Beck, Fox unveil Essendon office
Max Beck and Lindsay Fox will develop another Essendon Fields office.
The seven level, 7500 square metre investment at 9 English Street, at the north east corner of Nomad Road, will sit between Hyatt Place and Linfox’s headquarters.
Its end value is $45 million.
The proposal contains health and wellness initiatives, Essendon Fields chief executive officer Brendan Pihan said, like more lifts to allow social distancing while minimising wait times, wide stairwells, contactless entry and finer air conditioning filters.
The floorplates will be above average (1274 sqm).
It will be surrounded by landscaped gardens.
CBRE’s Anthony Park and Gianni Macdonald with Joshua Tebb and Tim Sugar are the agents.
Year of development, leasing
Essendon Fields has earmarked another 1900 sqm of workspace at the recently refurbished heritage-protected airport terminal.
Last year the landlord pre-committed Bombardier for 15 years to a $25m, 4700 sqm facility with a jet service centre, lounge and meeting room (story continues below).
It also secured Verifone to part of the Beaufort Building, which faces Matthews Avenue.
In August, Serco sub-let 6296 sqm at 15 Vaughan St from The Good Guys.
Twelve months earlier, Essendon Fields unveiled an 18,000 sqm office which would be developed in two stages in Larkin Boulevard.
Mr Beck and Mr Fox acquired a leasehold over Essendon Airport, which is making way for Essendon Fields, 20 years ago.
Essendon Fields and the bottom line
Mr Pihan said Essendon Fields’ office rents and outgoings are half that of the Melbourne CBD.
“On a 3000 sqm space that’s a saving of over a million dollars in gross rental just in the first year,” he added.
Given the property abuts three freeways, a million Melburnians live within a 15 minute drive, according to the executive.
More than half (2.6 million or 56 per cent) are within a half hour commute, he said.
