Tenants flock to refurbished St James office complex
Juilliard Group's $120 million refurbishment of the landmark 1960s brutalist building has attracted law firm Holding Redlich as its anchor tenant.
Willis Group will relocate its Melbourne headquarters in April after taking a floor of more than 2300 square metres. The company is giving up three floors at 570 Bourke Street.
It marks the second major deal for 555 Bourke Street, with about 44 per cent of its 20,000 sq m of office space leased. Industry sources say rents are about $400 per sq m.
"We've also been seeing some strong interest in taking up that vacancy from another name brand tenant," said Stuart Colquhoun, Jones Lang LaSalle's head of office leasing.
CBRE had leased 6500 sq m to Holding Redlich last year. A campaign to lease about 3000 sq m of retail space in the complex's distinctive L-shaped plaza is also reportedly under way.
The heritage-listed St James complex was bought for $97 million in 2002 by two companies owned by the Werdiger family, which runs the Juilliard Group.
Frequently Asked Questions about this Article…
The St James office complex on Bourke Street is undergoing a $120 million refurbishment by the Juilliard Group. The project is a renovation of the 1960s brutalist, heritage‑listed building and was reported to be expected to be completed in a matter of weeks.
Two marquee tenants have been announced: law firm Holding Redlich (leased about 6,500 sqm via CBRE) as the anchor tenant, and global insurance broker Willis Group, which has taken a floor of more than 2,300 sqm and will relocate its Melbourne headquarters there.
About 44% of the complex's roughly 20,000 sqm of office space has been leased, which reflects the combined deals announced so far (including Holding Redlich and Willis Group).
Industry sources cited in the article say rents at the refurbished St James complex are about $400 per square metre.
The heritage‑listed St James complex was bought in 2002 for $97 million by two companies owned by the Werdiger family. The Juilliard Group, which is run by the Werdiger family, is leading the current refurbishment.
Yes. A campaign was under way to lease about 3,000 sqm of retail space in the complex’s distinctive L‑shaped plaza.
Willis Group is scheduled to relocate its Melbourne headquarters in April after taking a floor of more than 2,300 sqm at the redeveloped St James building. The move follows Willis giving up three floors at 570 Bourke Street.
CBRE handled the Holding Redlich lease, while Jones Lang LaSalle's head of office leasing, Stuart Colquhoun, commented that there has been strong interest from another name‑brand tenant for remaining vacancies — signalling healthy leasing demand for the refurbished St James complex.
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