A long-standing tenancy agreement by Cadbury to one of St Kilda Road’s first and biggest office buildings, could be ending.
The London-based confectionary company, headquartered in Australia at the bottom of the tree-lined boulevard for more than 15 years, is believed to seeking 6000 square metres elsewhere in the city fringe, or in town.
Its requirement follows the group selling its Schweppes division to Japan’s Asahi Breweries for $1.2 billion.
The Cadbury-Schweppes company occupied c7000 sqm, or 40 per cent, of 636 St Kilda Rd, at the busy junction of Dandenong and Punt roads.
Completed in 1974 and officially opened two years later it rises 19 storeys, making it one of the tallest in the street.
It underwent a major refurbishment in 1988.
Cadbury’s lease expires in October 2010 (story continues below).
Meanwhile, Schweppes has relocated to offices opposite South Melbourne Market.
Its has rented 4000 sqm at 111 Cecil St, also Spotlight’s base.
The drinks company’s lease is speculated to be city fringe’s biggest this year.
Office area was asking $330 per sqm, per annum, but the price Schweppes is paying is unknown.
Thorburn Commercial director Kenny Thorburn brokered the South Melbourne deal.
GE Capital owns 636 St Kilda Rd; the investment was temporarily for sale last year, chasing over $50m.