$20m upgrade for TAC HQ targets working parents, access, inclusion
The property's owner, listed $20B real estate funds manager Centuria Capital Group, plans to refurbish the 60 Brougham St building, delivering a suite of new facilities to encourage people into the office, improve its environmental credentials and hopefully win a new lease after 2029.
The additions include a gymnasium with an indoor sauna, a cold recovery room and multipurpose room for pilates or yoga; and end-of-trip facilities such as showers, 180 lockers and parking for 80 bicycles.
Gender-neutral toilets, a multi-faith room for reflection or prayer, multiple parents rooms with private spaces including microwaves, changing areas, wet areas and various forms of seating are designed to foster inclusion, while the school zone will be fitted with televisions, reading areas and desks.
The refurbishment will upgrade the 16-year-old facade by removing panel cladding and coloured boxes around windows; install a new entrance lobby, upgrade bathroom facilities on each floor, including new dedicating facilities for people with a disability; and add a ground floor business hub and meeting areas.
The dormant Corio St retail precinct will have new landscaping, seating and decking, while community gardens and event spaces will maximise other outdoor spaces, including barbecue facilities on the refreshed level five balcony.
Head of funds management Jesse Curtis said Centuria wants to make the building 'best in class' and bring 'Park Hyatt luxury to Geelong', with full electrification and targeting a minimum 5.5-star NABERS rating, a 6-star Green Star rating and a WELL Gold rating.
'We've had numerous examples where we've been able to refurbish buildings and retain tenants, and they've been extremely happy and occupied our buildings for a very long period of time,' Mr Curtis said.
The upgrade was planned for the past five years ago, but was delayed by Covid, he said.
The refurbishment comes as the TAC considers its next building lease in Geelong when its current lease expires in 2029.
While remaining at 60 Brougham St is one option, there's still competition including from approved multistorey office projects within Geelong's CBD.
Centuria has a $7B office portfolio across Australia and New Zealand, which focuses on suburban and campus-style buildings, such as the TAC headquarters.
The new spaces at TAC are part of a reworking of the building's floorplates to improve efficiency.
'What we've seen across our portfolio – this is probably more general than specific to TAC – is people's use of space is changing,' Mr Curtis said.
'People aren't necessarily taking less space, they're just changing the way they use the space.
'So where we can create a one-stop shop, where you have a gym and different outdoor areas, communal spaces and the ability to collaborate in different ways, or bring that family and home life to be a little more flexible, we're starting to change the way we use our buildings right across our portfolio.'
The project is still in planning phase, but work is expected to start in the second half of 2025.
'We're anticipating minimum disruption to our occupied during that period.'
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