Pembroke refurbishes heritage Melbourne building as tenant renews
Pembroke Real Estate has paired an extensive refurbishment of 161 Collins Street in Melbourne with the announcement that it has secured the renewal and expansion of key tenant, IOOF.
Financial services company, IOOF, has signed a new 10-year lease expanding the tenancy from approximately 3980 square metres to 8000 square metres across two floors, according to Pembroke.
Meanwhile, Pembroke’s vision for the refurbishment includes the transformation of the ground plane to deliver a “dynamic new entrance experience” with an amenity rich atrium, as well as upgrades to the office floors and new end-of-trip facilities.
Pembroke vice president and head of Australia, Matthew Knight, says the lease renewal is testament to the team’s commitment to enhancing the tenant experience at 161 Collins Street.
“Once complete, 161 Collins will become a model for the workplace of the future, actively promoting a sense of community and tenant wellness while supporting high performance and enriching the city’s wider community,” Knight explains.
IOOF head of facilities Michael Stanelos adds the refurbishment plans present an exciting opportunity for the company.
“The prestigious location, together with the large floor plates and Pembroke Real Estate’s exciting vision to upgrade the tenant facilities, will enable us to consolidate our business operations within an exceptional office environment, complete with state-of-the-art technology and building services,” Stanelos says.
The 161 Collins Street development follows Pembroke’s transformation of 20 Martin Place in Sydney, from a 1970s building to a modern property.