Melbourne, 20 October 2015 – Southbank is emerging as one of Melbourne’s most in-demand regions, with commercial tenants vying to gain a presence in the sought after market.
Demonstrating this trend, Australian education and training provider, Real Institute has recently leased a whole floor office in the area. The business acquired a 1,300sqm space, located at level 3, 4 Riverside Quay, to accommodate its expanding national operations.
CBRE’s Anthony Park negotiated the agreement on behalf of Cargill Australia, while Jay Pavey from Leon Baxter acted for Real Institute. The tenant has committed to a three-year term.
Mr Park said Real Institute was attracted to the space due to Southbank’s prime location, underpinned by convenient access to lifestyle amenities and transport linkages.
“The Southbank precinct is currently benefiting from significant residential and commercial growth, with a number of businesses including Real Institute and PWC committing to spaces in the area.”
“The limited A-grade space currently available along St Kilda Road is prompting tenants to consider other city fringe locations, such as Southbank, which is further encouraging the growth of the area.”
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CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.