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Viva Energy Signs Up For 720 Bourke Street

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Viva Energy, formerly known as Shell Australia, is set to move from Hawthorn to Melbourne CBD after committing to one and a half floors at Cbus Property’s 720 Bourke Street in Docklands.

Viva Energy will occupy approximately 4,400 square meters over the top two floors of 720 Bourke Street, after the deal was negotiated by Colliers International’s Andrew Beasley and Ben Christie.

Viva Energy is the first major signing at this Cbus Property since the completion of its construction in July.

Mr Beasley said Viva was making the most favourable market conditions to relocate from Hawthorn to Melbourne CBD.

“One of the significant drivers of leasing activity in the Melbourne CBD in 2014 has been the migration of metropolitan tenants back to the CBD,” he said.

“Viva was attracted to the central location, easy access to the freeway, the proximity to public transport – particularly Southern Cross train station – and the quality of the building. With large efficient floor plates of approximately 2,800 square meters and strong green credentials, 720 Bourke Street ticked all the boxes.”

Terry Dohnt from CBRE’s Global Services team

and Paul Grgurich, Senior Executive will be coordinating the Viva Energy’s relocation.

720 Bourke Street is targeting a six green star and five-star NABERS rating, and features a unique green façade which  will be watered by sophisticated irrigation systems and provide occupants within the building with extra shade and a leafy outlook.

Mr Christie said 720 Bourke Street continued to generate solid interest.

“Tenant feedback on inspections since the building achieved completion has been overwhelmingly positive. The views and natural light from the high rise floors are breathtaking,” he said.

“We have had very strong interest on the balance of the building, and are confident of leasing the remaining 12,500 square metres by the end of the year, with several parties in progressed negotiations.”

Medibank anchored 30,000 square meter of Cbus’ 720 Bourke Street development in 2010 with a pre-commitment.

The leasing terms for the Viva deal are understood to be in accordance with asking rents and market incentives in the Melbourne CBD.

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Article originally posted at: https://theurbandeveloper.com/articles/viva-energy-signs-up-for-720-bourke-street