Spotless Group Leases Entire St Kilda Road Office Building, Melbourne

A Spotless representative confirmed the lease when contacted by Capital Gain. CB Richard Ellis and Colliers International were the leasing agents.

In the immediate area, Schwartz Family Corporation is selling an office asset at 499 St Kilda Road, in a deal expected to fetch between $50 – $55 million.

Last year, China-based developers paid $40 million for the Clemenger House office at 474 St Kilda Road. Two apartment towers are expected to be redeveloped on this site in the medium-term.

The Aviva office building site, at 509 St Kilda Road also sold to apartment builders and is expected to be replaced with up to two towers in the longer term.

Billionaire businessman Ron Walker recently paid a speculated $13 million for the former Suntory restaurant at 74 Queens Road, and immediately proposed a 13-level, 228-unit complex, Monarc, which has been marketed since last year.

 

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco

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