This article is from the Australian Property Journal archive
TRINITY College at the University of Melbourne will open a new CBD campus within a future $750 million biomedical and educational development on the former Melford Motors site on the city’s northern edge.
The College has taken 9,500 sqm for a vertical campus designed by Gray Puksand that will house its international Foundation Studies course above the existing heritage building.
PDG owns the development across stages one and two. The future precinct will also be built across the adjoining Bob Jane T-Mart site and include three towers set for completion by the middle of 2022.
Trinity’s 10-year lease brings stage one to 100% leased, with construction to begin in the coming months. It will share site with Melbourne City Toyota.
Toyota Australia had sold the dealership at 611-681 Elizabeth Street to PDG two years ago, when the site was slated for a four-tower project with 310 apartments, nearly 700 student accommodation units, and around 5,200 sqm of commercial space.
Plans were recently lodged for a 20-storey commercial tower of 17,000 sqm at 683-699 Elizabeth Street, reportedly owned by Bob Jane’s ex-wife Geraldine. Gray Puksand and Cox Architecure lodged the proposals for each site to be developed as part of the same master plan.
The site is a short distance from University’s Parkville campus, Melbourne’s hospitals precinct that includes The Royal Women’s and The Royal Melbourne hospital and the Peter MacCallum Cancer Centre, and the future underground Parkville station as part of the Metro tunnel project.
Colliers Edward Knowles and Michael Darvell negotiated the Trinity College lease.
The deal follows Swinburne University reportedly acquiring the eight-level Invicta House building at 226-232 Flinders Lane in the CBD for around $45 million, which it will use for a new vertical campus.
Invicta House was bought from the Lazarovits family and currently is currently occupied by the Melbourne East Police Station and Greenhouse Backpackers.
Australian Property Journal
