First tenants commit to new Caribbean Park office precinct
First tenants commit to new Caribbean Park office precinct
29 July 2015
Melbourne, 30 July 2015 – The Spooner family has inked the first lease deals for its new Caribbean Park office precinct, securing commitments from high–profile, global companies Newell Rubbermaid & Miele, and a third undisclosed.
In total some 4,500qm is now committed, providing a clear vote of confidence in the southeast Melbourne project and validating the Spooner’s decision to speculatively develop the first building.
Over time, more than 40 office buildings will be developed at the Caribbean Park site under a comprehensive masterplan designed to transform the land into a new mini city.
Newell Rubbermaid & Miele represent the cornerstone deals for the first project - a twin-building, 16,000sqm office complex at 35 Dalmore Road, anticipated for completion in September 2015.
Ben Spooner, son of Caribbean Park founder Rodney Spooner, said the lease commitments were an exciting step forward in creating what was intended to be one of Melbourne’s premier, suburban office precincts.
“We’re realising our vision for Caribbean Park, which is to create a new generation workplace less than 30 minutes’ drive from the CBD,” Mr Spooner said.
“We said all along we needed the right covenants and these are exactly the cornerstone transactions we were hoping for.”
Newell Rubbermaid - a global marketer of consumer and commercial products, with a strong portfolio of leading brands, including Sharpie®, Paper Mate®, Rubbermaid Commercial Products®, Irwin®, Lenox®, Parker®, Waterman®, Contigo®, Rubbermaid®, Levolor®, Calphalon®, Goody®, Graco®, Aprica®, Baby Jogger® and Dymo® - will occupy up to 2,500sqm of space in the Dalmore Drive building, which was designed by Jacobs Architects. The space has been designed to achieve a minimum 5 star Greenstar and NABERS rating.
Newell Rubbermaid’s, ANZ VP and General Manager, Mike Halak, said Caribbean Park offered a compelling value proposition with high quality office space designed to engage and inspire staff while also achieving optimal energy efficiency.
A further 1,300sqm in the Dalmore Drive building has been leased by Miele - a German-based manufacturer of high-end domestic appliances, commercial equipment and fitted kitchens.
Miele Finance & Administration Director Sascha Heckmann said; “As a premium household brand it was very important for us to be associated with a high-quality project that met all our touchpoints – including a high-exposure location which offers ease of access and the highest level of amenity for our employees.”
The 35 Dalmore Drive development provides large, flexible floorplates comprising 1938-1944sqm, which provide for collaborative workplace settings and multiple touchdown spaces. The site offers direct access to the EastLink motorway and generous onsite parking.
It is the latest undertaking for the Spooner family, who have progressively developed more than 200,000sqm of high quality logistics facilities at the 200ha Caribbean Park site together with the iconic Caribbean Market.
The next phase will include up to 230,000sqm of office space around Lake Caribbean, originally built in the 1950s to test boats built in the family’s Caribbean Boat Factory.
The office space will be situated in Wi-Fi enabled parkland, providing opportunities for tenants to take their meetings outside and be in a workplace that encourages increased efficiency.
“The intention is to provide an inviting, inspiring place to work that will be a refuge from the city and evolve over time to be one of Melbourne’s premier office precincts,” Mr Spooner said.
“The parkland setting is a real differentiator, providing a level of amenity not presently available in other city or suburban office precincts – we are offering more healthy green space for staff than anywhere else; a two bedroom apartment worth of green space for each person in fact”.
Award-winning landscape architects OCULUS have designed the network of public spaces, streets, promenades and pedestrian links that will give life to the new precinct, incorporating three times more green space as the Melbourne Botanical Gardens. Some 8,000 trees have already been planted with a further 2,000 due to be planted by 2016.
“Everything has been considered to promote good health and increased efficiency,” Mr Spooner said, adding that the intention was to provide a connected, green network where people could conduct outdoor meetings and walk, run or ride at lunch, with end of trip facilities back at the office.
Leasing for the project has been overseen by CBRE Pacific Director Ari Petrovs, with Elise Betts and Gianni McDonald responsible for all project marketing and transaction management.Newell Rubbermaid was represented by Genna McCarthy, Director, CBRE Global Corporate Services.
“We’ve been overwhelmed by the tenant interest we’ve received and are presently in advanced negotiations with additional occupiers of a similar ilk to Newell Rubbermaid and Miele,” Ms Betts said.
The Miele and Newell Rubbermaid deals have been signed on long term leases that range up to seven years.
While commercial terms cannot be disclosed, Ms Betts said the commitments had achieved the project’s targeted, commercial terms.
Genna McCarthy, Director – CBRE Global Corporate Services said: “Newell Rubbermaid needed high quality efficient office space with outstanding sustainability ratings and amenity for their employees.Following an extensive search of the outer southeastern suburbs, it became clear that Caribbean Park was the standout option in terms of meeting Newell Rubbermaid’s criteria.”
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CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.