New concept in creative workspaces set to hit Melbourne office market
MAB Corporation and Colliers International prepare to launch Escala NewQuay
Melbourne, November, 21st 2018 – MAB Corporation is set to launch a new creative, flexible workspace concept to the Melbourne office market.
Developed by MAB, Escala NewQuay will comprise 1,650sqm of unique commercial space with 1,260sqm of office space over three levels and complemented by 420sqm of retail space on the ground floor. Office space will range from 60sqm to 450sqm for a whole floor, while retail spaces range from 70sqm to 150sqm.
Designed by award winning local architects Six Degrees, Escala NewQuay has an eye-catching warehouse brick design anchored by a north-facing public piazza with a ground floor food and beveridge offering.
MAB has appointed Colliers International’s Chris Ling, Anthony Kirwan and Martin Leong to market the space. Mr Ling said Escala workspaces would offer a serious point of difference for SME’s using vertical scale as the driving concept.
“The imminent launch of Escala NewQuay in Docklands is a unique offering of commercial spaces featuring 5.15m ceilings and soaring arch windows, creating light-filled spaces that boast enormous flexibility,” Mr Ling said.
Stefan Miles, MAB Development Manager Commercial said purchasers of Escala workspaces would acquire an investment that would continue to deliver value over time.
“The buildings’ stunning external appearance and expansive ceilings are unlikely to be replicated in competing buildings ensuring continued interest beyond the first occupancy,” he said. “Couple this with the added benefit of nominated mezzanine zones provides an ability for owners to increase floor area and respond to business tenancy demand. MAB estimates yields between 7 – 7.5% are possible for enterprising landlords who wish to optimise the floor space.”
Mr Kirwan said Escala workspaces were designed for a range of businesses and the black collar office market including designers, and creative enterprises.
“The workspaces are easy to customise and will allow SME’s to bring their own personality to each space as well as preserving capacity for expansion as the needs of business change over time,” he said.
“Occupants will benefit from a business centre with board room facilities on the ground floor as well as access to exceptional corporate health and wellbeing facilities as a unique point of difference. This includes on-site end of trip facilities including secure bicycle parking with lockers, showers and change room facilities.”
Escala NewQuay, estimated to be completed in late 2020, will sit alongside a residential tower which also boasts mezzanines in a range of unique loft apartment designs. These innovative loft apartments with double height living spaces have been in high demand, allowing MAB to sell over 65% of the building in six months, despite a tightening residential market.
Lifestyle facilities will be shared between both buildings and include a rooftop garden with outdoor eating spaces, gym, heated indoor swimming pool and spa.
“Situated in the heart of the NewQuay commericial precinct in Docklands, the CBD is on your doorstep in this location,” Mr Ling said. “Escala is conveniently accessed via Melbourne’s arterial roads, extensive bike paths, public transport including the free tram zone (along the 35, 70, 75 and 86 tram routes); and is a short walk from Southern Cross train station.
The benefits of NewQuay for lifestyle-oriented SMEs continue to grow, with the future Docklands Primary School and the expanding shopping and entertainment precinct of The District Docklands shopping centre. Opening in 2019 at The District Docklands is The Market, an internationally-inspired marketplace, boasting twenty-five specialty retailers and a full-line Woolworths supermarket complemented by Dan Murphy’s, a large scale Asian Grocer and a Medical Centre.
About Colliers International
Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIG) is an industry leading global real estate services company with more than 16,000 skilled professionals operating in 66 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 11 consecutive years, more than any other real estate services firm.
Founded in Australia in 1976, Colliers International is the largest locally formed real estate services firm with professionals worldwide. Find out more at http://www.colliers.com.au/
For the latest news from Colliers International, visit: Australia – colliers.com.au/news │ International – colliers.com/news, follow us on Twitter: Australia – @ColliersIntAust │ International – @ColliersIntl, or visit us on LinkedIn: Australia or International.
About MAB Corporation and NewQuay
MAB Corporation (MAB) is a privately owned property development company that has been successfully operating since 1995.
Established and owned by fifth generation Melbourne property identities, Michael and Andrew Buxton, MAB has activities in residential, retail, business parks and commercial developments, as well as an investment management business. By daring to imagine such visionary projects as NewQuay-Docklands, University Hill, and Merrifield MAB is playing a significant role in reshaping the environments in which we live, work and play.
NewQuay offers the best of Melbourne: waterfront restaurants, business hubs, major transport links and spectacular views of the city. In 1999, MAB Corporation founders, Michael and Andrew Buxton, boldly imagined something remarkable for Melbourne. Their vision was to transform Melbourne’s disused and desolate harbour frontage into a sophisticated waterfront precinct of a world-class standard.
NewQuay is now a spectacular reality, truly warranting the $2.5 billion invested to date: a thriving waterfront precinct that continues to evolve, true to its 24-hour vision.