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News12 March 2020
Mirvac Named on Fast Company’s Annual List of The World’s Most Innovative Companies for 2020
Mirvac has received global recognition for its achievements in innovation, coming in at #7 on Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2020, in the Urban Development and Real Estate category. Mirvac is the only Australian property company on the list.
The list honours the businesses making the most profound impact on both industry and culture, showcasing a variety of ways to thrive in today’s fast-changing world. This year’s MIC list features 434 businesses from 39 countries.
Mirvac’s CEO & Managing Director, Susan Lloyd-Hurwitz said the inclusion showed the Group’s deliberate on-going journey to drive cultural change and embrace innovation is moving Mirvac in a positive direction.
“We are delighted at the global recognition that our innovation efforts have received. We still have a long way to go, but to be in the top 10 of all global Urban Development and Real Estate organisations is very pleasing. And then, to be the only traditional bricks and mortar developer amongst a list of property start-ups, is doubly satisfying. It demonstrates that companies can reinvent and innovate for a better future.”
“At Mirvac, our purpose to reimagine urban life inspires us to tackle some of the many challenges facing our cities, big and small. With the constant disruption and rapid pace of change in today’s world, we believe innovation enables us to deliver on our purpose, by finding solutions that help us stay relevant to our customers and leave a positive legacy in our urban environment.”
Mirvac was judged to be the world’s seventh most innovative property company based on three projects which delivered innovative solutions for its commercial, residential and retail customers:
1. Cultivate is an urban basement farm which uses agritech to grow produce in under-utilised spaces in our cities, such as car parks;
2. Solar Upgrade is a partnership with Evergen whereby individual apartment owners are able to access solar energy; and
3. The Third Space saw a dedicated co-working space brought to life in a shopping centre, offering all the trappings of a modern office in easy reach of shops and services.
“Over the last few years we have been working towards a culture of innovation where everybody believes it is part of their job to challenge the status quo and reimagine what we do. This transition has been championed by our innovation team Hatch, who have upskilled our people and helped to establish a fail-safe environment where we are not afraid to experiment. We are changing the way we problem solve as a business,” added Ms Lloyd-Hurwitz.
Fast Company’s editors and writers sought out the most ground-breaking businesses on the planet and across myriad industries. They also judged nominations received through their application process.
The World’s Most Innovative Companies is Fast Company’s signature franchise and one of its most highly anticipated editorial efforts of the year. It provides both a snapshot and a road map for the future of innovation across the most dynamic sectors of the economy.
“At a time of increasing global volatility, this year’s list showcases the resilience and optimism of businesses across the world. These companies are applying creativity to solve challenges within their industries and far beyond,” said Fast Company senior editor Amy Farley, who oversaw the issue with deputy editor David Lidsky.
Fast Company’s Most Innovative Companies issue (March/April 2020) is now available online at fastcompany.com/most-innovative-companies/2020, as well as in app form via iTunes and on newsstands beginning March 17, 2020. The Urban Development and Real Estate category list can be viewed here. The hashtag is #FCMostInnovative.
Kylie Kwong announced as ambassador for South Eveleigh
Mirvac and their precinct partners AMP Capital, Sunsuper and Centuria Property Funds today announced respected chef, restaurateur, television presenter and author Kylie Kwong as an ambassador for South Eveleigh, a state-of-the-art work and lifestyle destination. South Eveleigh will also be the home of her next venue.
South Eveleigh, formerly known as Australian Technology Park, has been undergoing transformation since 2016, evolving the precinct into a significant destination for work, diverse retail and the local community. The retail and public spaces will be carefully curated to meet the needs of today’s modern, flexible workforce, including a retail mix of cafes, dining, wellness and pop-up events. The revitalised technology and innovation hub opened the first two buildings in April 2019, and once completed in 2021 will be home to 18,000 workers.
As an ambassador for South Eveleigh, Ms Kwong will collaborate with Mirvac and their precinct partners on a diverse placemaking program to bring South Eveleigh to life by encouraging workers, visitors and the wider community to engage with the precinct through food, culture and community activation. South Eveleigh has always been and will continue to be a place of gathering, and Ms Kwong will use her ambassadorship to meaningfully engage with South Eveleigh’s diverse and dynamic range of communities who make it their home and workplace. Ms Kwong will draw inspiration from the diversity of the area for her program of activations.
Ms Kwong said: “I’m drawn to the rich history, heritage and culture of South Eveleigh. It has been a place that has broadened my mind, and opened new worlds to me across innovation, technology and art. I’ve worked and collaborated in Redfern for many years through my work with Carriageworks, so landing in South Eveleigh now feels like such a natural next step. I can’t wait to get to the heart of South Eveleigh and help welcome the community in. I want to both understand and tell the stories of the diverse, multicultural community groups of South Eveleigh.”
Susan MacDonald, Head of Retail at Mirvac said: "We’re extremely excited to announce the partnership and collaboration with ambassador Kylie Kwong for South Eveleigh. Kylie shares our vision for a precinct that will enrich community and create a legacy for Sydney. Our vision for South Eveleigh is not only to create a world-class technology and innovation hub to work and play but also to build a food precinct that has people and community at its heart.”
Campbell Hanan, Head of Office & Industrial at Mirvac added: “Our vision for South Eveleigh is to create a destination that sparks creativity, collaboration and exchange, through seamlessly blending workspace with public spaces and bringing to life an array of unique experiences. The partnership with Kylie and the shared vision to create a cultural destination for the community couldn’t have been achieved without the depth of expertise available within Mirvac’s diversified structure and the commitment to create a truly vibrant precinct that has drawn a range of exceptional partners, such as Kylie.”
Ms Kwong’s new venue will open at South Eveleigh in late 2020. The new venue will be a casual, small, daytime-led venue where she will continue her passion for weaving indigenous produce into her Cantonese food. Ms Kwong hopes her new venue will be a representation of the heart and soul of South Eveleigh. Through her venue and her activities in South Eveleigh, she will explore the notion of true nourishment, beyond what is on the table.
“It makes sense to open in Redfern, and work with Yerrabingin’s amazing rooftop farm, which will only be 200m from my new venue. I’m so privileged to have the opportunity to collaborate with Yerrabingin and will draw from their knowledge and experience for both the venue and the program of activations I am working on,” Ms Kwong concluded.
South Eveleigh has a long and continuing connection with the indigenous community. It was the birthplace of Australia’s national rail network in the 19th century, as the Eveleigh Railway Workshops. As well as having significant historical relevance for industrial Australia, the site is one with important Indigenous legacy. Mirvac is working with local indigenous community groups to ensure this legacy is represented on site.
South Eveleigh will become a thriving precinct for the community where people will connect culturally, socially and physically. The precinct has generous public and shared spaces, community facilities within Yerrabingin House, public parks and exciting dining and retail.
The calendar of activations will be announced in early 2020.
Mirvac celebrates Topping Out at Olderfleet, 477 Collins Street, Melbourne
Mirvac Group (Mirvac) [ASX: MGR] and co-owner Suntec Real Estate Investment Trust (Suntec REIT) have today announced the topping out and completion of the main structural works at Olderfleet, Mirvac’s premium office building at 477 Collins Street, Melbourne.
The Grimshaw-designed, 38-level building consists of 58,000sqm premium-grade office and retail space, and has topped out on time, ahead of practical completion expected in mid-2020.
Mirvac’s General Manager, Development, Simon Healy, said, “This milestone marks another achievement for Olderfleet, which has seen strong interest from our tenants with a range of high calibre brands pre-committed, bringing the tower to 94% leased.”
“Mirvac’s vision to create one of Australia’s leading smart buildings, rising out of the heritage façade at Olderfleet, has struck a chord with the Melbourne market. Set to become an exemplar of modern working environments, the building integrates leading technology, sustainability and amenities that will include a wellness offering and childcare centre.”
The remaining lettable space at the building includes the entire Skyrise floor on level 34, which is made up of 1,700sqm of light-filled office space with spectacular city views. Incoming businesses will join a first-class line up of brands already committed, including Norton Rose Fulbright, Lander & Rogers, Urbis and anchor tenant Deloitte.
“Olderfleet presents a rare opportunity for premium office space in the tightening Melbourne rental market. Since Mirvac’s construction commencement, there has been a surge of interest in the midtown area of the CBD, with the precinct surrounding Olderfleet coming to life with restaurants, bars, shopping, and health and wellbeing facilities for workers and the community.
“Mirvac has a pipeline of projects in Melbourne including 383 La Trobe Street. This future, next generation office tower provides yet another opportunity for Mirvac to set new benchmarks in workplace design and contribute to the dynamic and evolving urban landscape within the Melbourne CBD,” Mr Healy said.
Mirvac has already pre-committed two of the five retail spaces at the Olderfleet building and has had strong enquiries for the remaining spaces, including a foyer café, two-level tenancy at the heritage entrance and a laneway offering on Flinders Lane. The interest from signature Melbourne food and beverage providers reflects the calibre of the tenants and the strong demand for the precinct.
Deloitte’s Managing Partner, Victoria, Paul Rehder said, “We’re really excited to reach this key milestone for our new home at 477 Collins Street– a workplace signalling Deloitte’s position as the undisputed leader in professional services and a magnet for what we can offer clients and employees, both professionally and personally.
“The future of work is moving towards human-centred, technologically driven workplaces – trends that reflect the convergence of work and life to enhance employee wellbeing. The building is purposefully designed to encourage co-creation and innovation, and it will set a new standard for employee experience as the way our people work becomes more automated, agile and collaborative.”
Olderfleet tenants have committed to changing ways of work, using the leading technology and infrastructure in the building to deliver enhanced operations and leading workplace conditions, supporting the significant upfront investment by Mirvac in these areas.
Lander & Rogers’ Chief Executive Partner, Genevieve Collins, said, “Innovation and technology are transforming the legal profession and this provides an exciting opportunity for firms that are prepared to seize it. This involves more than simply investing in IT infrastructure: we need to evolve how we work – with our clients, each other, and within our broader community."
"Internally, our people tell us they want an environment that accommodates complete mobility. They want areas for digital and face-to-face collaboration as well as spaces conducive to individual focus. An agile, connected workplace is at the very core of Lander & Rogers' long-term strategy and our move to 477 Collins will help us fully realise that."
Future occupants at Olderfleet will benefit from luxurious hotel-style end-of-trip facilities with bike parking, lockers, a premium towel service, and 410 car parking spaces with direct access to the childcare centre.
Olderfleet is committed to a 5 Star Green Star rating, a 5 Star NABERS energy rating and a Platinum WELL Certification.
Note: Mirvac acquired 383 La Trobe Street in 2018 and intends to redevelop the site into a new office tower spanning over 40,000 square metres.
First buildings open at Sydney's revitalised technology precinct, South Eveleigh
Today Mirvac Group (Mirvac) and its consortium partners, AMP Capital, Sunsuper and Centuria Property Funds, celebrate the official opening of the first two buildings completed at Sydney’s revitalised technology and innovation hub, South Eveleigh.
The precinct will be home to Commonwealth Bank of Australia’s 10,000 workers who have begun moving into their new workplace this week with the opening of the first building, Axle. The second complete building, Yerrabingin House, has a community centre, gym, childcare and the Australian-first Indigenous rooftop farm.
The opening of the buildings is a significant milestone in the development of the South Eveleigh precinct, which is on track to be complete by 2020 and will be home to 18,000 workers.
The launch event was attended by Mirvac’s CEO & Managing Director, Susan Lloyd-Hurwitz; Commonwealth Bank of Australia Chief Executive Officer, Matt Comyn; AMP Capital Global Head of Real Estate, Carmel Hourigan; Sunsuper Head of Private Markets, Michael Weaver; Centuria Property Funds Head of Real Estate and Funds Management, Jason Huljich; and the precinct’s key partners and stakeholders.
Ms Lloyd-Hurwitz said, “We worked closely with the Commonwealth Bank of Australia to co-create a state-of-the-art work and lifestyle destination at South Eveleigh that enriches the lives of its employees and the wider community. Pioneering new standards in commercial campus design, South Eveleigh is a place for workers and the people of Sydney to connect culturally, socially and physically. The precinct has generous public shared spaces, community facilities, public artwork, retail, sports courts and oval, skate park and a focus on innovation, housing some of Australia’s leading technological companies.
“Successful precincts provide an environment for collaboration and exchange, imaginatively mixing workspace with public and recreational facilities incorporating a variety of unique experiences to ensure everyone feels welcome. We are developing a world-class destination at South Eveleigh that is unique to Sydney. The level of quality, excellence and fantastic community contribution at the precinct is a testament to the hard work of our team here at Mirvac and our many partners.”
Commonwealth Bank of Australia’s Executive General Manager, Group Property and Security, Jennifer Saiz said, “We are proud to co-create Australia’s signature innovation district at South Eveleigh – a place where entrepreneurs, educators, the community and businesses like ours can come together to solve the challenges of the future.
“Being part of the precinct will position the bank to deliver its long-term strategy to be the best in digital. This starts with a culture and workplace that’s centered on innovating for our customers. Our workplaces at South Eveleigh are designed with flexibility, wellbeing, sustainability and connectivity in mind. It’s a place where we’ll bring our people together to motivate and inspire them about the bank’s ambitious plans for the future.
“With each new workplace, we build on what we’ve learned. Our world-class workplaces at South Eveleigh are an evolution of the high standards set at our existing buildings Commonwealth Bank Place and Commonwealth Bank Square. Investing in leading workplaces reflects our ongoing commitment to providing dynamic environments for our people as we build a simpler, better bank”.
AMP Capital’s Global Head of Real Estate, Carmel Hourigan, said South Eveleigh is the second significant development on which we’ve partnered with Mirvac in recent years, the first being EY Centre, 200 George Street.
“We’re proud to have delivered a state-of-the-art workplace with Mirvac and Sunsuper for a significant customer like the Commonwealth Bank of Australia. This fully leased, landmark office precinct adds additional high-quality office assets to our investors’ portfolio which will deliver superior investment performance for our clients both in the short and long term.”
The architects for Axle were the award-winning architects Francis-Jones Morehen Thorp (FJMT) to deliver best-in-class design excellence, technology, sustainability and placemaking principles.
FJMT Design Director, Richard Francis Jones said, “This advanced workplace project was about making authentic places to exchange ideas, innovate, meet, enjoy and just be. The architecture in concert with the historic Locomotive Workshops defines and embraces the precincts public spaces, connecting to the station and the existing neighbourhood to create an authentic vibrant low-rise city community.
“The new campus building ‘Axle’ is the first to be completed and is an advanced sustainable and collaborative workplace environment conceived like a miniature city, offering variation, vitality and choice in a refined and deeply human architecture.”
Global architecture firm, Woods Bagot, designed the tenancy fit-out of Commonwealth Bank of Australia’s workplace at Axle, providing their employees with the best tools, techniques and spaces for a mindset of innovation, to bring ideas to life.
Woods Bagot Principal and Global Workplace Design Leader, Amanda Stanaway said, “Axle is an agile, next generation work environment that focuses on Commonwealth Bank of Australia’s continued commitment to innovation, training and well-being of their people.
“Axle demonstrates an ongoing evolution of Commonwealth Bank of Australia’s workplace strategy which responds to changing business priorities, reinforcing Commonwealth Bank of Australia as the market leader and one of Australia’s most progressive and dynamic workplaces.”
Once complete South Eveleigh will consist of nine commercial buildings surrounded by shared public spaces with a diverse mix of retailers including a supermarket, hairdresser, gym and al fresco cafes to activate the precinct in the evenings and on the weekends. A range of public artworks by local artists will also enliven the precinct and celebrate the history and heritage of the site. Mirvac engaged Carriageworks to curate the artworks, which will be progressively installed up until 2020.
South Eveleigh is progressing on schedule with construction set to start on the refurbishment of the Locomotive Workshops this month. Commonwealth Bank of Australia’s second workplace building, The Foundry, will be complete in mid-2020.
The Axle building is a 6 Star Green Star building, and has a 5 Star NABERS Energy rating. Yerrabingin House is a 6 Star Green Star building and has an extensive solar system which has allowed it to be a carbon neutral building.
Mirvac’s premium logistics hub Calibre opens in Western Sydney
Mirvac Group (Mirvac) has today celebrated the official opening of its premium logistics hub Calibre, in Eastern Creek. The strategically located industrial precinct delivers high-quality built form and employment outcomes for Western Sydney and sets a new benchmark for industrial and warehouse facilities in Australia.
The Treasurer of New South Wales, The Hon. Dominic Perrottet MP officiated at the opening ceremony and cut the ribbon, alongside Mirvac CEO & Managing Director, Susan Lloyd-Hurwitz. Calibre’s thriving business community, together with the Mirvac team and project partners, turned out to celebrate the exciting milestone.
Calibre’s 22-hectare site includes a mix of flexible warehousing, A-grade office space and advanced specifications with 110,000sqm of floor space across five buildings. Ideally placed to cater to logistics, warehousing and manufacturing companies, Mirvac secured premium brands CEVA Logistics, Miele, Pet Circle, Sheldon & Hammond and ACFS e-Solutions at Calibre, with the Estate 100 per cent leased ahead of its practical completion.
General Manager, Industrial at Mirvac, Richard Seddon said, “At Calibre we’ve elevated the standard for industrial and warehouse facilities in Sydney with our focus on quality, functionally and flexibility which will futureproof the estate for years to come. Mirvac drew on its uniquely integrated business model and cross-sector experience to bring the best of office and residential design to an industrial asset, to exceed customer and industry expectations.
“We are proud to open this landmark facility which provides our customers with a significant competitive advantage, contributes to the sustainable, long-term growth of e-commerce and logistics in Australia and generates vital long-term employment opportunities for Western Sydney."
“Through our investment in placemaking, design and amenity we have already seen a community and a shared economy coming to life at the Estate.”
Treasurer of NSW, The Hon. Dominic Perrottet MP, said the logistics hub was boosting employment in Western Sydney creating hundreds of jobs during construction and on a permanent basis.
“NSW has the leading economy in Australia with the lowest unemployment rate, and investments like this one are at the heart of that success.
“This is a key infrastructure building block for Western Sydney, and will attract more businesses to the region, boost job opportunities for locals, and help shape the future.”
Mirvac Group said approximately 450 construction jobs were generated during the development phase with 480 permanent jobs resulting.
Supply Chain Director at Pet Circle, Nick Bennett said, “We’re excited to relocate our operation into the new facility at Calibre in Eastern Creek. The advanced specifications, new standards of amenity and bespoke warehouse features of the Estate will deliver long-term efficiency and flexibility for Pet Circle, ultimately boosting business growth. The custom designed facility at Calibre, which blends flexible warehousing and exceptional office space, was delivered beyond our expectations.”
“After seeing the high-quality workspace and amenity of the facility, it allowed us the flexibility to have employees based here that are not traditionally warehouse employees such as a customer service team. The recruitment drive post move allowed us to hire the majority of workers from the Western Sydney area.”
The site is perfectly positioned as a distribution hub for the eastern seaboard with excellent transport links at the interchange of the M4 and M7 motorways, and under an hour drive to the Sydney CBD, Port Botany and the new Western Sydney International airport.
Calibre has been built for ultimate flexibility with service provisions in two of the warehouses for a second office component allowing for split tenancies. It’s also equipped to accommodate a range of uses, with a nine tonne racking post load internal slab with armoured joints to support future automation requirements, generous space for loading and a 20 metre cantilevered awning system across the length of the loading face for the majority of the buildings.
Displaying best practice design and sustainability, Calibre has energy efficient lighting, rainwater harvesting, photovoltaic solar, cyclist and end-of-trip facilities and 10 per cent natural lighting to reduce energy bills and create savings for customers.
Operating 24 hours a day, 7 days a week, Calibre is located at 60 Wallgrove Road, Eastern Creek at the centre of Australia’s national supply network within the Eastern Creek logistics hub.
In August 2018, Mirvac sold a 50 per cent stake in the Calibre Estate to the Mirvac Industrial Logistics Partnership (MILP) a partnership between Mirvac and an investment vehicle sponsored by Morgan Stanley Real Estate Investing.
Yerrabingin and Mirvac open Australia-first Indigenous rooftop farm
Today, Mirvac Group and cultural start-up Yerrabingin officially opened Australia’s first Indigenous urban food production farm, located on the rooftop of Building 3 at South Eveleigh, Mirvac’s new technology and innovation hub (formally known as Australian Technology Park).
The completion of the joint cultural venture was marked by a celebratory event, attended by His Excellency General The Honourable David Hurley AC DSC; Costa Georgiadis, The ABC’s Gardening Australia host; Yerrabingin founders Clarence Slockee and Christian Hampson; special guests from anchor tenant Commonwealth Bank of Australia; Mirvac and its consortium partners AMP Capital, Sunsuper and Centuria Property Funds; as well as community and Indigenous members.
The farm brings to life Mirvac and Yerrabingin’s vision to celebrate South Eveleigh’s rich Aboriginal culture and heritage, through an engaging and educational experience. Workers, visitors and the local community will be encouraged to participate in the planned workshops to learn about Indigenous culture, native plants and tend to the farm. They also have the opportunity to purchase produce from the farm with over 30 native bush foods to choose from including finger limes, warrigal greens, native raspberries and sea celery.
Yerrabingin co-founder, Christian Hampson said, “We are excited to open Australia’s first Indigenous rooftop farm, to celebrate and promote Aboriginal permaculture. This is a significant step forward in embedding reconciliation into placemaking while harnessing the potential of Aboriginal social enterprise. The development industry can often be concerned about ‘overstepping protocol’ so it has been inspiring to work with Mirvac who have set an example for the industry in how to respectively incorporate Aboriginal culture and heritage.”
Mirvac Project Director, William Walker said, “With the transformation of South Eveleigh into a state-of-the-art work and lifestyle destination it was vital to Mirvac that we paid careful consideration to the site’s important Indigenous heritage and significance. By working with Yerrabingin we were able to co-create an experience at the precinct that will engage and connect the public to Aboriginal storytelling, while educating them on the history of the site.
“Successful precincts around the world deliver diverse offerings and experiences so all people feel welcome. The indigenous farm is a key part of our activation strategy for the precinct that will foster an inclusive community for visitors, local residents and workers.”
The farm will be self-funded through the delivery of 16 events per month for visitors and South Eveleigh’s 18,000 workers and residents. Yerrabingin will manage workshops, events and tours that focus on native permaculture, environmental sustainability, physical and mental health.
Yerrabingin are also working to establish the South Eveleigh Aboriginal Cultural Landscape Garden, which will grow native and medicinal plant species and bush food.
The Indigenous rooftop farm on Building 3 of the precinct is part of Mirvac’s $1 billion transformation of South Eveleigh, set for completion in 2020. The farm is one element of a wide range of engaging and educational experiences at the precinct including tours of the garden and storytelling, focused on celebrating and remembering Aboriginal culture.
South Eveleigh has been co-created by Mirvac, anchor tenant Commonwealth Bank, and consortium partners, AMP Capital, Sunsuper and Centuria Property Funds.
Mirvac secures Urbis at Olderfleet taking the building to 88 per cent leased
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.
Workplaces of the future are all about ‘Super-Experiences’
Mirvac Group (Mirvac) [ASX: MGR] launches a new discussion paper, ‘The Super-Experience: Designing for Talent in the Digital Workplace’, which highlights the rise of ‘super-experiences’ in the workplace and their impact on culture, engagement and productivity, at WORKTECH 2019 in Sydney.
A first look at the discussion paper was revealed this week at a VIP masterclass at Mirvac’s headquarters at the EY Centre, Sydney with special guest speaker Dr. Nelly Ben Hayoun, the ‘Willy Wonka of Design and Science’.
The paper spotlights how businesses are upping the ante when it comes to workplace experiences and raising the bar in an effort to compete for talent, attract Millennials and innovate amid rapid technological change.
From 3D digital waterfalls to the first orchestra of space scientists, super-experiences surprise and delight employees bringing people together to enhance productivity, innovation, wellbeing and lifelong learning.
General Manager of Workplace Experiences, Paul Edwards said: “With the rise of Artificial Intelligence automating data driven jobs, ‘super-experiences’ will play an increasing role in boosting performance on imaginative, empathic and creative types of work to future-proof the workforce. Super-experiences can make you feel excited or that you’ve achieved something; they can stimulate curiosity, create a sense of purpose or instil a sense of belonging. These emotional reactions drive positive interactions for employees and the businesses they work for.”
A global study by Deloitte in 2017 found that 80 per cent of executives rated employee experience either very important (42 per cent) or important (38 per cent), but only 22 per cent reported that their companies were excellent at building a differentiated employee experience. This shows there is work to be done in creating super-experiences in the workplace.
“In the past, the property industry and wider business world has put physical assets before people, and hard metrics around space and infrastructure before softer issues of behaviour, perception and belonging. That needs to change.
“Mirvac is currently working on a range of unique projects that reflect this new approach including an experience master-plan for Suncorp Australia’s headquarters at 80 Ann Street, Brisbane, as well as curated, cultural and learning based experiences at South Eveleigh in Redfern,” Mr Edwards said.
The discussion paper highlights the different types of super-experiences in the workplace including:
Research shows that a sense of awe in the workplace can encourage employees to think differentlyand improve their creativity. For example, the elevator in One World Trade Centre, New York, has an immersive digital display that reveals the transformation of New York City from unsettled plains to the current forest of skyscrapers. This experience moves individuals to another state of mind as they travel up the 102 stories of the building.
Experiences are becoming highly curated, with organisations orchestrating opportunities to bring people together. For example, Mirvac has included staircases through the middle of their office floors at the EY Centre in Sydney to allow for cross-departmental and cross-disciplinary collaboration and to enhance the ‘bump in’ factor for employees.
We are also seeing a rise in co-working spaces that target specific professional skills and industry sectors. For example, The Wing in New York is a space designed specifically for entrepreneurial women.
The Learning experience:
We are seeing a growing onus on ‘omni-learning’ where people are encouraged and expected to constantly update their skills independently and pass on learnings to colleagues. As a result, learning spaces typically found in museums and universities are entering the corporate office to create a culture of continuous learning. For example, Kahoot has developed learning platforms for Facebook to help engage employees in social learning through digital gaming.
Mirvac’s world-leading technology and innovation hub, South Eveleigh in Sydney is one example of a precinct being transformed with authentic experiences both for people who work there and the wider community. One of the super-experiences in the precinct is the creation of a rooftop Indigenous farm, which will grow exclusively native Australian produce. Visitors to the farm can learn about gardening, participate in regular historical talks and tours of the site or volunteer to tend the plants. This experience pays homage to the cultural history of the site in an innovative and interactive way.Mirvac partnered with WORKTECH Academy, a global knowledge platform for the future of work, to co-author the report.
Mirvac receives development approval to give South Eveleigh’s Locomotive Workshops a new lease on life
25 February, 2019: Mirvac Group (ASX:MGR) has received approval from the state’s Independent Planning Commission for its plans to revive the historic Locomotive Workshops at South Eveleigh (formerly the Australian Technology Park) at Eveleigh, Sydney.
Two separate State Significant Development Applications (SSDAs) were submitted for the sensitive conversion and adaptive re-use of the Locomotive Workshops. The approval represents an important step in delivering a vibrant new destination for Sydney with lasting positive benefits to the community.
The SSDAs were approved with the condition that Mirvac submit its heritage interpretation plan for approval prior to the first construction certificate being issued.
William Walker, Project Director at Mirvac said, “The revitalisation of the iconic Locomotive Workshops and wider South Eveleigh precinct will deliver a unique cultural and innovation hub for Sydney.
“Set to become a vibrant social and commercial destination for Sydney that invites workers, the local community, students and visitors in, Mirvac has worked with a range of expert partners, including the Heritage Council and community groups, to progress the transformation of the site.”
Mirvac placed strong emphasis on the celebration of the Locomotive Workshops’ heritage, as the historical centrepiece of the precinct. This was achieved through sensitive preservation of artefacts, restored machinery, public display areas, and the retention of the working blacksmith. Mirvac’s flexible space business Hoist will return to the Locomotive Workshops taking 3,000 square metres within the building, fostering a world class technology ecosystem at the precinct.
“For over 100 years the precinct was the engine room for Australia’s rail network, pioneering technology and advances in industry. Today we are restoring the precinct to its former status as a technology powerhouse with the Locomotive Workshops set to become a place for organisations of all shapes and sizes to find common ground to collaborate on the jobs and industries of the future,” Mr Walker said.
As a crucial piece in the wider strategic plans for the Central to Eveleigh corridor, South Eveleigh benefits from spectacular transport connections, future infrastructure plans and close proximity to the CBD making it an exceptional work and lifestyle destination.
Nick Sissons, Partner Sissons Architects and lead designer of the Locomotive Workshops, said the redevelopment presented a unique opportunity for a heritage-led design process that reveals and celebrates the old, whilst embracing the new.
“With the design philosophy firmly rooted in creating a great urban experience, the Locomotive Workshops will become a new destination for all, making a positive contribution to Sydney and its rich heritage,” he said.
The retail activation of the site will extend beyond the 9-5 working day and into the weekend, increasing public engagement through a new layer of cultural heritage initiatives and a range of artisan retail spaces.
Natalie Vinton, Director at Curio Projects, heritage consultant for the development said, “For heritage places to remain relevant, they must be adaptively reused to meet the needs of current and future users. By creating amazing cultural heritage experiences in everyday environments, we are investing in our custodians of heritage for the present and the future.
“Our aim for South Eveleigh is to create an experience where regardless of their initial reason to visit, people leave understanding a little more about the iconic site, its people and its history.”
The precinct will be home to 10,000 Commonwealth Bank of Australia’s (CBA) employees, and will have generous public and shared spaces, a community building, parks and sporting fields, and diverse retail for the community.
Construction on the Locomotive Workshops will begin in 2019 and is expected to be completed in 2020.
Led by Mirvac, a consortium including AMP Capital, Sunsuper and Centuria Property Funds, own South Eveleigh.
Mirvac Group (Mirvac), together with its co-owners, AMP Capital, are pleased to announce that EY Centre, 200 George Street has received the prestigious International Project of the Year award at the Chartered Institution of Building Services Engineers (CIBSE) Performance Awards, which was presented at an awards ceremony in London last night.
Mirvac’s Head of Office & Industrial, Campbell Hanan, said, “We are thrilled that EY Centre has been recognised on an international platform for its design and operational excellence, innovation and environmental performance.
“This award is a tremendous endorsement of our unique end-to-end capability, as well as our ability to collaborate with our partners to deliver a modern, world-class building that promotes sustainability, technology and the health and wellbeing of its occupants. It’s a truly great achievement for everyone involved.”
Developed in 2016, EY Centre was designed to contribute to Mirvac’s commitment to achieve net positive by 2030, with a range of energy-saving features incorporated from the outset. These include the world’s first closed-cavity façade and timber blind system, LED lighting throughout the entire building, and a comprehensive metering and monitoring system that allows the building management team to proactively enhance energy efficiency.
The building recently achieved a 5.5 star NABERS Energy rating (half a star above its targeted 5.0 star NABERS Energy rating) which represents market leading performance, and is particularly significant given it was achieved without tri-cogeneration or renewables. The asset has also achieved a suite of 6 Star Green Star ratings across Design, As Built and Performance categories.
The health and wellbeing of the buildings’ occupants was also integral to the design of EY Centre. A hybrid heating and cooling system delivers high levels of internal comfort, while ample end-of-trip facilities provide excellent amenity for tenants. A unique urban pop up farm in the building’s basement, meanwhile, offers employees a respite from their computer screens while giving them the opportunity to grow their own vegetables.
This is the second time Mirvac has been recognised at the CIBSE Performance Awards. In 2016, the Group was awarded the Facilities Management Team award, and received a highly commended in the International Project of the Year category for 23 Furzer Street in Canberra.
EY Centre has now been recognised with 19 awards to date.
Mirvac Scores a 6 Star NABERS Energy Rating at One Darling Island
Mirvac Group is pleased to announce that the One Darling Island office precinct in Pyrmont has achieved a 6 Star NABERS Energy rating without the use of GreenPower. One Darling Island is now one of only nine buildings in Australia to hold a base building 6 Star NABERS Energy rating and becomes the third asset within Mirvac’s Office portfolio to achieve the 6 Star Energy rating. It joins Sirius House in Canberra and the nearby Bay Centre which both hold the coveted 6 Stars for Energy.
Mirvac’s Sustainability Manager, David Palin, said the combination of a high quality, flexible base building, the team’s firm focus on driving energy efficiency, investment in renewable energy and the commitment and contribution of its valued partners made this achievement possible.
“Mirvac designed and constructed the building in 2006 with embedded flexibility and future-proofing which has allowed for continual improvements to be made to its environmental performance. Our team has worked ever since to capitalise on this potential by implementing a range of energy efficiency initiatives and installed 100kW of solar on the roof of the building in 2017.”
“As a result, energy consumption has reduced by 28% and carbon emissions have decreased by 39% since FY13, the baseline year of our Sustainability Strategy, This Changes Everything. This performance also directly contributes to Mirvac’s target to be net positive in carbon by 2030.”
“In conjunction with the Mirvac Asset Services team, our partners, including building automation solution and management providers, Alerton, have played a key role in improving the building’s operational efficiency and we are incredible proud of what we have been able to collectively achieve.”
The A-grade asset, which covers over 22,000 square metres of office space, is currently performing 1.5 Stars above its NABERS Energy Design target. 6 Stars is the highest possible NABERS Energy rating and it indicates market leading environmental performance.
Dennis Lee, Senior Team Leader in the Strategic Delivery Office at the Office of Environment and Heritage said, "Achieving a 6 Star NABERS Energy Rating is a great accomplishment. One Darling Island has joined an elite group of buildings in the top 1% nationally at this level of performance. Mirvac has demonstrated an ongoing commitment to energy efficiency at One Darling Island, reaching 6 Stars this year by cutting its energy use by a further 25%.”
Mirvac’s Bay Centre office, also in Pyrmont, was the first building in NSW to achieve 6 Stars NABERS Energy rating in 2016 and recently received the Green Globe Built Environment Award which recognises environmental excellence, innovation and leadership.
In March this year, Sirius House in Canberra became the first building in Australia to achieve a 6 Star NABERS Energy rating, a 6 Star NABERS Water rating and a 6 Star Green Star Performance rating, without the use of GreenPower or externally sourced recycled water.
Two new arrivals at Mirvac’s 367 Collins Street, Melbourne take the building to 100 per cent leased
Mirvac Group (Mirvac) [ASX: MGR] today announces new arrivals the National Disability Insurance Scheme (NDIS) and Dow Chemical at its A-grade commercial office tower, 367 Collins Street Melbourne, bringing the building to 100 per cent leased.
NDIS, an independent statutory agency supporting Australians with a disability, and Dow Chemical, a multinational chemical corporation, will each occupy 1,115 square metre floors of the newly refurbished building.
Group Executive, Office – Mirvac Property Trust, Andrew Butler said, “We continually invest in our buildings to ensure they are at the forefront of design, innovation and wellbeing and provide high calibre workplaces for our customers. The recent extensive refurbishment of 367 Collins Street was the catalyst for the signing of both, NDIS and Dow Chemical, resulting in the building becoming fully occupied.
“This achievement reflects the strong office market conditions in Melbourne with low vacancy rates and high tenant demand. Melbourne is a focus for Mirvac with expectations that the CBD rental growth will match or exceed Sydney in the coming years.”
Dow Chemical was drawn to 367 Collins Street for its location in the heart of the city’s financial precinct, close proximity to public transport including Flinders Street Station, and access to lifestyle amenities including a gym and new end-of-trip facilities in the building.
Mirvac’s extensive refurbishment of the building saw the transformation of the lobby into an activated space for employees to work, socialise and relax away from their office. It also allowed Mirvac to maximise the footprint of the building by creating space for four new tenancies on the ground floor and three new tenancies on Flinders Lane.
The final stage of the refurbishment is currently underway with the revitalisation of the building’s surrounding public access ways. Celebrating Melbourne’s iconic laneway culture, Mirvac will connect the southern entrance of the building to Flinders Lane.
Two new retail tenancies will occupy the laneway; Co-Hanh, at 348 Flinders Lane to open before Christmas; and Tian 38, at 350 Flinders Lane to open before Chinese New Year 2019. The eateries will add to the vibrant flare of the laneway, bringing a strong multi-cultural vibe and delicious food and beverage offerings for the building’s community.
NDIS and Dow Chemical join high quality brands Optus, AICD, Colliers, Anytime Fitness, Sportsbet and Brickworks Building Projects.
Mirvac opens a vibrant new food and dining destination at Riverside Quay
Mirvac Group (“Mirvac”) [ASX: MGR] is pleased to announce the completion of the new retail and dining precinct at Riverside Quay, Melbourne.
The recently opened culinary quarter presents 10 new eateries peppered throughout the ground plane of Riverside Quay’s four commercial buildings. Together with the existing Southbank Promenade restaurants, the new retailers will create an enhanced, vibrant food and beverage offering, emulating the ambience and buzz of Melbourne’s famous laneways.
Riverside Quay now offers a mix of grab-and-go, casual dining and lunch options, as well as restaurants to suit all tastes. A range of international cuisines and cult brands including Jiaozi by Shanghai Street Dumplings, Old Man Pho, Infinite Wasabi, Thailander, Poked, Dagwood Deli, Workshop Brothers, 30ml Coffee and D.O.C. (opening early 2019), make up the all-star line-up.
Anchoring the new food hub is San Telmo’s, newly opened Asado Bar and Grill, which features meat cooked over a grill and wood fire, but with an Argentinian twist.
Group Executive, Office – Mirvac Property Trust, Andrew Butler said, “The opening of a new retail destination at Riverside Quay is the most recent piece in an extensive
revitalisation of the precinct which included the development of a new flagship office building and a public park.
“We’ve transformed the waterfront to create a place where people can work, relax and dine, activating the area beyond the nine to five work day. The refreshed food offering has been carefully curated to cater to the needs of our high calibre tenants and the wider community.”
Mirvac partnered with Six Degrees Architects to reimagine the Riverside Quay precinct. Reconfigured office lobbies, together with new paving, canopies, feature lighting, outdoor seating and improved wayfinding have resulted in a refreshed ground plane.
Working closely with the City of Melbourne and the local community, Mirvac has delivered a public park at Riverside Quay.
“The park is the perfect extension of the new food and dining district, creating an engaging space for the hundreds of workers, residents and visitors that pass through the area each day. We’ve already seen a huge increase in foot traffic at Riverside Quay and have received extremely positive feedback from the community on the renewed spaces,” added Andrew.
In the lead up to Christmas there will be a lot of activity in the Laneways at Riverside Quay including live music, entertainment and special offers from the retailers. Join in the fun every Wednesday and Thursday night, 5pm to 8pm, from 5th to 20th December 2018.
Mirvac Group (“Mirvac”) today launches a new mobile app, through an Australian-first partnership with leading proptech company, Workwell. The app is designed to build a sense of community and connection in the workplace.
Workwell is a technology platform that centralises access to all building and customer services. From buying a coffee, booking a car parking space or meeting room to setting up a running club and even finding a colleague to eat lunch with, the Workwell app helps employees build their networks and fosters community at workplace precincts. The app has been successfully deployed in over 100 large corporations worldwide including the US and Europe and is expanding into Australia with the help of Mirvac.
Mirvac is launching the app across its flagship commercial and industrial buildings, EY Centre, 200 George Street in Sydney; 367 Collins Street in Melbourne; and Calibre Industrial Estate in Western Sydney. The app is fully tailored for the Australian market and will be rolled-out across the rest of Mirvac’s portfolio in 2019.
General Manager of Workplace Experiences at Mirvac, Paul Edwards said, “Employee experience underpins the future of work and is redefining how we think about reimagining the communities we create. It’s crucial to improving engagement, collaboration, loyalty and wellbeing in the workplace. Our partnership with Workwell will help us foster community within all of our buildings, positively impacting on the experiences we deliver.”
Workwell makes office life easier for employees as they no longer have to hunt through a range of single-use apps to access the services available to them at work. Instead, the appcentralises a variety of services onto one platform including childcare services, HR onboarding, food & beverage deals, announcements, group meet ups, car parking, wellness classes and more. Workwell is built as an open platform, which means new services from Mirvac and their customers can be frequently added in to ensure it’s always up to date. The app will also gather data on how the occupants are using the building, providing Mirvac with valuable insights to help improve the employee experience.
“We are committed to creating Australia’s most intelligent buildings with the latest technology that helps our customers be more efficient. Workwell was the perfect solution to streamline our tenant’s interaction with colleagues, the broader community, systems and building services to help make their lives easier,” said Mr Edwards.
The concept for the app started in 2015 in the USA by Marie Schneegans, who felt lonely and isolated in the workplace and created Never Eat Alone, a mobile app that enabled employees of large corporations to meet co-workers over lunch. The app was highly successful in Europe and North America, and customer feedback led Marie to expand its scope turning it into Workwell.
Co-Founder of Workwell, Paul Dupuy said, “We are proud to partner with Mirvac to launch Workwell in Australia and roll out the app across their extensive national portfolio of commercial buildings. Mirvac was a natural fit for us due to the high-quality of their buildings and forward-thinking approach to workplace creation.
“The collaborative partnership has enabled us to deliver on Mirvac’s specific needs. It’s clear that Mirvac is dedicated to improving the customer experience and communities within its buildings and we are pleased to help them achieve this.”
Workwell operates in 10 countries with its headquarters in the US, and offices in New York, Paris and now Sydney. International clients include Unibail-Rodamco-Westfield, AXA, American Express and BNP Paribas.
Mirvac secures first Melbourne CBD Kids Club and Lander & Rogers at Olderfleet
Mirvac Group (Mirvac) [ASX: MGR] has today announced the signing of two new leases at its flagship Melbourne office tower, Olderfleet, at 477 Collins Street. Kids Club Early Learning Centres will open it’s first Melbourne CBD centre with approximately 1,000 square metres, while law firm Lander & Rogers will occupy approximately 5,000 square metres of the premium-grade commercial building.
Mirvac’s Development Director, Frank Lonetti said: “Kids Club Early Learning Centres and Lander & Rogers will add to the high calibre of tenants at Olderfleet, joining anchor tenant Deloitte, and Norton Rose Fulbright.
“Following the extensive co-creation process we undertook for Olderfleet with our customers, a shared vision emerged for a workplace that goes beyond state-of-the-art office space. By drawing on innovative technologies and contemporary thinking we are proud to deliver a carefully curated and customised workplace that, once complete, will offer a range of amenities that support work life balance, offer convenience, engage with the community and drive productivity, enhancing the overall customer experience of the building and its surrounding public realm.
“With more and more people working flexibly, and outside the traditional hours of nine to five, a convenient childcare option was paramount for the tenants at Olderfleet. We are proud to deliver on this demand with the signing of Kids Club Early Learning Centres.”
The childcare centre will accommodate 130 children and will have 50 per cent indoor and outdoor play areas, boasting learning spaces that have been designed with a focus on natural light and the need for children to enjoy open air space.
Kids Club Early Learning Centres CEO, Corie Stone, said: “We’re thrilled to be the childcare operator of choice for Mirvac in such an iconic site. Kids Club Early Learning Centres are well recognised in Sydney and Canberra for their Education for Life Program and for having some of the most creative play spaces in Australia. We’re proud to finally bring our Six-Star Early Education experience to Melbourne.”
Kids Club Early Learning Centres and Lander & Rodgers will add to the diversity of tenants at Olderfleet, and demonstrates the strong market success for the development.
Lander & Rogers is a leading independent Australian law firm with over 80 years of operating experience across seven key areas of practice. The firm will occupy Levels 12 to 15 of the advanced commercial building, which will include technology-enabled workplaces and sustainability features.
Lander & Rogers' Chief Executive Partner, Genevieve Collins, said: "Relocating our Melbourne office to Olderfleet marks an incredibly exciting time for the entire firm and forms a key part of our future-focussed journey. It will give us the opportunity to create our own contemporary environment, enabling us to work collaboratively while inspiring the creativity that will drive innovation in our client service delivery — giving both our people and clients an exceptional experience. Importantly, this new premises will also feature a number of excellent benefits to support the work-life balance of our people. These include an onsite childcare centre, extensive end-of-trip facilities and a wellness centre, reinforcing our firm's commitment to our people's health and wellbeing".
“Lander & Rogers, a prestigious professional services organisation, was drawn to the unique working environment, amenities and the enhanced experience that Olderfleet will deliver for workers. We are delighted to have them sign on as a tenant,” added Mr Lonetti.
Construction of Olderfleet is progressing as per program with completion of the building scheduled for 2020.
A range of facilities will be available at Olderfleet including a wellness centre, luxurious hotel-style end-of-trip facilities, and 410 car parking spaces with direct access to the childcare centre. Along Collins Street and Flinders Lane, on the ground floor of the building, flexible workspaces will be seamlessly integrated within a vibrant mixed-use precinct with a variety of food and beverage offerings.
Olderfleet is targeting a 5 Star Green Star rating, a 5 Star NABERS energy rating and a Platinum WELL Certification.
David Malcolm Justice Centre Wins Property Council of Australia’s Environmentally Sustainable Design & Sustainability Award
Sustainability is at the heart of everything we do. We are delighted therefore to announce that the David Malcolm Justice Centre (DMJC), located in Perth, was recognised for its pioneering environmentally sustainable design by the Property Council of Australia (PCA) at the 2018 Western Australia Property Awards.The judges selected the DMJC as the winner of the ‘Environmentally Sustainable Design (ESD) and Sustainability Award: Premium/A Grade’ Award because they felt the design is “something rarely seen in the market.”
Located within the Cathedral Precinct at the junction of Barrack Street and St Georges Terrace, the DMJC is a 32 storey, A-grade commercial office tower jointly owned by Mirvac and Keppel REIT. The tower forms the centrepiece of the $700 million redevelopment of one of Perth’s most significant heritage precincts. The site encompasses the Como Hotel in the Old Treasury Building, the Perth Library, the State Administrative Tribunal building, the Public Trustee building, the Perth Town Hall and the St Georges Cathedral.
Named in honour of the late Chief Justice, David Malcolm, the building houses the Supreme Court, judicial chambers and state-of-the-art office accommodation for the Department of the Attorney General and Treasury.
From the outset, the design and construction of the tower focused on delivering exceptional environmental sustainability outcomes. Our goal was to create an energy efficient building with low operating costs. The building, which features Perth’s first tri-generation system and a grey water treatment plant, has received acclaim for its sustainability achievements since inception. The tower also received a Green Building Council of Australia (GBCA) 5 Star Green Star Rating – Design in 2012, and a GBCA 5 Star Green Star - As Built rating in August 2017.
But the most significant sustainability milestones have occurred from the ongoing operation of the tower. The building earned a 5 Star NABERS rating in March 2018 and Perth’s first GBCA 6 Star Green Star performance rating in May 2018. The DMJC has increased overall recycling rates to 74 per cent during the last financial year, exceeding initial targets.
The Property Council judges were impressed by the DMJC’s “market leading results”, and its significant achievement to receive Perth’s first GBCA 6 Star Green Star performance rating. The DMJC excelled in the Award criteria, based on the design’s vision and innovation, adaptability and results. On top of winning the ESD and Sustainability award, DMJC was also chosen as the winner of the Western Australia Commercial Property of the Year over 20,000sqm award.
Mirvac secures future office development asset in Melbourne, VIC
On 3 September 2018 Mirvac Group (Mirvac) announced it has acquired 383 La Trobe Street in Melbourne, VIC for a total consideration of $122 million, representing an initial yield of 5.7 per cent.
Located within Melbourne CBD’s legal precinct and close to Flagstaff train station and other public transport services, 383 La Trobe Street is a seven-level B-grade office asset with future redevelopment potential. The office component covers approximately 10,200 square metres and is 100 per cent leased to the Australian Federal Police.
Mirvac’s Head of Office & Industrial, Campbell Hanan, said, “The acquisition of 383 La Trobe Street presents us with a rare opportunity to secure a significant development asset in a well-located part of Melbourne’s CBD, while providing the Group with secure income over the medium term.
“We continue to see strong market fundamentals in Melbourne, as well as limited future supply options for tenants beyond the current development cycle. This acquisition allows us to grow our presence in this key gateway city, while adding to our current $3.1 billion commercial development pipeline.”
Mirvac intends to redevelop the site into a new A-grade office tower spanning over 40,000 square metres.
On Friday 31 August 2018 Mirvac announced it had sold a 50 percent interest in Calibre at Eastern Creek, NSW to the Mirvac Industrial Logistics Partnership (MILP).
A summary of the transaction is outlined as follows:
the total consideration for the 50 percent interest of the completed development is approximately
$125 million, reflecting a fully leased passing yield at project completion of 5.14 percent;
Mirvac will complete the remaining development of Buildings 2 and 5 at Calibre via a fund-through arrangement;
Mirvac will retain a 55 percent interest in the asset1; and
Mirvac will provide trust administration services, property and development management, and
ongoing leasing services for the asset.
Mirvac’s Head of Office & Industrial, Campbell Hanan, said, “The 50 percent sell down of Calibre is in line with our capital partnering strategy and provides us with a fantastic opportunity to grow our industrial logistics partnership.
“The transaction will also allow us to redeploy capital into our industrial business, where we are currently seeing very strong demand for Premium grade assets.”
Three of the five buildings at Calibre have reached practical completion, with Buildings 2 and 5 expected to be completed in the current financial year. The estate is approximately 80 per cent leased, with a heads of agreement signed for Building 5. Once executed, this will take the estate to 100 percent leased.
MILP was established in 2017 and is a partnership between Mirvac and an investment vehicle sponsored by Morgan Stanley Real Estate Investing. The transaction will see MILP’s combined gross asset value increase to approximately $220 million, with its exposure to Sydney increasing to 70 percent following the recent acquisition of 1 Johnson Road, Campbelltown NSW.
Mirvac refurbishment increases tenancies at 367 Collins Street, Melbourne
Thursday 26 July 2018 saw Mirvac Group (Mirvac) celebrate the completion of an extensive refurbishment of 367 Collins Street, Melbourne, with the official opening of the new lobby.
Completed this month, the newly renovated lobby has allowed Mirvac to maximise the footprint of the building, creating space for four new tenancies on the ground floor and three new tenancies on Flinders Lane.
In addition to Anytime Fitness, Colliers Residential and on-site café Falcon, a range of premium tenants will be introduced to the building. This includes Brickworks Building Products who is set to move in November 2018 in a first-of-its-kind retail offering in Melbourne.
The new lobby also features a four-metre revolving door entry and triple-height ceilings.
Andrew Butler, Group Executive, Office – Mirvac Property Trust, said the company invested significantly to deliver an exceptional new office environment for tenants.
“As part of Mirvac’s vision to reimagine urban life, we’re committed to providing best-in-class assets for our tenants and the wider community. The first phase of the refurbishment in 2016 saw the conversion of a bank vault into brand new, state-of-the-art end-of-trip facilities, The Nest.
“We’re pleased to be celebrating the completion of the second phase of the refurbishment. The transformation of the lobby has allowed Mirvac to create additional tenancies in addition to an activated space for tenants to work, socialise and relax.”
Hazel Porter, Principal and Lead Design Architect at Woods Bagot, said, “The project presented us with an exciting opportunity to re-invent one of Melbourne’s best known commercial towers by activating and energising its entire ground plane.”
Regarded as one of Melbourne’s most prominent A-Grade towers, 367 Collins Street occupies a prime location at the heart of the city’s financial district between Elizabeth and Queen Street in Melbourne. The building is currently home to major tenants Optus and Sportsbet.
Mirvac secures Norton Rose Fulbright at Olderfleet, Melbourne
We are proud to announce the signing of global law firm Norton Rose Fulbright to our Olderfleet building at 477 Collins Street in Melbourne. Norton Rose Fulbright will occupy the top floors of the cutting-edge commercial building.
The firm has committed to 5,100 square metres on levels 35 to 38, taking advantage of the outdoor terrace on Level 37 as a flexible space for entertaining, meetings, socialising and enjoying the spectacular city views.
Norton Rose Fulbright will be joining anchor tenant Deloitte, who has committed to over 26,000 square metres of office space, upon completion in 2020.
Mirvac’s General Manager of Commercial Development, Simon Healy said, “As a leading global professional services firm, Norton Rose Fulbright aligns with the high calibre tenants Mirvac has secured at Olderfleet, such as anchor tenant, Deloitte. We are very pleased that the law firm was drawn to our vision for the building as a unique place to work and visit, with leading technology and sustainability design."
Norton Rose Fulbright managing partner in Australia, Wayne Spanner, said, “We’re delighted to be re-locating our Melbourne office to Olderfleet, a building which we are certain will both reflect our values and provide our partners and staff with an inspiring and technologically advanced physical platform. We are grateful to Mirvac for its support which has enabled us to make this important decision for our business.”
Mirvac is working closely with Grimshaw Architects and Carr Design to bring Olderfleet to life, with construction on the first of the office floors well underway. We have also secured a partnership to provide smart lighting throughout the building with Enlighted, a world-leading provider of IoT platforms for smart buildings, and Honeywell, a global Fortune 100 software-industrial company, to deliver workplace performance monitoring technology.
Olderfleet will be the first commercial building in Australia to roll out this new system to help tenants and building managers track activity in the workplace, leading to cost efficiencies and better performance.