New lease commitments spur next stage for Caribbean Park office precinct

Sydney, 08 March 2016 – The Spooner family has secured another two tenants for its new Caribbean Park office precinct at Scoresby in deals totaling 2,500sqm.

Austbrokers Countrywide and AVEA Insurance have both committed to 35 Dalmore Road – a recently completed office complex that was speculatively developed at Caribbean under a plan to transform the site into one of Melbourne’s premier suburban office precincts.

CBRE Office Service has steered the leasing campaign, with over 10,000sqm of space now committed including earlier deals with Newell Rubbermaid and Miele.

CBRE Senior Negotiator Gianni Macdonald said the quality of the development and its unique parkland setting had underpinned strong tenant interest in the project over the past 12 months.

“A driving factor for Austbrokers and AVEA was the opportunity to move to better, more efficient office space, with both firms relocating from older-style suburban buildings,” Mr Macdonald said adding that a turnkey solution had been provided to both tenants.

Leading insurance company Austbrokers is relocating from Surrey Hills after committing to a 10-year lease over 1,500sqm of space. The insurance and financial planning firm was represented by Gorman Commercial.

Motor vehicles insurance company AVEA is relocating from Berwick, having leased 1,000sqm of space on a five-year term.

While the financial terms on both deals cannot be disclosed, Mr Macdonald said the commitments had achieved the project’s targeted commercial terms.

The 35 Dalmore Drive development provides large, flexible floorplates allowing for collaborative workplace settings and multiple touchdown spaces.

Designed by Jacobs Architects, the space has been designed to achieve a minimum 5 star Greenstar and NABERS rating.

The office precinct has been master planned around the existing amenity already located in the park, which features wide roads, generous open spaces, meticulously maintained landscaping and a lake which will form the centerpiece of the precinct in years to come.

“The parkland setting at Caribbean has been a real differentiator, providing a level of amenity not presently available in other city or suburban office precincts,” Mr Spooner said.

“The landscape brings people together through a series of social spaces. Key features include an on-site café, providing indoor and outdoor dining, future childcare and gym facilities along with expansive walking paths and green spaces.  This had underpinned tenant interest and spurred us to commence construction on the next two office buildings, totaling another 16,000sqm.”