Major new office development planned for Melbourne Airport
Oct 31, 2007
Melbourne Airport has today announced plans for a major new office complex.
To be located on Melrose Drive, the planned office development is a partnership between Melbourne Airport and one of Australia’s largest office owners and developers, Investa Property Group.
The development is subject to regulatory approval from the Federal Department of Transport & Regional Services. It will comprise approximately 11 hectares of campus style, two and three-storey office buildings, providing a prime location for tenants looking for excellent access to Melbourne Airport.
“With only an 8 per cent share of the total office space in Melbourne, Melbourne’s north is crying out for greater business accommodation to serve its booming economic development,” said Melbourne Airport’s General Manager, Property Development, Gerard Neylan.
“Melbourne Airport will represent an attractive option for businesses considering a move, particularly with the outstanding growth this region is currently experiencing, and the advantage of unrivalled access to one of Australia’s key transport hubs.”
Construction is planned across three stages over the next ten years and will be built under stringent environmental design principles, carrying a 4.5 star Australian Building Greenhouse Rating (ABGR.)
“Consistent with Investa’s leading position on sustainability we share Melbourne Airport’s vision to create an affordable office park in the north leveraging off the airport location, while at the same time providing tenants with office space that meets the highest environmental standards,” said Investa Group Executive, Investa Commercial Developments, Richard Johnston.
The first stage, estimated to provide approximately 17,000m² of office space, is expected to commence in late 2008 and be completed by the end of 2009.
Target tenants include national/international hi-tech and pharmaceutical businesses, who will look for strong links with air freight. The location will also appeal to tenants looking for ease of commuting between national and international cities.
The planned development coincides with the recent Northern Exposure report by Northlink, the key partnership body promoting commercial property growth in Melbourne’s north, which highlighted the need for greater office accommodation in this region of Melbourne.