Lendlease lands Spaces hubs for Melbourne Quarter
Property giant Lendlease has secured co-working hub operator Spaces in two of the office towers at its $2.5 billion Melbourne Quarter development in Docklands.
The hub operator, part of International Workplace Group, which was previously known as Regus, will take 7000 square metres in total, in one of the largest single deals in the rapidly growing co-working sector.
Spaces will occupy one floor at One Melbourne Quarter and more than 4000 square metres over two floors at Two Melbourne Quarter, which are the office towers to emerge at the ambitious regeneration project within the Batmans Hill precinct of Docklands.
Spaces will also run the business lounge facilities in each building’s lobby as extensions of their workplace.
“Spaces will introduce a broad range of organisations to Melbourne Quarter, presenting an exciting proposition for the precinct’s existing workforce and retailers,” said John Burton, Lendlease’s managing director for urban regeneration:
There will be more than 700 flexible workstations available when Spaces moves into One Melbourne Quarter in May this year and Two Melbourne Quarter once it is completed in mid-2020.
Greater flexibility
The Melbourne Quarter facilities will be Spaces’ fourth in Melbourne, with other hubs in Richmond as well as the Rialto Towers and the refurbished T&G Building at 161 Collins Street
“This year, the growth of flexible working is predicted to rise across Australia, as more office-based activity is demanding greater choice and flexibility in the workplace, for businesses, organisations and their employees,” said Damien Sheehan, IWG’s head in Australia.
The Melbourne Quarter deals were brokered by Colliers International’s Tony Landrigan and JLL’s Nick Drake.
Commercial office space in the Melbourne Quarter towers is being leased at around $560 on a net face basis, according to industry sources..
The agreement with Spaces means the 26,400 square metre One Melbourne Quarter is now fully leased with tenants including Arup, AMP and Lendlease itself.
More than half of the 50,000 square metre Two Melbourne Quarter, now under construction, has been committed to tenants including EnergyAustralia.
Further into Docklands, Lendlease is also close to filling the 38,000 square metre tower at 839 Collins Street where ANZ is the anchor tenant.
QBE is taking three of the remaining floors covering almost 6000 square metres while a co-working hub player is also understood to be interested in space there.
