The fund acquired a 10,033m² freehold office asset in Melbourne’s CBD, featuring strong natural light and 14 car parks. Initially acquired with a plan to convert to traditional office, the asset instead capitalised on surging demand in the education sector — achieving equivalent rents without repositioning costs. Notably, two floors were recently leased to the Victorian Department of Education for the site of University High School’s Year 9 Campus.
We adapted our strategy midstream to capitalise on a booming education market — delivering strong income without the cost of conversion, while preserving long-term upside through potential repositioning into traditional office.
