PDG Corporation has secured The Royal Melbourne Hospital as a major tenant customer at Stage 1 of its $1 billion Elizabeth North development.
The new 10-year lease will commence in February 2022 and will cover approximately 10,000sqm over 6 levels.
Elizabeth North is situated in the Northern gateway of the city and within Melbourne’s foremost biomedical precinct which is home to the University of Melbourne, hospitals and top research institutes. The development, which will be home to the new global headquarters of CSL Limited, draws on best-practice architecture, design and urban planning to provide global-leading organisations with innovative amenities.
“Securing a significant tenant like The Royal Melbourne Hospital is consistent with the strategy of attracting key health and global biomedical groups to this important precinct,” said PDG Founder and Managing Director Vince Giuliano.
“This long-term partnership will see our team working alongside The Royal Melbourne Hospital in providing their staff and patients with an unparalleled experience. We feel privileged to be able to support their vision in delivering best-in-class healthcare.”
“This milestone leasing announcement also demonstrates PDG’s ambition and achievements in the health and biomedical sector. We look forward to exploring more opportunities in this complex and technical space.”
CBRE tenant representatives Mark Bolis and Tom Backay acted on behalf of The Royal Melbourne Hospital.
“From a negotiation point of view, it was the ideal time in the market for The Royal Melbourne Hospital to secure this long term commitment. This continues the trend we have seen from tenants to take a flight to quality and to attract staff back to the office with an improved employee experience,” Mr Backay said.
Elizabeth North’s strategic location will help facilitate The Royal Melbourne Hospital’s existing relationships and collaborations with partners within the precinct. This new tenancy is located 400 metres from The Royal Melbourne Hospital’s main Parkville campus and adjacent to CSL Limited’s new 35,000sqm headquarters which is currently under construction and due for completion later this year.
PDG, along with builder Probuild, marked the completion of Elizabeth North Stage 1 in December last year. The landmark building is now 100% leased on long term leases with Melbourne City Toyota’s new flagship dealership and Woolworths Metro as tenants occupying the lower levels.