Vicinity secures Box Hill office pre-commitment
Vicinity Centres has pre-committed Hub Australia to a 25 level central Box Hill office.
The co-working giant will take 4100 square metres across four floors.
The initial lease term is 10 years.
Vicinity last May announced plans to build the 42,000 sqm office as part of a $2 billion revamp affecting 5.5 hectares around the Box Hill train station.
A 48 storey apartment building – the suburb’s tallest – is also planned as is c23,800 sqm of retail and a community space built around steps which will act as seating for events.
An education precinct is anticipated too.
“The increased demand for the ‘work near home, but not at home’ model has created opportunity to bring office and retail experiences together,” Vicinity’s chief executive officer Carolyn Viney said (story continues below).
“By including co-working facilities within our retail precincts, we can take advantage of existing transport links, on-site parking and easy access to all the consumer amenity our centres offer, creating an amazing experience where business and employees can thrive together,” she added.
Vicinity is expecting its redevelopment to accommodate about 6000 workers and 3800 residents.
The Hub deal comes three weeks since China’s largest shared office business UCommune, with 1.16 million worldwide clients, committed to 1100 sqm at Hexa’s 31 level mixed-use Panorama building, which is nearing completion around the corner.
That rental agreement is for an initial five years.
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