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State government markets Australian development complex for A$115M

The development arm of the state government of Victoria in Australia is selling the Ballarat GovHub complex for approximately A$115 million, The Australian reported.

The marketed project costs approximately A$100 million to build and will have the capacity to occupy up to 1,000 public servants in the state upon its expected completion in December 2020, according to the publication.

Ballarat GovHub will comprise four levels of office space spanning 10,843 square meters, two basement levels with parking spaces for about 220 cars and modern end-of-trip facilities. The development is pre-leased to the Victorian government for a term of 20 years, the Aug. 22 report added.