A sweet lease for snack food giant

The company behind Cadbury and Kraft foods has taken out the biggest office lease within Melbourne’s city fringe this year.

Mondelez International, which owns the two brands, has signed a new 10-year lease at 75 Dorcas St in South Melbourne and will occupy 4600sqm of office space across two floors from late 2015.

The ninth and tenth floors of the building became available after long-time tenant ANZ renewed its lease in March but reduced the size of its tenancy.

Colliers International’s Ben McKendry and Rob Joyes facilitated the latest deal, with McKendry saying an extensive refurbishment attracted Mondelez to the building, which is also bordered by Kings Way.

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“This building has been occupied by ANZ as its sole office tenant since its inception in 2002, so as part of this leasing campaign it was decided that the opportunity was ripe to reposition the building to take it into a new era of office accommodation,” McKendry says.

The offices lie between Albert Park, the CBD and the Botanical Gardens

“It was already a relatively new building, which is a rarity in the city fringe office market in its own right. However, there was definite potential to take it to the next level with refurbishments that would improve the base building services, entry lobbies and end-of-trip facilities on offer to occupants.”

Colliers is now marketing the last remaining 1525sqm in the building, which lies just 1.5km away from Melbourne’s CBD and Flinders St station.

McKendry says the office is perfectly positioned, with 360-degree views of Albert Park, the CBD and the Botanical Gardens.

“The ever-popular Clarendon Street retail precinct is only a short stroll away, providing staff with access to supermarkets, banks, and a vast array of shops, cafés and restaurants,” he says.