11 Chesterville Road, Cheltenham

Project Outcome

  • Delivered overarching strategic objective to extensively regenerate the asset and achieving a 5 Star NABERS Energy rating.
  • The building underwent an extensive refurbishment over an 8-month period to stabilise the asset for the long-term.
  • New leases were executed across 85% of the building delivering a WALE of 7.25 years.

Summary

  • StatusComplete
  • SectorOffice
  • Development Debt FundingPallas Capital
  • Acquisition DateDecember 2020
  • Building Size1,200Sqm
  • Land Area975sqm
  • ZoningCommercial 1
  • StrategyRegeneration & Long-Term Hold

Key project features:

  • 2 level office building offering a high car parking ratio, efficient floorplates and with a clear asset regeneration strategy.
  • Direct proximity Westfield Southland Shopping Centre.
    Prominent frontage with large, side core and flexible floorplates.

  • 950m from Southland Train Station.
  • Strategically located site within 1km of Stage 1 of the Melbourne Suburban Rail Loop, linking Cheltenham to Box Hill.
  • Strategy to extensively regenerate the asset via capital upgrades (aesthetic and base building services) to achieve a PCA A-Grade standard of offering and material NABERS Energy enhancements.

Key performance criteria and capital works:

  • PCA Rating: A-Grade standard.
  • NABERS: refurbished to achieved 5 Star NABERS Energy Rating.
  • Office frontage completely re
  • Office lobby complete upgrade including all new finishes, bespoke joinery, digital tenancy board and lighting.
  • Creation of End of Trip facility.
  • Amenities: Fully upgraded internal bathroom including to achieve DDA compliance.
  • Mechanical system: New base building air conditioning system.
  • Passenger lift: New high speed enlarged lift to achieve DDA compliance.
  • Electrical: base building services regenerated to enhance environmental performance. New switchboards and LED lighting throughout.
  • Security: building access control system installed along with new CCTV.
  • External spaces: Landscaping upgrades, full building re-paint, and a complete car park refurbishment.
    Brand new tenancy fitouts to suit workplace productivity and collaboration in a post-COVID workplace environment.