The ARC will either buy, or lease, a new or existing building with about 9000 square metres of A-grade office space, and 2000 square metres of warehouse space. It has flagged Docklands, North Melbourne or Carlton as possible locations for its Melbourne headquarters.
If it cannot find a new building, the ARC will buy or lease a new or existing 6000 square metre building, within close proximity to its Villiers Street headquarters in North Melbourne.
“The national office is split across two locations in Victoria alone, and due to space and suitability restrictions, they are looking at other options,” said CB Richard Ellis senior manager Sally Henderson who is managing the requirement.
Regardless of which option the ARC exercises, it is likely to relocate staff and sell its Pelham Street Carlton premises. Local sources say this property, in a prime location close to Melbourne University, could fetch more than $4 million.
In 2000, ARC sold its Balston Street Southbank headquarters to developer Central Equity in a deal worth $20 million. Most of the site has since been redeveloped into high rise apartments.
In early 2001, it bought the former NCR headquarters in Villiers Street for $7.1 million. This site is also expected to be sold should the ARC relocate.