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Goodman secures third pre-committed development at Ferntree Business Park

Friday, 03 August 2012

Goodman Group (Goodman or Group) is pleased to announce the development of a pre- committed 6,655 sqm high-tech commercial development for Draeger Medical Australia and Draeger Safety Pacific (Draeger), at Ferntree Business Park in Notting Hill, Victoria. Goodman has secured commitments on 20,590 sqm of new space at the estate over the last twelve months, establishing it as a premium business park destination in suburban Melbourne.

The new lease to Draeger is the third major pre-commitment for Goodman at Ferntree Business Park and will enable the leading international supplier of medical and safety technology to consolidate its medical and safety divisions into a single purpose built facility.

Goodman is utilising its experience in adaptive reuse projects, to convert a manufacturing warehouse originally constructed in the 1970s, into a modern 6,655 sqm high-tech commercial facility. The new facility will comprise 3,185 sqm of office space, 1,275 sqm of service area, a 2,195 sqm warehouse and a three level multi-deck car park.

Jason Little, Goodman General Manager Australia, commented “This latest development for Draeger is further evidence of how Goodman is creating value by recycling existing assets into higher and better use facilities. Until recently, Ferntree Business Park was dominated by older style industrial buildings however this recent activity will transform it into a modern campus-style business park.”

Andrew Hawke Managing Director, Draeger said “We are pleased to be working collaboratively with Goodman to deliver our new facility. Goodman has been very responsive to our evolving requirements and by redeveloping an existing building we will be able to achieve our tight timeframes for relocating. Ferntree Business Park is an ideal location for our business and we look forward to consolidating our business divisions there in 2013.”

The transaction follows pre-commitments for Schneider Electric (Australia) Pty Ltd and Olympus Australia Pty Ltd, for Buildings B and C, comprising approx. 8,015 sqm and 5,920 sqm respectively.

Buildings B and C at Ferntree Business Park were designed jointly by architects Gray Puksand and Watson Young with the aim of setting a new standard for suburban commercial office space, and will target a minimum 4 star Green Star As Built and 4.5 star NABERS Energy ratings.  Both buildings are currently under construction, and are expected to be completed in the second quarter of 2013.

Ferntree Business Park, which is owned by Goodman Australia Industrial Fund (GAIF), will be developed by Goodman Group over the medium-term to create a master-planned business park comprising more than 40,000 sqm of modern commercial office space, with a key focus on environmental sustainability incorporated into its design and construction.