in precincts with superior amenity and connectivity.

- Scott Mosely, Fund Manager, APPF Commercial

The Melbourne Quarter precinct is one of the largest urban regeneration developments in central Melbourne and will not only benefit the city but also members of First State Super.

As one of Australia’s largest superannuation funds we look to invest in the communities in which our members live, work and retire. We have around 200,000 members living in metropolitan and regional Victoria and are committed to ensuring long-term sustainable returns for their retirement savings. We are confident that Two Melbourne Quarter will contribute to this.

- Michael Dwyer, CEO, First State Super