ACSO Leases Highest Profile Suburban Office Building in Melbourne

Government affiliated department the Australian Community Support Organisation has leased what is arguably Melbourne’s highest profile suburban office building.

ACSO will occupy all 1300 square metres of space at 1 Hoddle Street, a B-grade building at the busy corner of Victoria Street in Richmond.

1 Hoddle was formerly occupied by 3 Mobile, and before that sibling company Hutchison Communications. The building is managed by Henkell Brothers on behalf of a German-based owner.

Henkell Brothers developed the building for one of its clients in 1988.

DTZ leasing agent Tom McInerney said the building attracted several potential tenants, but that the building owner was intent on leasing the whole building to one tenant.

It’s believed ACSO will pay about $250 per square metre to occupy the building, and 32 basement car parks.

As well as the 1 Hoddle Street lease, Henkell Brothers has another reason to smile this week, after an office building in Cheltenham is reported to have entered exclusive due diligence, for around $13 million.

If sold, this leaves just one property in a $180 million portfolio put to the market late last year by Henkell Brothers, left to sell.

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