80
Collins BANK OF MELBOURNE AUGUST 2013
c o LLINS & e x H I B ITION i s t R A NS F O R M E D
COLLINS & EXHIBITION TRANSFORMED
80 Collins marks a landmark corner of Melbourne’s CBD, the intersection of Collins & Exhibition Streets.
In line with the Development Approval, QIC intends to construct an iconic commercial office tower and fully integrated retail offering fronting Collins Street, Exhibition Street and Little Collins Street.
Collins Street is steeped in tradition and home to some of the countries finest Victorian architecture, international fashion houses, bars, dining & entertainment.
The new office tower floor plates vary from 1,280sqm in the mid rise to 1,351sqm in the high rise.
By contrast, Exhibition Street is the commercial hub of the city, its skyscrapers are home to Australia’s leading financial, legal and technology institutions. Surrounding this is the city’s cultural heart, the Melbourne laneways that provide endless discovery for locals and tourists alike. 80 Collins is where these two worlds meet, blend and coexist. More than a stunning architectural addition to the cityscape, 80 Collins is set to become a truly mixed use place - for workers, visitors & guests to enjoy a true Melbourne experience.
The existing commercial tower recently underwent a major refurbishment and will be integrated into the new precinct through the activation of laneway retail. The total retail NLA is approximately 5,500sqm and will include a variety of restaurant offers, casual dining, grab and go food, service retail and fashion and potentially a Bank of Melbourne retail branch.
NOT JUST ANOTHER TOWER
80 Collins isn’t just another office tower, just like Bank of Melbourne isn’t just another bank. Melbourne deserves a new office building that is tailored to the future needs of the city. The existing towers are mostly over 20 years old, and the current towers are efficient but lack the right configuration to support the next generation of collaborative working practices. The Bank of Melbourne requires 6,000 – 7,000 of contiguous space. Conventional central core buildings typically do not provide contiguous space. For example, a 2,000 sqm central core floor plate actually provides only around 700 – 800 sqm of contiguous horizontal space, and stairs only provide vertical access on one side of the floor. 80 Collins Street has been specifically designed with the core at one end to create up to 1,350 sqm of contiguous space horizontally. The specially designed 3 floor winter gardens and integrated stair creates over 4,000 sqm of vertically connected space.
This concept is relatively new but becoming more common with developments recently built including 122 Leadenhall in London and 8 Chifley Square in Sydney using this approach.
HOW THE 21ST CENTURY OFFICE OPERATES
The floorplate has become one of the most important aspects of choosing the right building as the workspace becomes more important to business performance. The advent of mobile technology and changing management styles and cultures has made collaboration in the workplace much more important. Office building configurations have potentially changed forever, away from central core towers that block horizontal connectivity towards forms that encourage interaction.
The Bank of Melbourne will gain competitive advantage from choosing the right building that is aligned with the Corporate Values _ One Team – create a sense of one team through highly connected space both vertically and horizontally. _ Delighting Customers – allowing customers to glimpse the workplace and see the connectedness and customer focus. _ Achievement – embrace the future work styles to be the best in everything you do.
_ Integrity – a workspace that is not just a new fit-out in an out dated building configuration but one that is designed from the outset to support the information age. _ Valuing each other – the ability to move around and engage in informal collaborations to encourage and support the unique culture.
Central core floorplate
80 Collins floorplate
Central core towers block horizontal connectivity towards forms that encourage interaction.
A modern floorplate should help to create a sense of one team through highly connected space both vertically and horizontally.
Core
TEAM
TEAM
Core
TEAM
TEAM
One TEAM
THREE LEVEL VERTICAL VILLAGE
The 80 Collins Street floorplate has been designed with the beginning for the future tenant in mind. The 1,350 sqm end-core floorplates linked by winter-gardens and stairs to create 4,000 sqm vertical villages provide highly effective collaborative workspace. They are also highly efficient with a tenant efficiency score of over 90% making it one of the most efficient floorplates in the country.
The floorplates will benefit Bank of Melbourne’s business performance by _ Providing an ideal sense of space for individual and team work with linked floors for larger organisational groups.
_ Flexibility to accommodate groups that are constantly expanding, reducing and reforming with minimal cost.
_ Providing the right type of efficient space to support the new owned and shared workspace fit-outs.
_ Efficiency of space use by maximising the use of support spaces per person and allowing highly efficient modular arrangements of offices and furniture.
_ Physically collocating more people that need to interact, especially for encouraging informal meetings and chance encounters. _ Assisting in removing the ‘silos’ within the bank and encouraging ‘customer-centric’ thinking. _ Providing lines of sight that encourages information to move quickly.
_ Exciting client space opportunities at either the top or bottom of the building.
Serendipity by design
Vertical village concept
_ Destinations and paths that increase the bump factor or chance encounters. _ Serendipity by design that touches and engages all staff, supporting a network centric organisation. _ Building designed to bring people together multiple times throughout the day to facilitate interaction. Whilst team environments support high performance teams and shared team spaces enable cross collaboration, we do not know what we do not know, making chance encounters that lead to ideas never thought of before and connections that organisations would otherwise never have focused on, even more powerful. Organisations use stairs and shared meeting and eating spaces to encourage those chance encounters. Only few buildings (mostly from organisations of the creative and media industries) are specifically designed around serendipitous interactions – encouraging people to meander through the space to meet new people and think outside the box, or creating a multitude of interesting destinations that bring people from across the organisation together.
“If a building doesn’t encourage collaboration, you’ll lose a lot of innovation and the magic that’s sparked by serendipity. So we designed the building to make people get out of their offices and mingle in the central atrium with people they might not otherwise see.” – Steve Jobs about Pixar’s HQ
ESSENTIAL OFFICE ATTRIBUTES
GOOD NATURAL LIGHT Natural light and aspect are critical to people and to creating an ideal working environment. 80 Collins Street balances the depth of space and the views and daylight to ensure over 75% of the space is within 15m of the perimeter and provides a sense of teamwork and openness at the same time. Having good access to natural light generates: _ Quality work environments beneficial to human health and productivity. _ Quality social environments for human interaction, _ Quality ESD outcomes including the reduction of running costs.
Penetration of natural daylight throughout floorplate
Local shopping, food offering and other amenity for enhanced staff experience The 80 Collins street precinct will provide a much needed addition to the top end of Collins Street. The people who will work in the tower will value the proximity and quality of the retail as well as the food and beverage amenity provided. Productivity will be enhanced due to the proximity and access to high quality providers that will take retail to a new level in the city. QIC is investing heavily in its retail space around the country and 80 Collins Street will be a flagship for its enhanced retail experience.
Depth of space 76.5% Useful: (250 lux - 2000+ lux) 76.9% Dim: (250 lux or less) 23.5%
Health and well being will also be important, and we are designing into the precinct large numbers of bike parks, locker and towel services to ensure a premium offer to staff.
LOBBY MEETING AREAS AND CAFE The office tower will have its own lobby on Collins Street that will give a unique branding experience. CafĂŠs and other food and beverage amenity will be a key part of the precinct redevelopment, which in effect creates informal meeting and collaboration spaces for all to utilize. In addition, we are investigating new workplace amenities such as shared services, hub spaces and co-working opportunities that will provide tenants with access to flexible spaces when required.
End of trip facilities 80 Collins is geared to cater for healthy lifestyles providing high quality change facilities including showers, towel service and lockers, as well as secure storage for bicycles and equipment. A total of 29 showers, 144 lockers and 328 bike racks are provided.
ESSENTIAL OFFICE ATTRIBUTES
5 STAR NABERS The building is designed to achieve a GBCA 6 Star Green Star rating and a 5 Star NABERS rating.
MODERN BASE BUILDING MECHANICAL ELECTRICAL AND FACILITIES ESSENTIAL The new office tower has been designed to meet Premium Grade standard. The existing office tower services achieves PCA A grade standard.
SKY SIGNAGE Sky signage is available. Further signage at lower levels is also possible. Naming rights would be subject to further discussion.
ENERGY EFFICIENT & ENVIRONMENTALLY PROGRESSIVE QIC’s environmentally progressive management and active energy efficiency standards is exemplified by the environmental performance of the existing 40 year old building which achieves a 4.5 star NABERS rating. For the new office tower, design targets a GBCA 6 Star Green Star rating and a 5 Star NABERS rating.
FORWARD THINKING BUILDING MANAGEMENT QIC maintains strategic control of our properties by performing key functions in-house, including asset management, leasing, finance and development. Non-strategic functions such as design, project management and construction are out-sourced. In relation to on-site building management QIC engages the services of property management industry professionals including Colliers, Savills and Jones Lang LaSalle. These property management firms are actively managed by a large internal commercial asset management team lead by five long term employees with over 118 years of experience. QIC prides itself on the performance of its commercial office portfolio that continues to outperform largely due to the satisfaction of its clients - our tenants.
ESSENTIAL LEASE TERMS
LEASE TERMS 5 to 10 years with options out to 2035
OWNER & MANAGEMENT STRUCTURE
QIC can provide flexibility that could include a variety of lease terms and option periods.
QIC’s current intentions are to develop and hold 80 Collins Street within an existing fund.
AVAILABILITY DATE
BANK OF MELBOURNE RETAIL OUTLET
The current programme is structured to enable early access for integrated fit-out before December 2015.
LEASE COMMENCEMENT DATE The current programme targets mid 2016 completion.
NEW OR REFURBISHED QIC can provide flexible options that include office accommodation in the new or existing tower.
Whilst not specifically requested, opportunity exists to incorporate a prominent Bank of Melbourne retail outlet along Exhibition Street. This will have a strong presence and identity and be highly visible from Collins Street and along Exhibition Street.
80 Collins podium restaurant will overlook a bustling Collins St and have stunning views of the city.
ABOUT QIC
QIC is a leading provider of dynamic investment solutions for sovereign wealth funds, superannuation funds and other institutional investors. Established in 1991 by the Queensland Government to manage its long-term investments, we have grown to be the third largest institutional investment manager in Australia, with more than 90 local and international clients and $70.3 billion (as at 30 June 2013) in funds under management. With a strong foundation in Australia, our global presence also extends to Asia, Europe and the United States. Our heritage as a government owned corporation has contributed to a culture that puts our clients first. We continually strive to find better ways to meet and exceed our clients’ investment objectives. Our unique history of managing the total investment portfolio for very large clients has enabled us to deliver innovative investment solutions, which few other fund managers have been able to do.
Global Real Es QIC Global Real Estate (QIC GRE) is a leading Australian real estate manager, which, over the last 20 years, has acquired and developed a significant portfolio of dominant regional shopping centres and commercial buildings. Our management team comprises property professionals with long-term track records who are committed, talented, experienced and disciplined.
This team has built a capability that ensures _ All strategic functions are conducted in-house _ A clear alignment of interest between our staff and client outcomes _ The portfolio is in the best position to outperform its benchmarks, which it has done regularly over the long term.
PROJECT DESIGN TEAM
Architect:
Woods Bagot
Structural Engineer:
AECOM
Faรงade Engineer:
ARUP
Services Engineer:
AECOM
Environmental Consultant:
WSP Built Ecology
Building Surveyor:
Phillip Chun
Landscape Architect:
Tract
Project Manager:
RCP
Quantity Surveyor:
Rider Levitt Bucknell
DISCLAIMER QIC Limited ACN 130 539123 (“QIC”) is a wholesale funds manager and its products and services are not directly available to retail investors. QIC is a company government owned corporation constituted under the Queensland Investment Corporation Act 1991 (Qld). QIC is regulated by State Government legislation pertaining to government owned corporations in addition to the Corporations Act 2001 (“Corporations Act”). QIC does not hold an Australian financial services (“AFS”) licence and certain provisions (including the financial product disclosure provisions) of the Corporations Act do not apply to QIC. Please note however that some wholly owned subsidiaries of QIC have been issued with an AFS licence and are required to comply with the Corporations Act. QIC, its subsidiaries, associated entities, their directors, employees and representatives (“the QIC Parties”) do not warrant the accuracy
or completeness of the information contained in this document (“the Information”). To the extent permitted by law, the QIC Parties disclaim all responsibility and liability for any loss or damage of any nature whatsoever which may be suffered by any person directly or indirectly through relying on the Information, whether that loss or damage is caused by any fault or negligence of the QIC Parties or otherwise. The Information is not intended to constitute advice and persons should seek professional advice before relying on the Information. Copyright QIC Limited, Australia 2010. All rights are reserved. Do not copy, disseminate or use, except in accordance with the prior written consent of QIC.