Mirvac secures Urbis at Olderfleet taking the building to 88 per cent leased

07/03/2019

Mirvac Group (Mirvac) [ASX: MGR] has today announced its flagship Melbourne office tower, Olderfleet, at 477 Collins Street is 88 per cent leased, with the signing of leading property consultants, Urbis, signaling continued strong demand for space in the building.

Urbis has leased 4,100 sqm across levels 10, 11 and parts of 12 in the premium-grade commercial building joining other high calibre tenants Norton Rose Fulbright, Lander and Rogers and anchor tenant Deloitte.

Mirvac’s Development Director, Frank Lonetti said: “We’ve experienced strong momentum in interest for office space at Olderfleet, allowing us to lease 88 per cent of the building earlier than expected and well ahead of practical completion in 2020. This high level of demand is a testament to Mirvac’s vision of creating a truly notable working environment and leading smart building at Olderfleet.

“We are pleased to welcome Urbis, a partner of Mirvac on many of our projects across the country, to Olderfleet. They will contribute to the diversity of leasing success at the building, including property, technology, financial services, childcare and legal companies.”

Urbis is relocating their Melbourne head office from the Paris end at 120 Collins Street to Olderfleet in the mid-city block between William and King Streets.  Urbis had recently undertaken a national workplace strategy review with WMK Architects, with a major focus on its people, brand and culture as the business continues to grow and evolve. Tim Farley, a National Director of Colliers International’s Tenant Advisory team, represented Urbis in their comprehensive market search and evaluation of future premises opportunities, culminating in Mirvac’s Olderfleet development being identified as the ideal accommodation solution for the business. This move takes advantage of the latest technology and range of amenities available at the building including hotel-style end-of-trip facilities, a childcare centre and wellness centre. In particular, Urbis identified the efficient floorplates and potential for outdoor mixed mode space as critical to their decision-making process, enabling the business to embrace the future.

Urbis CEO, Ben Pollack has explained that the decision to move to Olderfleet aligns with our workplace strategy that will deliver an innovative people and client centric environment. “Our workplaces of the future will facilitate greater levels of collaboration, innovation and flexibility for our people and clients and we are very excited by the new workplace strategy that we have developed in partnership with WMK which will be progressively rolled out through all of our offices”

The company was drawn to the cutting-edge design of the large, highly efficient workplace floors and the central location along an iconic Melbourne street that is experiencing a significant revitalisation.

“Collins Street in Melbourne is undergoing a major transformation with a number of commercial developments revitalising the highly sought-after location. Olderfleet will be a key feature of the area, providing the perfect balance between modern architecture and functionality, with the beauty and history of the restored heritage façade,” added Frank.

Olderfleet is on schedule to be completed by 2020, with construction well progressed. The structure at Level 26 and the façade at Level 20 is near completion.

Olderfleet is committed to a 5 Star Green Star rating, a 5 Star NABERS energy rating and a Platinum WELL Certification.