Mercedes-Benz will not renew a lease for signage rights at South Melbourne’s high profile 222 Kings Way – prompting the owners corporation to seek a replacement.
The squircle office at the south west corner of Sturt Street, staring down Coventry and visible from the West Gate, has four walls available at its 15th level rooftop.
One company could take the lot – but a 360 degree vista like that the car maker has enjoyed for decades will cost $140,000 ex-GST in the first year.
Alternatively, though it isn’t preferred, the OC would consider renting each wall individually.
Initial five year commitments are being sought via Key Property Negotiators’ George Georgiou (story continues below).
The office, less than two kilometres from the city, is one of the pocket’s earliest major ones. It is known as the Mercedes Building and near a dealership.
Higgins was involved in repainting it seven years ago, from cream to black, grey and blues which matched the car manufacturer’s logo.
In July, the 14th floor penthouse, a 356 square metre investment purchased in 2005 by the Australian Rail, Tram and Bus Industry, was listed for sale via Colliers International’s Chris Ling, Anthony Kirwan and George Davies, with a c$1.5m guide.