Boutique development and construction firm <a href="https://www.apartments.com.au/developers/hsn-property-group">HSN Property Group</a> is the latest to seek a new apartment development through the NSW Government's&nbsp;Housing Delivery Authority.

They've filed a State Significant Development Application for a nine-storey building across nine consolidated lots on <a href="https://www.apartments.com.au/new-apartments/2-16-spencer-street-rose-bay-nsw-2029">Rose Bay's Spencer Street</a>, just 400m from the centre of the affluent suburb.

“The site’s location and context make it well suited to support a more diverse and sustainable residential offering in the area,” the developer stated in community consultation materials.

&nbsp;

The plans are for 54 apartments, 14 of which will be dedicated to affordable housing. There will be a mix of two- and three-bedroom apartments.

The proposal aims to contribute to housing diversity in the Woollahra Local Government Area while taking advantage of recent Low and Mid-Rise Housing Reforms introduced under the NSW Housing SEPP, according to the Scoping Report prepared by Urbis.

The architecture, led by <a href="https://www.apartments.com.au/architects/mhn-design-union">MHNDU</a>, reflects a "contemporary design approach sensitive to the character of Rose Bay." Communal amenities will include a wellness area with a pool and sauna, a gym, a wine lounge, and landscaped spaces with barbecue facilities.&nbsp;

“The proposed development will offer a suite of premium communal amenities designed to enhance resident wellbeing, foster social connection, and promote a healthy lifestyle,” the project team notes in its public materials.

Three levels of basement parking are planned, and EV charging facilities will be included, aligning with sustainability and transport objectives. A comprehensive traffic study is underway to assess and manage local impacts.

With 54 apartments, the proposal by HSN will be one of the largest developments in Rose Bay for decades. It tops the 50 apartments soon to launch by Orosi on <a href="https://www.apartments.com.au/new-apartments/the-avenue-rose-bay-1-the-avenue-nsw-2029">The Avenue</a>, near the Royal Sydney Golf Club.&nbsp;

Joel Robinson

First look: HSN plans Spencer St, Rose Bay apartment project

Lendlease’s Barangaroo South precinct is officially complete, marking the culmination of a 15-year urban regeneration project that has revitalised Sydney’s harbourfront.&nbsp;

In 2009, the NSW Government’s Barangaroo Delivery Authority appointed <a href="https://www.apartments.com.au/developers/lendlease-development">Lendlease</a> as developer to transform what was once an inaccessible container port on the western edge &nbsp;of Sydney’s CBD into one of the city’s most thriving mixed-use destinations. Today, Barangaroo South is home to more than 1,800 residents, 23,000 workers, 95 retailers and welcomes 33,000 visitors each day. The precinct stands as an international benchmark for large-scale urban regeneration.&nbsp;

International Towers Sydney, the three flagship commercial buildings at the centre of &nbsp;Barangaroo South, together with engineered timber buildings Daramu House and &nbsp;International House, attracted major corporate tenants from the outset, including Westpac, &nbsp;PwC and KPMG, who are still there today. These workplaces remain some of the most &nbsp;sought after in Sydney’s CBD with over 95 per cent occupancy– a testament to the appeal of world-class, modern infrastructure alongside the precinct’s dining and entertainment that &nbsp;are a drawcard for businesses.&nbsp;

One Sydney Harbour, the three luxury residential towers designed by world-renowned architect Renzo Piano, has achieved more than $4 billion in sales since its launch in 2019, while setting new Australia property price records. This includes the three-level penthouse that crowns Residences One which sold for more than $141 million in 2019 – the most expensive individual residential property ever sold in Australia. &nbsp;

[smartcode_project:default project_id=139801 project_image_fid=349150]

Barangaroo South is also Australia’s first mixed-use carbon-neutral development, an accolade achieved through energy-efficient and innovative infrastructure, including a district cooling plant with a harbour water heat rejection system, a recycled water &nbsp;treatment plant, onsite solar and an embedded electricity network.

The precinct has maintained its Climate Active Carbon Neutral certification since 2019, affirming its &nbsp;reputation as the gold standard in large scale, sustainable urban renewal. Additionally, its &nbsp;world leadership status has been validated by the Green Building Council of Australia’s &nbsp;6 Star Green Star Communities recertification (Pilot v.2).

[smartcode_project:default project_id=139801 project_image_fid=349157]

First Nations cultural values were embedded throughout the planning and delivery of the project. The precinct honours Barangaroo, a prominent First Nations woman, through its &nbsp;name. Public art, street names, and design elements across the precinct reflect and &nbsp;celebrate First Nations cultures and connections to Country.&nbsp;

The project's completion positions Barangaroo South as a legacy urban transformation delivered through long-term partnerships and world-leading urban regeneration and placemaking capabilities. &nbsp;

[smartcode_project:default project_id=139801 project_image_fid=349154]

Tony Lombardo, Group CEO Lendlease, said&nbsp;Barangaroo South represents one of the most significant urban regeneration projects in Australia.

"[It] demonstrates what can be achieved through an ambitious vision, innovative placemaking, long-term commitment and strong partnerships. The precinct has changed the face of Sydney's waterfront, established new benchmarks &nbsp;for sustainable development, and provided a model for urban regeneration that continues &nbsp;to inform our approach to creating places that deliver long-lasting value.”&nbsp;

Tom Mackellar, CEO Development Lendlease, said&nbsp;Barangaroo South has reconnected the city to its harbour in a way that seemed unimaginable 15 years ago and turned it into a thriving precinct where people can live, work and gather on the harbour’s edge.&nbsp;

“This precinct is the result of countless contributions, led by the NSW Government who set the ambition, supported by investment partners who believed in Lendlease’s vision, imagined by architects and designers, shaped by consultants and artists, and brought to &nbsp;life by our dedicated construction teams. &nbsp;

“What we’ve created here is more than buildings – it’s the best of placemaking, sustainability, arts and culture and quality design. Barangaroo South has become an integral part of Sydney that will serve our city and economy for generations.”

Staff Writer

Barangaroo South’s 15-year transformation of  Sydney’s waterfront officially complete

CBE Asia Pacific has lodged plans for a prominent corner site in Fitzroy North, with a proposal that integrates state-significant affordable housing alongside heritage adaptation and new retail.

The application covers a consolidated 2,024 sqm parcel at 201–215 Queens Parade and 6–12 Dummett Crescent. The site includes the heritage-listed Former Clifton Motor Hill Garage, fronting Queens Parade, and vacant land to the rear abutting Dummett Crescent.

According to planning documents prepared by proUrban, the proposal seeks approval for a 12-storey residential building comprising 98 apartments, including a component of affordable housing, over a ground floor retail podium integrated within the heritage structure. Approximately 780 sqm of retail space will occupy the ground floor, while residents will have access to over 850 sqm of communal amenity.

The built form presents as two connected volumes: a 12-storey tower addressing Dummett Crescent and a five-storey volume fronting Queens Parade, the latter consistent with a separate Heritage Victoria permit granted in 2023. The tower reaches a maximum height of 38.26 metres, with upper-level setbacks of 14 metres from the western boundary to reduce visual bulk. A 1.5-metre footpath widening is proposed to Dummett Crescent Lane.

Parking is provided across four basement levels, accessed via Dummett Crescent, with a total of 142 car spaces and 143 bicycle spaces.

The architectural response by <a href="https://www.apartments.com.au/architects/cht-architects">CHT Architects</a> is framed by a need to reconcile new density with a sensitive heritage overlay. The Former Clifton Motor Hill Garage, identified as a place of State heritage significance, will retain its key façades, with demolition and reconstruction limited to approved elements.

As noted in the Heritage Impact Assessment, the proposal remains consistent with the Heritage Victoria permit, which allows "partial demolition, reconstruction and new works, involving the construction of a five-storey multi-use development and three basement levels".

Affordable housing has been embedded into the proposal under Clause 53.23, with specific apartment allocations aimed at enhancing housing diversity within the Queens Parade Activity Centre.

"The proposal is generally consistent with the relevant policy objectives and the intent of the Yarra Planning Scheme," proUrban states in its planning assessment, citing its alignment with strategic documents including Plan Melbourne and Victoria’s Housing Statement.

CHT Architects' plans emphasise a tiered design that acknowledges the site's varied interfaces—from the elevated Heidelberg Road ramp reserve to the recently built Clifton Views aged care facility to the north-east.

CBE Asia Pacific has not been previously active in this precinct, but the project joins a wave of higher-density residential proposals along the Queens Parade corridor, spurred by Melbourne’s broader push to increase affordable housing in well-connected inner-urban areas.

The site benefits from direct access to the Queens Parade tram corridor and proximity to Clifton Hill Station (approximately 200 metres), as well as green open spaces including Mayors Park and Raines Reserve. Clifton Hill Primary School and the Queens Parade retail village lie within walking distance.

First look: CBE Asia Pacific plans 100-apartment Jenkin House on Queens Parade, Fitzroy North

ALT Pasta, one of Melbourne’s most beloved inner-city pasta bars, has been confirmed as one of the first tenancies for the highly anticipated <a href="https://www.apartments.com.au/new-apartments/comme-prahran-182-194-commercial-road-prahran-vic-3181">Comme Prahran</a> development, marking an exciting next chapter for the cult favourite as it prepares to expand into the heart of <a href="https://www.apartments.com.au/developments/prahran-vic-3181">Prahran</a>.

Fresh off being named National Best Italian Restaurant at the 2025 Restaurant &amp; Catering Hostplus Awards for Excellence, ALT continues to solidify its reputation as a quietly confident leader in Melbourne’s dining scene. Lauded for its reinterpretation of Italian pasta through a Korean and Japanese lens, the restaurant has grown into a staple since opening three years ago, and its new Prahran outpost will only deepen its local impact.

“From the very beginning, ALT has been about respect - for tradition, for ingredients, and for the process,” shares Mino Han, ALT’s founder, a Korean-Australian chef whose vision is shaped by cultural duality and craftsmanship.&nbsp;

“We’re not trying to reinvent the wheel, just make something beautifully familiar, feel quietly special,” added Han.

[smartcode_project:default project_id=108413 project_image_fid=353585]

Positioned at the entrance to Comme Prahran and directly opposite the iconic Prahran Market, the new venue will celebrate the interplay between casual comfort and elevated detail. Designed in collaboration with Rooftop Architecture, the same team behind ALT’s flagship city location, the space will mirror the neighbourhood’s laid-back energy while staying true to the brand’s understated refinement.

Diners can expect a frequently changing menu that takes advantage of the market’s daily produce, along with set menu offerings exclusive to this location. A distinctive chef’s table and open kitchen format are also in the works, allowing guests to experience ALT’s signature intimacy and transparency in a new light.

ALT Prahran won’t replace the original venue; rather, it complements it.

“Our city site is like our heritage bottle; it’ll age gracefully. Prahran is where we’ll play, explore new ingredients, and bring something special to the community,” Mino notes.

[smartcode_project:default project_id=108413 project_image_fid=353584]

For Comme Prahran, a boutique development by Leeka that blends heritage with multi-dimensional wellness, ALT Pasta’s arrival signals a meaningful addition to its vision of cultural connection, food-first living, and local engagement.

“Being part of Comme is more than just opening a second venue. It’s about contributing to a neighbourhood with character, history, and a strong sense of community. That’s something we deeply relate to,” says Mino.

Sustainability and cultural identity are deeply embedded in the ethos of ALT. From ingredient sourcing to interior design, the new location will reflect both environmental mindfulness and a spirit of inclusion, embodying the values of Melbourne’s diverse, forward-thinking culinary scene.

Comme Prahran is scheduled for completion in late 2027, with ALT Pasta expected to be among the first tenancies to open its doors shortly after.

[smartcode_project_cta:default project_id=108413]

National best Italian restaurant ALT Pasta to open at Comme Prahran, bringing refined familiarity to Melbourne’s culinary heart

National BEST Italian restaurant ALT Pasta to open at Comme Prahran

&nbsp;Boutique development and construction firm Ryser has filed plans for its debut apartment building.

Ryser, founded by Jonthan Ryan and Wil Prosser, has sought to develop <a href="https://www.apartments.com.au/new-apartments/sorelle-4a-fern-place-woollahra-nsw-2025">Sorelle</a>, 28 new apartments at 4a Fern Place, Woollahra.

The&nbsp;750 sqm site on the edge of Bondi Junction falls within the Grafton Precinct Heritage Conservation Area, though it is currently vacant and not identified as a contributory item.&nbsp;

<a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> has been commissioned to design Sorelle, creating an eight and a nine-storey building with six apartments dedicated to affordable housing to support essential workers&nbsp;under the NSW Government’s low and mid-rise housing policy.

The dwelling mix includes 12 one-bedroom units, six one-bedroom affordable units, six two-bedroom units, and four three-bedroom residences.<img alt="4A Fern Place, Woollahra." data-entity-type="file" data-entity-uuid="86626941-772d-49c5-8d31-a8e42f44cdcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Fern%20bldg%20st.png?VersionId=tWIzXYX9gD60nP1L3..Z0BFbY5mafb36" />

According to the planning documents submitted to the Woollahra Council, the development responds to the complex interface of heritage fabric and urban infrastructure with two mid-rise residential buildings oriented to the north and designed to capitalise on sweeping views over Sydney Harbour and Bellevue Hill.&nbsp;

“The proposal aims to hero some of the brick detailing of Woollahra, celebrating the existing datums of Fern Place, whilst embracing the strong verticals of the Holy Cross Church and Bondi Junction with a nod to the historic iron works and iron rich soils of the area,” Woods Bagot noted in their Design Report.

&nbsp;

Only three car parking spaces are proposed, alongside 33 bicycle bays, in a move that leverages the site's proximity to Bondi Junction train station, just 400 metres away.

Architecturally, the material palette incorporates Corten steel and face brickwork to reference the site’s industrial past and local geological character. Landscaping features include a communal garden bridging the two buildings at ground level, landscaped setbacks to protect visual privacy, and a small corner park intended to soften the public interface.

<img alt="4A Fern Place, Woollahra." data-entity-type="file" data-entity-uuid="f71766d6-aa14-44df-9bc5-42f91890fd4a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Fern%20bldg%20rear.png?VersionId=uh7u1rJ6NJF5OqyRs9iNJcy6R9ssgaXU" />

Ryser said Sorelle "brings together the best of both worlds, the intimacy of village life with the amenity and luxury of modern design."

The developer said the project marks the first of three developments they will be announcing shortly, a key step in their&nbsp;evolution as a builder-developer delivering meaningful, high quality urban outcomes across Sydney.

The expectation is the Woollahra LGA will become popular for developers with the signal from the NSW Government they will deliver&nbsp;<a href="https://www.apartments.com.au/developments/sydney-nsw" target="">Sydney</a>’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around&nbsp;<a href="https://www.apartments.com.au/developments/woollahra-nsw-2025" target="">Woollahra</a>&nbsp;and&nbsp;<a href="https://www.apartments.com.au/developments/edgecliff-nsw-2027" target="">Edgecliff</a>&nbsp;stations.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/next-stop-woollahra-train-station-delivering-up-to-10-000-new-homes-in-the-heart-of-sydney">Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney&nbsp;</a>

First look: Ryser plans two apartment buildings on Woollahra, Bondi Junction border

Commercial Finance

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<img src="/images/2016/05/10/Holdencapital_banner.jpg" alt="" width="608" height="128">
SPONSORED POST
We often see small to medium sized property developers struggle for cash flow and, in our experience, it is the single biggest reason for developers going under and as they say, “cash is king”!
The very nature of property development is that a project will only incur costs throughout its lifecycle until the construction is complete, titles are available and the properties are sold and settled.  In most cases, this process takes some 12 to 18 months and that is a long time to be expending money, even if it is borrowed and not receive any income. 
By definition property development is a capital-intensive and cash flow poor industry and developers who don’t have an ancillary business that provides them with an alternative source of income need to work smarter at what they do.
Some property development cash flow strategies to consider
1.    Be smart and replace some of your equity during the project lifecycle
How and when you utilise your capital can greatly reduce the demand on your cash flow and it is important to remember that in most instances, project risk reduces as the project progresses. It therefor follows that the earlier in the project timeline that you borrow money, the more expensive that money will be. 
Obviously, the most capital-efficient way would be to use other people’s money (OPM) as much as possible, however that comes at a cost and delaying the point in time when you ustilise OPM will reduce this cost.
As an example, in the current market environment the cost of funds for any ‘non-mortgage secured’ money i.e. risk equity, will reduce over time as shown below:
2.    Schedule projects efficiently
If you only have enough equity to develop one project at a time the ability to maintain a consistent flow of projects and resultant profits is significantly reduced. By taking advantage of the above principals you may be able to make an “equity redraw” and introduce OPM to replace some of your existing equity once you have secured the development approval and some pre-sales.  This will then allow you to utilise the capital released to secure your next project without having to wait until the current project is completed.
This approach leverages your equity to make it work more efficiently as well as bringing forward the income streams for future projects and there for improving your cashflow by shortening the timing between project completions and the resultant profits.
3.    Keep your overheads low
A very effective strategy many small to medium size Developers use is to engage a multitude of project-specific consultants. By doing this, those consultants are a direct cost to a specific project and the developer avoids carrying ongoing salaries as part of his overheads. In some instances there is also the potential to delay some of the payment for the costs involved to coincide with project milestones further improving the project cashflow.
4.    Include a Development Management Fee
By including a development management fee into your project feasibility, you allow yourself to receive income during the project lifecycle. In many instances, the first mortgage construction finance provider will allow a periodic development management fee to be advanced from the loan as part of the professional fees but remember that it needs to be kept reasonable, reflecting your contribution to the project.
5.    Negotiate your settlement terms
During the early stages of a typical development project lifecycle, the most capital-intensive part will be the settlement of the development site. By negotiating favourable settlement terms, you can potentially delay paying for the property until you have substantially removed the Approval risks associated with it. This in turn will improve the funding costs and the project cash flow in general.
6.    Have a safety net
If possible, have another business that you can operate in parallel with the development operations. This applies more to smaller businesses that are largely undertaking one project as a time and do not have the capital to smooth out the resultant cash flow lumpiness. Having a small income generating business that requires minimal capital and operating overheads such as a real estate rent roll, small equipment hire business or similar means that when the market is in a serious downturn and you need to be able to just “sit on the beach” and wait it out, this alternative income can be a real godsend.
All of this is important but the real challenge is to actually put it into practice. Sitting down with your accountant and lawyer is a good start but they tend to be reactionary and can only provide some of the answers. 
A critical piece of the process is having a clear understanding of the finance and capital structures that are actually available to you and then building your strategy around the reality of those solutions rather than developing a concept and then having to compromise it to meet the market realities. This is where a professional construction finance broker can really add value to your business so the real question is, will you do something about it today or wait until it becomes a regret?
This article was written by Dan Holden of HoldenCAPITAL, who are a bespoke construction finance firm, they arrange construction finance and invest in projects through their equity fund, Queen Street INVEST. To discuss your project finance requirement please call (07) 3171 4200 or visit HoldenCAPITAL <a href="https://www.holdencapital.com.au/" target="_blank">here</a>.
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firstname-zEygzUaHDN

Cash flow the biggest killer of property developers

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A senior industry executive has come out with a book on the predatory lending practices within the commercial finance sector.
The book, Get a Second Opinion before You Sign by Shane Reynolds of Reynolds Private Wealth, is about first and second tier lending, construction finance, preferred equity and distressed debt transactions.
Reynolds told the Australian Broker that the book attempts to “lifts the curtain” on under-the-table practices occurring in an unregulated industry with no consumer protection.
It targets the dual audience of consumers and mortgage brokers.
“I’ve always believed in giving the intellectual property to the people,” he was quoted by Australian Broker. 
“I had a number of fund managers tell me not to publish the book because it would take away an element of my advisory and their advisory business. They said I was giving the keys away; that clients would scrutinise our letters of offers and mandates. If you truly have a good business model then you shouldn’t concern yourself with the fine print. You should concern yourself with delivery.”
The book explains the steps in the preparation of a mortgage application and the process for successfully obtaining a commercial loan.
Reynolds said that “every broker in Australia should read this book 1) for product knowledge and 2) for developing that additional income stream and skillset to say to clients that you understand commercial loans”.
Unable to get loans from the banks, borrowers are “already distressed” before entering the unregulated commercial finance sector, Reynolds said. A further lack of knowledge from consumer and broker can put the borrower in a more vulnerable state.
“It depends on the desperation of the borrower as to the terms and conditions that they’re offered. You may find yourself in a situation where if you don’t fulfil your obligations under the agreement, you’ll have a caveat or mortgage on your property for fees. Unless you’re very well versed in commercial litigation, often you’re either faced with settlement provisions, terms with the lender or broker, or they simply enforce their position and sell you up.”
One common practice, according to Reynolds is called a “set up to fail” agreement in which the lender knows the borrower will default, using this as a way to create a deed of forbearance.
“Lending money is no longer built on the premise of receiving interest. It’s become about receiving interest and then taking the client’s security when their mortgage goes into default,” he said.
Aware of the client’s asset position, a lender may create a deed of forbearance, inserting additional security including a selection of properties that the client has in their portfolio.
“The moment the 60 days is up on the deed of forbearance, the lender then has rights against all those other properties as well. No one in their right mind would sign these agreements but borrowers are so in distress that they don’t know the difference.”
He said the commercial market lacked aggregators or franchises such as Yellow Brick Road or Mortgage Choice in the commercial space, so residential mortgage brokers need to be doubly aware when seeking information in the opaque world of commercial finance, he said.
“If you’re going to deal with these people, then just beware of the fine print. Get a second opinion from your lawyer before you sign anything and if there are nasty clauses in those agreements, strike them out.”
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jonathanchancellor-7SQnKwU6yx

Book lifts veil from the foggy world of commercial property finance

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Former prime minister Paul Keating has joined leading commercial financier MaxCap as a stakeholder and board member, as it looks to fill the gap in commercial lending left by banks' tightening criteria. 
MaxCap, which manages more than $3 billion of commercial real estate mortgages, claims to be leading the charge on super funds investing in lucrative commercial real estate lending.
MaxCap managing director and founding partner Wayne Lasky was cited by Fairfax Media as saying that Keating was providing strategic advice and had invested in the business.
Keating, who was PM from 1991 to 1996, recently said if a decision was taken to allow young Australians to access their superannuation to buy a house, it would “rob them” of savings later in life and called it an “irresponsible idea” in an opinion piece on Fairfax Media.
MaxCap group recently teamed up with Australia’s biggest industry super fund, Australian Super, to offer large $100 million-plus loans direct to developers.
Keating joined MaxCap late last year as a director.
The former PM's government was behind the 1992 creation of Australia's compulsory employer contribution scheme that now looks after $2 trillion in superannuation retirement savings.
"If a former head of state seeks to take an investment in a business, they do even more due diligence than institutional investors. Paul carefully guards his legacy, and rightfully so. Having done that work with us, he wanted to get a stake. We're happy to accommodate it," Lasky said.
"It's a big shot in the arm to the sector. When you've got the big instos [institutional investors] participating and you've got the former prime minister participating, you can see where it's moving to in the future."
MaxCap focuses on filling the gap in commercial lending left by the banks after the Australian Prudential Regulatory Authority tightened rules in the wake of the global financial crisis.
Lasky said Australia's commercial property lending was a $220 billion market, with more than 80 per cent of funding dominated by the big four banks.
APRA's imposition of stricter international Basel banking requirements will shrink the bank's market share and open up a $30 to $40 billion funding gap, he said.
"There's a structural dislocation which has been taking place since the crisis. If you've got the capital, there's pretty good lending to be done," Lasky said.
MaxCap placed $300 million in private funds through first mortgage lending over six months to December last year.
It also raised and placed $50 million in the first tranche of a $100 million first mortgage fund, with another raising expected in the next two months, he said.
A spokesman for Keating said the former PM believed it was the right time to invest into MaxCap's platform which was well placed to take advantage of the structural opportunity as the banks were obliged to withdraw from commercial funding due to Basel III and IV guidelines.
The MaxCap website is <a href="https://www.maxcapgroup.com.au" target="_blank">available here</a>.
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Former PM Paul Keating takes stake, joins board of commercial financier MaxCap

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Unlisted property fund manager Quintessential Equity will receive financing of $68 million from the Clean Energy Finance Corporation (CEFC) for its new $120 million green office tower in Victoria’s Geelong. 
The 1 Malop Street development is the largest commercial office project to receive finance by the CEFC, which invests in renewable energy, energy efficiency and low emissions technologies, said a media release.
The financing will help Quintessential Equity in its efforts to get the tower a 5.5 star National Australian Built Environment Rating System (NABERS) base building energy rating, a first for a Victorian multi-storey commercial office building outside of the Melbourne CBD. 
1 Malop Street will be home to WorkSafe Victoria’s headquarters from mid-2018. The 14-level building will merge the heritage Dalgety &amp; Co building into a property consisting of nearly 15,500 square metres of CBD PCA A-Grade office accommodation. 
Quintessential Equity head of development Guy French-Wright said there was a growing demand for affordable high-quality green office space in Geelong. 
“Our 1 Malop Street development will set a new gold standard for near city office accommodation, designed around the ethos of Live, Work, Play,” French-Wright said. 
“Through the support of CEFC we are in a position to improve the building’s energy efficiency from 5 star to a 5.5 star NABERS base building energy rating. This will provide an opportunity to achieve an additional 25 per cent reduction in the building’s energy consumption and provide additional cost savings for all tenants.” 
CEFC chief origination and transactions officer Paul McCartney said the financing commitment reflected the CEFC’s role in driving increased investment and innovation in building sustainability. 
The new building will offer 14 levels of office space and include a ground-floor café and rooftop exercise areas.
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Commercial Finance

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