Developer the Willemsen Group has signed a multi-million-dollar long-term lease with the Commonwealth Department of Finance for a new office building in Canberra near Parliament House, The Australian has reported.
The announcement comes as renewed interest in Canberra’s office market is driving a busy year of sales.
The A-grade 24,065sq m building, known as One Canberra, is at the corner of National Circuit and Canberra Avenue, 500m from the Parliament House. It consists of five levels of flexible floor plates varying from 2200sq m-5000sq m with the leasing deal brokered by Raine & Horne Commercial. The lease amount is under confidentiality agreement and cost cannot be named, but the cost is understood to be in the multi-million dollar range, according to The Australian.
Source: Willemsen Group
The Australian Financial Review said the agreement was negotiated by Angus Raine, executive chairman Raine & Horne Commercial and was a drawn-out transaction three years in the making.
"It is one of the very few Commonwealth deals of this magnitude finalised over the past three years," he said to The AFR.
"To take up the lease, the department was also moving out of office space it owned. This issue needed to be worked through very carefully and delicately."Separately, the Department of Finance is also going through a process to divest four major government-owned office buildings in Canberra. About $4 million was set aside last year to carry out the sales, according to The AFR.
About One Canberra
Endowed with the signature address One Canberra is located less than 500 metres from Parliament House on the intersection of Canberra Avenue and National Circuit in Forrest.
Our design practice has conceived striking, innovative and exceptional quality building which addresses the national significance of the site and its public nature.
Source: Willemsen GroupOne Canberra will provide a total of 24,000 square metres (NLA approximately) of office space over five levels on flexible floor plates varying from 2200 square metres to 5,000 square metres.
The active heart of the building is a 1,000 Sq.m, 5 storey central atrium which provides access across the building and between floors via generous aerial bridges and helical stair.
Three basement levels provide ample parking for almost 500 cars, loading dock access, showers, bicycle parking and over 700 Sq.m of tenant storage.
Energy efficiency is a key design criteria with the latest passive and active energy efficiency systems employed to achieve the overall lowest energy consumption whilst providing class leading occupant comfort. To supplement this the building will be have one of cities largest private solar generation array’s providing up to 200kw or renewable energy to power base building services.
The building has been designed and is independently modelled to achieve a 5 star NABERS rating independent of solar generation.
Source: Willemsen GroupConsiderable effort and analysis has been put into the design of each floor plate to maximise functionality and the penetration of natural light. The result is flexible and efficiency floor plates of up to 5,000 square meters in size with more than 90% core to non-core office space*.
One Canberra will be a landmark development, and has been designed and specified to a level commensurate with the significance of the location and requirements of Commonwealth Departments and major organisations who deal directly with ACT and Commonwealth Government.
The building is under construction and is scheduled for practical completion in October 2014.
Key facts and features
Source: Willemsen Group
Source: Willemsen GroupKey Benefits of Floor Plate Design