State government fills East Melbourne office
The Department of Treasury and Finance, on behalf of the Department of Education, has leased the balance of an East Melbourne office under construction near Parliament House.
The government has committed to 18,648 square metres in Victoria Place at 200 Victoria Parade, for an initial 10 years.
The education division will consolidate from several locations; its initial brief sought up to 25,000 sqm.
It will join Cancer Council Victoria and the Cancer and Eye Research Centre at the 11 level, 26,300 sqm A-grade office, replacing a National Australia Bank office and data centre, which Golden Age and Time & Place sold to ARA Asset Management, now controlled by ESR, and QuadReal for $328m on a funds through basis in February, 2020.
Colliers’ Travis Myerscough and Andrew Beasley brokered the deal – the inner city’s biggest office leasing agreement since 2019 (story continues below).
It is also Melbourne’s largest inner-city or suburban office lease deal which wasn’t a pre-commitment for just over 10 years, they said; that was for a complex at Burnley, coincidentally also in the inner east.
Victoria Place is due for completion next quarter.
The Andrews government for the Suburban Rail Loop Authority recently outbid developers paying well over expectation for buy a prime Box Hill medical centre, it is speculated, to occupy/utilise.
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