EdTech group shifts HQ within Hawthorn
Education technology – or EdTech – group, Compass, is relocating its headquarters within Hawthorn.
The company, responsible for amongst other things, software for attendance rolls, timetables, reports and parent-teacher bookings, only moved to the suburb six years ago.
It will relocate 500 metres from there – to 1585 square metres at one of the suburb’s most prominent offices, 109 Burwood Road, owned by Growthpoint, which had just completed a speculative fit-out.
“This is a standout result that demonstrates the power of a collaborative, solutions-focused leasing approach,” Colliers’ Tom Rothel said.
“Tenants are increasingly seeking flexibility and speed to occupancy and Growthpoint’s speculative fit-out allowed Compass to secure a premium workplace ahead of lease expiry,” he added.
“The result delivers a long-term solution for Compass and reinforces the strength of demand for high-quality near-city assets,” according to the executive.
Compass will join Scope, Bayer and FMIG, amongst others, at the five level, 12,228 sqm office, with 470 basement car parks, completed by Gold Coast-based Bruce Tilley’s First State Developments in 2008, after a controversial permit issued by the Victorian Civil and Administrative Tribunal, which overturned a council rejection.
On 3529 sqm at the north east corner of Power St, the site was previously Vatmi Industries’ headquarters.
Tenants prefer turnkey: landlord
Compass moved from Balwyn North to Hawthorn in 2020 – taking the former Owens Illinois Asia Pacific headquarters at 36-38 Burwood Rd, which was also offered turnkey (continues below).
“We are delighted to welcome Compass into the Growthpoint portfolio,” senior asset manager, Daniel Nutbean, said.
“This transaction highlights the value of taking an innovative and forward-thinking approach to leasing,” he added.
“By delivering a high-quality speculative fit-out, we have been able to meet the evolving needs of a growing business and attract a high-calibre long-term tenant,” according to the executive.
Compass chief strategy officer Tom Gagiero said the company needed to relocate to cater for continued expansion.
“With over 300 employees and nearing 6000 schools on our platform, this new office reflects both how far Compass has come and where we are heading, he added.
“More than an office, this is a space our school communities are welcome to visit, where they can collaborate with our team and see firsthand the dedication behind the platform they rely on,” according to the executive.
This pocket of Hawthorn is about six kilometres east of Melbourne’s CBD.
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