Understanding the Project

TIMELINE
'06

Initiation

In April 2006, Equiset was the successful bidder in response to a request for a Proposal issued by Jones Lang LaSalle on behalf on National Foods for the consolidation of their office requirements into 12,000m2 of purpose built office space.

A key element of Equiset’s bid was the ability to provide several options for National Foods to evaluate what would best suit their needs.

Concept Development

Equiset and F2 worked closely with VicUrban to ensure the design outcomes envisaged for the site exceeded expectations. This involved a detailed process of review and consultation. The agreement included the goal of achieving an Award of Merit under the Melbourne Docklands ESD Guide. 

F2 Architecture created a simple, elegant contemporary design that responded to the adjacent buildings and the unique nature of a triangular island site.

Financial Close

Reaching financial close involved complex negotiations with the three key stakeholders – the tenant, the landowner and the bank

  • The Heads of Agreement with major tenant National Foods was signed in August 2006 following months of negotiations.
  • The agreement for least with major tenants National Foods was signed in December 2006
  • The Development Agreement with landowner VicUrban was signed in December 2006.
  • Financial Close was achieved with the ANZ in December 2006 

 

'07

Delivery

Equiset’s construction arm commenced the project in January 2007.

The entire development, including interior fitout for the major tenant, was completed in December 2008.

When National Foods moved in during November 2008, they took possession of a building that featured a number of ESD initiatives. 

737 Bourke St achieved a 4-star Green Star design rating and 4-star NABER’s rating with key features being:

  • water efficient fittings and fixtures
  • solar hot water contribution
  • monitoring of CO2
  • high-frequency electronic ballasts in light fittings
  • pipe infrastructure for blackwater systems
Features 
  • Environmentally Sustainable Design (ESD): 4-star Green Star office design
  • Easy access to public transport
  • Bourke Street address
  • Docklands location
  • A space that encourages teamwork, collaboration and promotes communication
  • Contemporary elegant design

Statistics 

  • Total floor space of approximately 18,500m2 NLA
  • 17,000m2 office space
  • 1,500m2 retail space
  • Two-level podium car park with 231 car spaces
  • Office floor plates of 2,088m2
  • Project value approximately $100 millio

Project Milestones

  • Construction commenced January 2007
  • Construction completed December 2008 
'08

Maintain

Equiset retained an active role in the management and upkeep of the building for just under two years following the completion in 2008. 

Equiset employed a full-time building manager who was supported by security and cleaning contractors.

'10

Asset Transfer

Equiset placed 737 Bourke Street on the market for sale in mid 2010 and the finalisation of the sale followed later in 2010. 

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737 Bourke Street

National Foods Corporate Headquarters, Docklands Melbourne

Equiset was the owner, developer, builder and manager of the new 12-level corporate headquarters for National Foods, located in Melbourne’s Docklands.

The building incorporates design features that meet the challenges of evolving workplaces to provide state-of-the-art commercial offices.

The development enabled National Foods to consolidate their office functions into one location, bringing together over 600 employees.

The ground level accommodates a foyer fronting Bourke Street, with other amenities including cafes, restaurants and other retail planned directly adjacent in Village Street.

The top two levels are occupied by EBS, a subsidiary of Jemena, as an IT centre for their operations.

With its associated retail amenities, convenient parking, close proximity to public transport, parkland, water and CBD connections, 737 Bourke Street presents a unique opportunity for progressive business operators, both commercial and retail.