Geelong's tallest building, the new WorkSafe headquarters, has officially opened for business.
The $120 million A-grade tower at 1 Malop Street will house more than 500 formerly Melbourne-based staff.
The 14-storey building, which stands 65 metres tall, is owned by property group Quintessential Equity, has been recognised by the International WELL Building Institute for incorporating design features promoting sustainability and wellbeing.
Quintessential Equity chief executive Russell Bullen said the completed project was a result of collaboration between the Quintessential Equity team, WorkSafe, along with funding from the Clean Energy Finance Corporation.
“Geelong is leading the way with this building, which is at the forefront of global standards, both environmentally and in terms of design for human health and wellbeing,” Bullen said.
Recent research on national office markets reveals soaring demand for office space in capital cities Sydney and Melbourne has pushed the national vacancy rate to 9.4 per cent, prompting tenants to look for affordable office space on the city fringes and outer-lying areas.
The Melbourne CBD recorded 41,900sq m of office space taken over the quarter and 113,600 sq m over the 2017-18 financial year.
More than 600 construction workers contributed to the Geelong development, half of which were Geelong-based workers.
“WorkSafe’s new head office is a proud symbol of our investment in Geelong and regional Victoria, and will be an excellent base for WorkSafe to continue to deliver for workers, employers and the Victorian community,” Minister for Finance Robin Scott said at the official opening.
The 1 Malop Street building has been designed and built to target a 5.5 Star NABERS Base Building Energy Rating and is the first 6 Star Green Star rated project in Geelong.
The project has also achieved a Platinum Core & Shell WELL Building Standard Rating, which marks the first in Victoria and the second in the world to achieve WELL credentials.
Last year, the building became the first in Australia to be awarded WELL Pre-certification by the International WELL Building Institute.