Understanding the Project

TIMELINE
'05

Initiation

In December 2005 Equiset was part of a joint venture with exclusive rights to the redevelopment of Goods Shed North.

Concept Development

The Exclusive Rights Agreement with VicUrban (the Melbourne Docklands development authority) required finalisation of a Development Agreement. The agreement included the goal of achieving an Award of Merit under the Melbourne Docklands ESD Guide.

Equiset then constructed a display suite to seek expressions of interest from commercial tenants.

Formal proposals were sent to prospective tenants over a two-year period.

'07

Financial Close

In mid 2007, VicUrban emerged as a prospective major tenant in conjunction with another “mystery tenant”. The mystery tenant was later revealed to be the Building Commission and Plumbing Industry Commission.

VicUrban focused on the environmental aspects of their future accommodation with a  5 star GreenStar rating targeted  as the benchmarked outcome

Equiset signed the Development Agreement with VicUrban in January 2008. A key element to the Development Agreement was the requirement to covert the shed into a retail space in 10-15 years.  

In April 2008, VicUrban, the Building Commission and the Plumbing Industry Commission signed an Agreement for Lease.

They agreed to a 10% premium on rent in exchange for Equiset delivering the 5-star Green Star rating.

The Financial Close was achieved in April 2008.

'08

Delivery

Delivery

Equiset began construction in May 2008. VicUrban commenced occupancy in November 2009 and the Building Commission and Plumbing Industry Commissions commenced occupation in December 2009

Overall Practical Completion, including interior fit-outs for the major tenants, was achieved in April 2010.

The project featured a number of ESD initiatives including:

  • tri-generation plant
  • underfloor displacement system
  • active chilled beam system
  • rainwater collection

The building achieved a 5-star Green Star design rating whilst maintaining its heritage value and increasing its usable floor space.

Good Shed North was the first building in Victoria to achieve this.

Features

  • Access to public transport
  • Vast central galleria with 12 metre ceilings
  • Collins Street and Bourke Street frontages
  • Flexible, contemporary floor spaces over one or two levels
  • Heritage building envelope combined with new 4-level glazed ‘lantern building’
  • Environmentally Sustainable Design (ESD)
  • Upgraded Village Street features alfresco dining

ESD Features

  • 5-star Green Star Office Design certified rating
  • 5 Star + 20% CO2 reduction ABGR rating (Design Rating)
  • Active chilled beam / displacement HVAC system
  • Gas fired tri-generation plant
  • Rainwater harvesting and re-use
  • Absorption chiller
  • Peak energy demand reduction
  • 80% of construction waste reused or recycled
  • Occupant amenity potable water efficiency
  • Recycled content of concrete - 20%
  • PVC minimisation of over 60%
  • Refrigerant leak detection and recovery
  • Integrated fit outs for commercial tenants are registered for a Green Star rating
  • Bicycle storage, shower and change facilities 

Statistics

  • Total site area 8,600m2
  • 9,687m2 office space
  • 1,735m2 retail space
  • Project value $63 million
  • Employee population 600

Project program/milestones

  • Construction commenced April 2008
  • Construction completed March 2010
  • API 2010 Excellence in Property Awards
  • Opteon Property Group Heritage Property Award
  • API 2010 Excellence in Property Awards
  • Investa Environmental Development Award
'10

Maintain

Equiset retains an active role in the management and upkeep of the building to the highest standards.

Equiset has a full-time building manager who is supported by security and cleaning contractors.

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Goods Shed North

Goods Shed North is a heritage-listed former railway shed in the Batman’s Hill precinct of Melbourne Docklands.

Equiset undertook the AU$63 million development as owner, developer and builder. Equiset’s architects Elenberg Fraser and BVN drew on the building’s rich industrial past to create an innovative, contemporary, office space that exudes character. Meanwhile the building’s historical exterior has been restored to its original grandeur.

In November 2011, the Goods Shed North was awarded a 5 Star Green Star - Office As Built v2 certified rating from the Green Building Council of Australia which represents "Australian Excellence" in environmentally sustainable design.

The magnificent structure, with its soaring ceilings and lofty spaces has become Melbourne’s most exciting and creative new workplace. Located in one of the city’s most sought-after locations, with frontages onto both Collins Street and Bourke Street, the Goods Shed is a short walk from the heart of the CBD and Southern Cross Station.

The building is occupied by state government agencies VicUrban, the Building Commission and the Plumbing Industry Commission.