Victoria Police complex released onto market

If walls could talk, the stories from the Victoria Police offices on Melbourne’s St Kilda Rd would be worth the price of the lease alone.

The long-held building opposite the Botanical Gardens and Shrine of Remembrance is now up for lease, with the police making the long-awaited move to a new complex at Docklands.

At 16,000sqm, the 21-storey building at 412 St Kilda Rd features 14 levels of office space and a seven-level carpark, and is one of the largest office buildings on Melbourne’s iconic tree-lined arterial.

This is the largest, most significant vacancy to hit the St Kilda Road market in the last five years, since NAB moved out of 509 St Kilda Road

Colliers International and Thorburn Property have been appointed to lease the property, with Thorburn Property’s Kenny Thorburn describing it as a rare opportunity.

“This is the largest, most significant vacancy to hit the St Kilda Road market in the last five years, since NAB moved out of 509 St Kilda Road,” Thorburn says.

“Vacancy on St Kilda Road continues to decrease and large options are scarce. With its expansive floor space, prominent signage options, outstanding views and coveted position at the highly sought-after northern end of St Kilda Road, this space will attract keen interest from tenants.”

Despite the building being touted as a possible residential site, Mr Thorburn says it is expected to remain an office complex for the foreseeable future.

“There is substantial demand for office space in this tightly held market and buildings with large floors and excellent views such as 412 St Kilda Road still offer many of the key draw cards that attract major occupiers,” he says.

“We expect the ongoing use of this site as office accommodation will attract keen interest from companies looking to expand within or enter this tightly held office market.”