Victoria Lists Ballarat GovHub for Sale
- By Peter Gordon
- •
- 28 Aug, 2019
Ballarat has been on our radar for some time now, and we already have clients in the construction phase of their investment houses. With the surge of infrastructure projects and affordable living options compared to Melbourne , this has created a great opportunity for homeowners and investors alike to purchase in Ballarat. The article below talks about one of the major employment strategies that the Govt is planning to make Ballarat even more appealing to families looking to relocate.
The Victorian government’s development arm has listed the Ballarat GovHub in a deal that will eventually see the new public service building leased back to the state.
The $100 million construction project currently under way is one of the Andrews government’s key planks at reviving the Ballarat CBD and boosting decentralisation of the government workforce by placing 1,000 jobs in the multi-storey building adjoining the Civic Hall.
The Andrews government has provided an additional $47 million in funding to support the shift of 600 public service jobs from Melbourne into the new complex.
The sale of the new building — led by Development Victoria in partnership with Regional Development Victoria, the Department of Premier and Cabinet and Ballarat City Council — could return close to $115 million for the state consortium.
Plans to sell the Civic Hall site — which is situated on crown land — and then re-lease it comes after a subdivision was granted in March to separate Civic Hall land from the GovHub portion by the Office of Surveyor General Victoria.
The GovHub design includes an active ground floor space, incorporating the bricks and masonry theme of the Civic Hall precinct and a reconstructed lower hall space for multi-purpose use, a glass conservatory linking the Civic Hall to the GovHub.
The five-storey project will have four upper levels of office space comprising 10,843sq m of office net lettable area.
The John Wardle-designed development, located 300m to Ballarat Central train station, will also have two levels of basement with about 212 car parking spaces and modern end-of-trip facilities.
The project is being built by Kane Nicholson along with engineering consultants AECOM using mass timber.
Agents from CBRE and Cushman and Wakefield will manage the sale process but would not give a timeline on the sale, claiming protection of commercial-in-confidence and giving equal opportunity for all prospective buyers.
Construction of the Ballarat GovHub is earmarked for completion by the end of 2020. Once complete the Victorian Government will enter into 20 long-term lease arrangement with the eventual owner of the GovHub.
Article courtesy The Urban Developer 22/8/19
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