String of lease deals fill two prominent suburban offices
Four lease deals have filled two prominent offices – one co-developed by a former AFL player – in Melbourne’s leafy east.
In the biggest deal, childcare provider TheirCare, which provides outside-school-hours care services to children across Australia, committed to 823 square metres at 109 Burwood Road, Hawthorn.
The deal comes three months since realestatesource.com.au reported EdTech group Compass rented 1585 sqm in the building, relocating from the ex-Owens Illinois headquarters at 36-38 Burwood Rd, in the suburb.
Meanwhile, mortgage broker Zella Money and financial advisory GFM Wealth Advisory have committed to 468 sqm and 761 sqm respectively at 141 Camberwell Rd, Hawthorn East (pictured, top).
The three deals bring the two buildings to full occupancy.
Growthpoint is the landlord.
Office lease deals
The five-level 109 Burwood Rd was completed in 2008 by Queensland-based First State Developments, founded by Bruce Tilley, on the former Vatmi Industries site
Then known as Vantage it contains 12,287 sqm of office space and 470 basement car parks.
GPT Metro Office Fund acquired it in April 2014 for $63 million.
Growthpoint seized that trust, with six offices, in 2016.
It sits on the assets manager’s books as worth $99m at June 30 (continues below).
Hawthorn East
The Hawthorn East office forms part of a mixed-use complex, Camberwell Village, which replaced the Bilia Volvo dealership in 2019.
It was delivered by Blueprint Projects, a partnership with ex-Collingwood footballer Paul Tuddenham, Antony Quinert and Magnus Floden.
With 10,161 sqm of A-grade office area, ground-floor retail and 304 basement car spaces, Growthpoint bought it from the developers in early 2022.
The $125 million price reflected a low 4.71 per cent return.
At the time of the acquisition, the building was 99pc leased to tenants including Cabrini Health, Miele and Siemens Healthineers, with a WALE of about seven years.
Growthpoint valued it at $85.3m at June 30, 2026.
Daniel Nutbean and David Wood are managers of the portfolio which holds the asset.
CBRE’s Anthony Park and Gianni Macdonald, with Lemon Baxter’s Josh Tebb and Mario Nobrega, brokered the lease deals.
Colliers’ Tom Rothel committed Compass.
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