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Mirvac Pads Out Tenant List at Olderfleet

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Mirvac has signed two major leases at its flagship Olderfleet development in Melbourne’s CBD, with law firm Lander & Rogers joining a childcare operator as 477 Collins Street’s newest tenants.

Lander & Rogers will commit to 5000sq m in Melbourne’s largest premium-grade office building, occupying three-storeys across levels 12 to 15.

Kids Club Early Learning Centres has committed to about 1,000sq m – its first CBD childcare centre – delivering a childcare option for 130 children.

“With more and more people working flexibly, and outside the traditional hours of nine to five, a convenient childcare option was paramount for the tenants at Olderfleet,” Mirvac development director Frank Lonetti said.

Mirvac sold a 50 per cent stake in its landmark office development to Singapore’s Suntec REIT in mid-2017.

The Suntec REIT paid $414 million for the stake, agreeing to fund 50 per cent of the development costs of the 56,000sq m office building.

The newly announced tenants will join anchor tenant Deloitte and law firm Norton Rose Fullbright in the 40-storey tower. Deloitte has committed to 26,000sq m for 12 years, while Norton Rose will occupy 5,100 square metres.

Mirvac said construction at Olderfleet is on schedule, with completion set for 2020.

The Grimshaw Architects-designed Olderfleet tower is targeting a 5 Star Green Star, 5 Star NABERS and platinum WELL certification.

Related: Mirvac Launches Build-to-Rent ‘Club’

WeWork leases six floors in Spencer Street

WeWork has committed to a 15-year lease at 120 Spencer Street.
WeWork has committed to a 15-year lease at 120 Spencer Street.


Meanwhile, global flexible working provider WeWork has announced it will lease six floors of office space at CBRE’s 120 Spencer Street in Melbourne.

Continuing its national expansion, WeWork’s Spencer Street location will be its second largest lease in Australia.

The building, owned by a CBRE Global Investors-sponsored fund, is a 23-storey office building opposite Melbourne’s busiest commuter train station, Southern Cross Railway Station.

WeWork will commit to about 8,600sq m over a 15-year lease.

“As we grow our presence in Melbourne, our Spencer Street location will offer companies of all scales a light-filled, collaborative and innovative work experience,” WeWork Australia and New Zealand head of real estate Jonathan Kearins said.

WeWork currently has nine locations open across Australia, with five more announced.

WeWork will open its 120 Spencer Street office in April 2019.

Related: WeWork Takes Out Entire Lease of Barangaroo Office Building

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Article originally posted at: https://theurbandeveloper.com/articles/mirvac-pads-out-tenant-list-at-olderfleet-