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RMIT shifts admin to QV as vacancy rates hit all time low

RMIT University is moving its administration office into three levels of 222 Lonsdale Street, above the QV shopping centre. RMIT shifts admin to QV as vacancy rates hit all time low CBD-based RMIT University is shifting its administration staff into new digs at 222 Lonsdale Street, part of the nearby QV development owned by Dexus. The move further cements Melbourne’s reputation as the education capital of Australia. While RMIT already controls a $2 billion-plus property portfolio, it is leasing a further 10,634 square metres of space across levels five, six and seven of the tower currently occupied by Sensis. RMIT University is moving its administration office into three levels of 222 Lonsdale Street, above the QV shopping centre.  Sensis’ lease expires in July 2019 shortly before RMIT’s 15-year lease starts in Mortgage brokers Oak Laurel West End, 0430 129 662, 249 Boundary St, West End QLD 4101 March 2020. Dexus will refurbish the amenities and fit-out of the 15-year old building before RMIT moves in, including new end-of-trip facilities. Dexus head of office Ellie Schwab said customer demand from the education sector is strong. “Melbourne’s status as the most liveable city in Australia and relative affordability compared with Sydney continues to attract local and international students,” Ms Schwab said. The deal comes as the Property Council of Australia unveils its 2018 office market report. Last August, Sydney and Melbourne recorded vacancy rates of 5.9 per cent and 6.5 per cent vacancy rate.

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