July 5, 2019

United Petroleum Co-Founder Launches Abbotsford Office

United Petroleum co-founder Eddie Hirsch has proposed an uber-green office at Abbotsford, four kilometres north-east of Melbourne.

The 10-storey building (artist’s impression, top) permitted for 218-228 Hoddle Street, on the north-east corner of Stafford, will contain 7000 square metres of lettable area and 70 car parks.

Branded Johnston Main it will also offer a health-based café, modern end-of-trip facilities and multiple terraces capturing city views.

Designed by Architectus, it will replace a warehouse which has in recent years been occupied by as a Dutton Garage Group a car dealership.

Mr Hirsch and Avi Silver, the other United Petroleum founder, spent $5.04 million on the 1131 sqm Abbotsford holding four years ago.

In 2017, Mr Silver sold his half share to Mr Hirsch for $2.8m.

The purchaser is co-developing Johnston Main with the Faigen family under the company name H&F Property. The project will be the suburb’s first five-star Green Star rated office.

“The family saw a gap in the market for a high-end, well designed building based on high ESD [ecologically sustainable development] and wellness,” H&F Property director Richard Hirsch said (story continues below).

“We listened to the market and feel we have delivered a product that addresses this better than any other project in the precinct”.

JLL office leasing agents Josh Tebb and Matt Szakiel added “the office will use renewable energy sources, sophisticated water recycling technology and passive features such as window massing to keep energy costs to a minimum and maximise workplace health and productivity”.

“It is widely acknowledged that green buildings use 50-60 per cent less electricity and 50pc less potable water than do average Australian city buildings”.< The brokers are marketing Johnston Main as the suburb’s “greenest, cleanest, office”. Today we reported the Zagame family, managed by Fife Capital, also commenced a leasing campaign for an Abbotsford commercial investment at 112-124 Trenerry Crescent; constructed in 1927 as the Austral Silk and Cotton Mill building, it is currently being renovated. The landlord acquired the property from the Australian Education Union’s Victorian division five months ago for $21m. Last September Mr Hirsch and Mr Silver sold United Petroleum’s former headquarters at 198-210 Hoddle St – an office built into a red brick warehouse occupied until 1951 as the Whybrow Shoe Factory. Thorne Harbour Health paid more than $10.5m for that asset to occupy.

United Petroleum meanwhile relocated its headquarters to a 3800 sqm space at 600 Glenferrie Rd, Hawthorn, owned by Banco Group, and built in 2005 for HBA.