PodCo/Terraplex repositions Building 2, 658 Church Street to make way for new full-building tenant
Melbourne, July 9, 2018 – 7-Eleven, Starbucks and the Withers Group are set to relocate their corporate headquarters from Mt Waverley to Building 2 at PodCo and Terraplex’s 658 Church Street in 2019.
In a leasing deal negotiated by Colliers International’s Travis Myerscough and Rob Joyes, 7-Eleven, Starbucks and Withers Group will move into 7,400sqm vacated by Just Group, which has moved to St Kilda Road after 21 years in Richmond.
PodCo/Terraplex’s Anthony Wilson said the whole building would be fully refurbished for the head offices of 7-Eleven, Starbucks and the Withers Group.
“It was our expectation that Just Group’s departure would pave the way for the building to be multitenanted over a number of floors but we are thrilled 7-Eleven, Starbucks and the Withers Group are moving into the whole building giving us the opportunity to undertake a full refurbishment of the asset over six levels and reposition the building for the next 20 years,” Mr Wilson said.
7-Eleven CEO, Angus McKay, said: “7-Eleven is currently split across two sites which limits our ability to balance our current needs with our future growth plans.
“We surveyed our team on what they wanted from their ‘new home’, they told us that access to public transport options, and local amenities such as cafes, gyms and shops were very important, and we believe we have delivered on the brief.
“Increasing our exposure to wider Melbourne provides us with the opportunity to access a wider talent base as we continue to grow.
“We have an incredible opportunity to create a flexible workspace and an environment that will allow our people to flourish and our businesses to grow sustainably.”
Mr Myerscough said 7-Eleven, Starbucks and the Withers Group would join a growing number of businesses gravitating towards Richmond from the outer suburbs including MYOB, Fonterra and Reece Plumbing.
“We’ve seen a shift in demand with the rag traders who have historically been the key occupiers in Cremorne – such as Just Group, Country Road and Colorado – now vacating and making way for an increasingly diverse mix with groups such as Disney, Tesla and Iveo Group recently moving into the area,” Mr Myerscough said.