399 Royal Parade, Parkville


399 Royal Parade is located 2km north of the Melbourne CBD, Parkville is within Melbourne’s Biomedical Precinct where many research institutions are located, including the Royal Melbourne Hospital, Royal Children’s and Women’s Hospitals, University of Melbourne and the CSIRO's Division of Health Sciences.

Parkville has been home of the Faculty of Pharmacy and Pharmaceutical Sciences since 1958, and the faculty is the top school of pharmacy and pharmacology in Australia and second best in the world.

Asset Information

  • Year built1970
  • TitleFreehold
  • Asset locationMelbourne Fringe
  • ZoningCommercial 1
  • Site area (hectares)0.5
  • Lettable area ('000sqm)13
  • Lettable area adjusted for ownership ('000sqm)3.0
  • Number of buildings1
  • OwnerDHPF
  • Ownership (%)23
  • Co-ownerDHPF
  • Major tenantMonash University
  • Acquisition dateJune 2021
  • Independent valuation dateMarch 2022
  • Leased by area (%)100
  • Weighted lease term by income (years)10.1
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