Carrick, which services the booming international student market, will use the new building as a private university campus. It has leased 3492 square metres at 25 Queensbridge Street, with a view to expanding that tenancy to 5500 sq m – or the entire building – over the next 12 months, once smaller tenants vacate.
It will relocate from its main campus at 255 Bourke Street, to the Southbank building, where it has also leased naming rights.
Colliers International associate, office leasing, Tony Landrigan, who negotiated the deal, said Carrick signed a 10-year lease for three levels of the building. He declined to comment on the rental paid. However, sources say B-grade office space in the area fetches about $240 per square metre.
Mr Landrigan said new legislation on the international student market had led to a rush of tenant inquiries for CBD and fringe office space from the education sector.