Accord Property Group puts $100m Next-Generation Office on the market

Accord Property Group is bringing a cutting-edge commercial development to market in the heart of Melbourne’s most anticipated biomedical and life sciences hub, with the upcoming realisation sale of 88 Laurens Street, North Melbourne. 

This brand-new office building, with a guide price of over $100 million, represents a major milestone in the transformation of the Arden Precinct, a 13.5-hectare urban renewal project that is set to shape the future of collaboration in the life sciences, biomedical, technology, and education sectors.

The Victorian Government’s ambitious vision for the Arden Precinct includes the creation of a vibrant community projected to support 34,000 jobs and house 20,000 residents by 2051. 

Centrally located between North Melbourne Station and the soon-to-be-completed Arden Station, 88 Laurens Street will benefit from exceptional transport connectivity. With Arden Station set to open in June 2025, the office building is ideally positioned to attract businesses keen to be part of Melbourne’s thriving biomedical ecosystem. A short two-minute train ride will connect tenants to the globally renowned Melbourne Biomedical Precinct, with Melbourne’s CBD just five minutes away.

Accord Property Group is positioning 88 Laurens Street as a cornerstone of the Arden Precinct’s future, showcasing world-class facilities, abundant natural light, and open-air terraces that are designed to set a new standard for commercial offices in Melbourne’s inner north-west. 

For sale through Leigh Melbourne and Nick Rathgeber of Cushman & Wakefield, the office tower spans 12 levels, with a total net lettable area (NLA) of 17,781sqm. The asset sits on a 2,678sqm site and boasts 247 car parks and 162 bike spaces, offering tenants a rare combination of convenience and innovative design.

Leigh Melbourne believes 88 Laurens Street will lead the way in workplace innovation. “As the first major commercial development in the Arden Precinct, 88 Laurens is changing workplace design and investment expectations. Its strategic location and best-in-class features make it an ideal base for companies in the biomedical and life sciences sectors,” he said.

The sustainability credentials of 88 Laurens Street are another key drawcard for potential investors. The building is targeting a 5.5-star NABERS Energy rating and a 5-star Green Star Design rating, aligning with growing demand for environmentally conscious, energy-efficient commercial spaces. 

Nick Rathgeber highlighted the investment appeal of 88 Laurens saying “The building’s combination of cutting-edge design, sustainability features, and its proximity to key transport links and the Melbourne Biomedical Precinct makes it a unique opportunity for investors. 

“With its potential for high returns and appeal to top-tier tenants, 88 Laurens is well positioned to capitalise on the precinct’s growth,” he noted.

The Arden Precinct is poised to become one of Melbourne’s most significant biomedical and life sciences hubs, fostering innovation and collaboration between leading global companies, universities, and research institutes. 88 Laurens Street is set to play a key role in realising that vision, providing a world-class workplace for businesses at the forefront of these industries.

88 Laurens Street North Melbourne is for sale via international expressions of interest campaign closing Wednesday 20 November, 2024 at 4pm (AEST).