This article is from the Australian Property Journal archive
DEMAND for childcare centres in Melbourne's CBD has underpinned the recent lease of a 1,360 sqm property opposite the Flinders St station.
Located at 276 Flinders St in Melbourne Square, the premises comprises 810 sqm of outdoor rooftop space and 550 sqm of indoor space. The lessee has committed to a ten-year lease in the 15-storey building. Initial rent is $350,000 net per annum, with 3.5% increases each year.
CBRE’s Mark Bolis, who negotiated the deal on behalf of lessor Fivex Pty Ltd, said the property’s functionality as a childcare space was the driving factor behind the deal.
“There is huge demand for early learning sites in Melbourne, and this space fit the needs of the lessee perfectly. Its central location and distance to Flinders St station was another major drawcard,” he added.
“Being part of the transformation of this iconic building into a vibrant part of Melbourne has been a highlight of my career,” Fivex director Joshua Berger said.
Property Review
