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News release


Cardno shaping the future of iconic Melbourne CBD building

10 year lease agreed at 501 Swanston Street

​MELBOURNE, 26 March 2014 - ASX200 professional infrastructure and environmental services consultancy, Cardno has secured over 4,700sqm at the iconic former Ansett building at 501 Swanston Street, on the northern fringe of Melbourne’s CBD.

JLL’s Michael Simonds introduced Cardno to the Landlord and assisted with negotiations on the 10 year deal with rental for its tenancy in the vicinity of $400-450/sqm gross.

Consolidating multiple city fringe and suburban locations, Cardno will occupy five levels of the landmark building, currently undergoing significant extension, redevelopment and refurbishment works, including a $7 million environmental upgrade.

Originally constructed to house Ansett Australia in 1978, 501 Swanston Street is a well-recognised building within the Melbourne city skyline due to its distinguished hexagonal shape and prominent corner location. Positioned on the northern fringe of the CBD, the property is in close proximity to the Queen Victoria Market, the City Baths, Melbourne Central Station and a wide range of business, transport and leisure amenities.

The premium office tower is being rejuvenated to not only restore its original stature, but to enhance its future by becoming more energy efficient. Some of the works that will complete prior to the end of calendar 2014 include a rooftop garden terrace, completely refurbished lobby with new café/restaurant, fully equipped gymnasium with sleeping pods and Pilates room, brand new end-of-trip facilities including new showers, change rooms and lockers, new and expanded bike storage and new state-of-the-art lifts, air-conditioning, heating, water reticulation and solar energy systems, anticipated to cut energy bills by approx. $80,000 a year and carbon emissions by 607 tonnes.

JLL’s Director, Office Leasing,  Michael Simonds said, “The 11+ year WALE of the building is unheard of in the current climate, and the Landlord’s amenities-centric approach to the building increases the attraction of the building as a destination for tenants and their staff.

“Securing a traditional ‘one-stop-shop’ office/warehouse in the CBD is extremely rare, and being in close proximity to RMIT University makes 501 Swanston Street an ideal location for Cardno, assisting them in recruiting the best staff.

“Cardno’s centralisation in this location culminated after an exhaustive search exceeding 12 months, proving tenants are prepared to wait for the right opportunity when consolidating.”