Popular public school leases city office for campus
EXCLUSIVE
University High School will develop a city campus to complement its Parkville college.
In a significant deal for landlord, Forza Capital, the public educator has leased 1891 square metres – two floors – at 399 Lonsdale Street, abutting Hardware Lane, half a block west of Elizabeth St and Melbourne Central.
From January, the bespoke space will accommodate over 400 Year 9 students and staff.
Cushman & Wakefield’s Nick Sharkey and Edward Mass are leasing the building for Forza, led by Ashley Wain.
Also today we are reporting the fund manager and investor, in a counter-cyclical play, bought a majority vacant Mont Albert office – the long time former Salvation Army headquarters – for a high 11.3 per cent fully let market yield.
Forza targeting education groups
Forza paid $86.8 million for 399 Lonsdale St in late 2021, recently completing a green focused refurbishment of the 11 level, 10,033 sqm building (story continues below).
The landlord also obtained a 9B classification – allowing the asset to be used by schools; other tenants include Academia, the Australian Technical and Management College and The Hotel School Melbourne.
The property has 14 car parks too.
New Uni High campus
University High’s Lonsdale St space will be configured with 18 classrooms, five offices, a lab, breakout area and reception.
Another five rooms will be utilised for meetings and storage.
The lease deal comes five years since private college Haileybury acquired the ex-Mushroom Music and Reebok headquarters on Dudley Street to expand a West Melbourne ‘vertical campus’ opened in 2017, accommodating some 750 students.
Subscribe to our newsletter at the bottom of this page.
