Royal Melbourne Hospital leases at Elizabeth North

PDG has secured the Royal Melbourne Hospital to the last piece of a near completed office, part of the $750 million Elizabeth North biotechnology precinct, near the top of town.

The tenant has signed a 10 year lease for 10,000 square metres across six floors at 611 Elizabeth Street (artist’s impression, left, in image, top), at the north west corner of Queensberry.

The area was previously pre-committed by Trinity College for a vertical campus however the school reversed its decision during COVID.

City Toyota and Woolworths Metro will occupy the lower floors of the nine storey, c20,000 sqm building being constructed by Probuild.

The Royal Melbourne will occupy its space for administration and services staff – its hospital is about 400 metres away, at the corner of north west corner of Royal Parade and Grattan St.

CBRE’s Mark Bolis and Tom Backay represented the tenant (story continues below).

Walking distance to Royal Melbourne Hospital

PDG is developing the Royal Melbourne office and the investment next door, a 16 level, 35,000 sqm investment pre-committed to CSL, on the former City Toyota dealership.

A taller commercial tower – the final component of Elizabeth North – is planned for the Bob Jane T-Mart site next to that (683-699 Elizabeth St), which is owned by a different builder, abutting the Haymarket roundabout.

Classified as Melbourne, but about 1.5 kilometres north of the GPO, the pocket is near the Royal Women’s Hospital, Victorian Comprehensive Cancer Centre and Parkville stop of the Metro Rail tunnel, which is under construction.

Subscribe to our newsletter at the bottom of this page.

Share or Recommend article

Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of