Zektin Engineering to Lease Former Healthscope House, Parkville

Zektin Engineering, part of the design services group Zektin Group, will pay a starting rent of about $450,000 a year, or $240 a square metre, to lease the 1871-square-metre building, at 407 Royal Parade, opposite Princes Park.

The building, known until recently as Healthscope House, includes 575 square metres of ground-floor space and 1256 square metres upstairs. The property has 38 parking spaces.

Zektin will consolidate staff from offices in Heidelberg and Thornbury.

Lemon Baxter director Michael McClusky, who leased the property, said biotech and pharmaceutical companies were attracted to the Parkville area because of the nearby University of Melbourne and hospitals, which formed a key activity centre.

The new Zektin building is also near the Monash University’s Parkville campus, known as the Victorian College of Pharmacy.

The Parkville move also means Zektin will be closer to the $140 million Bio21 Molecular Science and Biotechnology Institute.

Healthscope outgrew the property in late 2007, leasing 4800 square metres of office space at 312 St Kilda Road, opposite the Shrine of Remembrance and Victoria Barracks.

That building was put up for sale shortly after Healthscope leased offices. It sold to interests associated with the Myer family for $49.06 million.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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