399 Royal Parade, Parkville
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.
- Year built1970
- Metro areaMelbourne, City Fringe
- Lettable area ('000sqm)13
- Lettable area adjusted for ownership ('000sqm)3.0
- Ownership (%)23
- Major tenantMonash
- Acquisition dateJune 2021
- Book value at ownership ($m)34.1
- Independent valuation at ownership ($m)32.0
- Market cap rate (%)4.50
- Initial yield (%)4.28
- Leased by area (%)100
- Weighted lease term by income (years)12.1