Alfred leases entire St Kilda Rd building
Alfred Health has leased an entire seven level office abutting its Prahran hospital.
The eight year commitment for 541 St Kilda Road (pictured, top) – 8247 square metres and 126 car parks – fills the tenancy recently vacated by Seek.
Thorburn Commercial’s Kenny Thorburn with Cushman & Wakefield’s Ben McKendry acted for the building owners, Sydney based Marprop and German fund manager GLL Real Estate Partners.
The rent is undisclosed but the office was asking $4.264 million per year – or $520 per sqm – before incentives.
The landlords, who picked up the asset from BayleyStuart for c$65m in 2018, renovated the ground floor lobby and end-of-trip facilities during the brief leasing campaign (story continues below).
The Alfred agreement comes five months since the healthcare group paid $31m for a low-rise block of flats next door – #545 – with plans for a six storey facility to be known as the Victorian Melanoma and Clinical Trials Centre.
It also comes three months since the Property Council of Australia released its bi-annual Office Market Report, putting local vacancy at a high 16.3 per cent, with 8000 sqm more space vacated than filled in the six months to July.
Seek relocated to a distinctive Hassel designed headquarters at Cremorne.
Subscribe to our newsletter at the bottom of this page.
