Quintessential Equity has appointed Kane Constructions to deliver a new $85 million commercial development located in Geelong.
With construction commencing in March 2020, it is estimated that the build of 60 Moorabool St will create 250 jobs within Geelong and inject more than $50 million into the local economy.
Designed by Cox Architecture, the mixed-use building will comprise approximately 11,050 square metres of A-Grade lettable office space to accommodate over 900 employees, and includes retail commercial space, an underground car park and end-of-trip facilities.
Kane Constructions’ project director, Sam Birdseye, says that 60 Moorabool St represents another important step in revitalising Geelong.
“In addition to creating 250 jobs, it is estimated that around 60 per cent of the total construction cost will be procured from the Geelong/G21 region,” he says.
The office building is set to become the new headquarters for health insurer GMHBA, the anchor tenant, leasing three of the eight levels.
Quintessential Equity, GMHBA and Kane Constructions are all signatories of the G21 Region Opportunities for Work (GROW) Compact – an initiative focused on maximising economic and social outcomes in the Geelong region.
According to GROW director, Anne O’Brien, each of these organisations has committed to creating a prosperous community.
“GROW is delighted that three Compact signatories are partnering for this important project, working together to deliver social benefit for all G21 communities through employing and buying locally,” she says.
Demolition of the site has commenced, with completion slated for mid 2021.