University leases office for campus
Monash University will relocate the School of Public Health and Preventative Medicine between Melbourne offices.
The group has signed a lease deal for 6754 square metres – two floors – at 509 St Kilda Road, owned by Sunkin Property Group.
It will quit #553 in the street where it has occupied 8500 sqm over five floors for nine years.
That building has been owned since 2017 by the Andrianakos family’s Nikos Property Group.
The deal comes a week since we reported the University of Melbourne bought a Carlton strata office for over $17 million.
Double fronted office
The seven year Monash lease deal is the biggest for St Kilda Road since 2021 – when Alfred Health signed up for all of #541, with 8247 sqm over eight levels.
Sunkin paid receivers for Singapore’s Healthway Corporation $70m for #509 in 2019.
On a double block near the new Anzac station, it is renown in leasing circles for its large floorplates, exposed to Fawkner Park, and large entrance foyer.
Also occupied by AIA and Webjet, the office has a ground floor café, gym and 325 car parks.
Monash professor Stephen Jane said the building’s “walking distance” proximity to the Alfred Health Precinct was another driver.
“Relocating to 509 St Kilda Road will provide expanded teaching space essential for our large student cohort whilst retaining close proximity to the Alfred Precinct, which is critical for our research and healthcare partnerships,” he added.
“The building’s large floor plates and modern facilities will support our teams and future growth,” according to the executive.
Sunkin is now fitting out the space.
Monash will move in next July. It was represented by JLL’s Peter Walsh and Ed Hill.
Colliers’ Matt Cosgrave, Nitesh Patel and Chloe Hayne are the building’s leasing agents.
Following the university deal, there is about 10pc of the 19,645 sqm office to fill.
This pocket of town, zoned Melbourne with postcode 3004, is about five kilometres south of the CBD.
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