Holding Redlich to anchor Bourke Street tower

Holding Redlich to anchor Bourke Street tower
Larry SchlesingerDecember 8, 2020

Holding Redlich will become the anchor tenant of the St James office project being developed by the Juilliard Group in the Melbourne CBD. 

The law firm has committed to lease the top two levels of the 555 Bourke Street building together with a portion of the ground floor. 

CBRE brokered the 6,500-square-metre lease, which will provide the law firm with a dedicated entry and lobby space.


Holding Redlich senior partner Chris Lovell says the location, overall design and quality of the building are the three main drivers underpinned its decision to relocate the firm to 555 Bourke Street from its current offices at 277 William Street. 

The Juilliard Group is currently redeveloping the St James precinct and office building to include two additional floors on top of the current structure as part of a comprehensive refurbishment of the existing floors and an active precinct of 3,000 square metres of food and retail outlets. 

The Juilliard Group hopes to achieve a five-star NABERs rating for the project. 

CBRE has also been appointed to lease the remaining approximate 14,000 square metres of office space in the development that is due for completion by mid-2012.

It is speculated that St James will be seeking rents in the mid $400s net for the remaining space, which is commensurate with prime market rentals in 2012.

CBRE regional director of office services Hamish Sutherland says the balance of the space will enter the market in mid-2012, “coinciding with a forecast shortage of good-quality office accommodation in the Melbourne CBD”.

The latest Property Council office vacancy statistics pinpoint Melbourne as having the lowest vacancy rate of Australian’s mainland capitals as at June 30, 2010.

Six months of strong tenant expansion pushed the CBD vacancy rate down to 5.8% - the lowest level since before the global financial crisis.

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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