North Melbourne $100m Biomedical Tower on Block

The first major commercial property in North Melbourne’s rapidly developing biomedical and life sciences hub is expected to fetch more than $100 million. 

The recently completed 12-storey office tower within the Arden Precinct at 88 Laurens Street was developed by Accord Property Group.

Spanning 13.5ha, the Arden Precinct is expected to support about 34,000 jobs and accommodate 20,000 residents by 2051. 

This transformation is central to the Victorian Government’s ambition to enhance its biomedical industry, with plans for new hospital campuses, research institutes and technology companies poised to shape the area in the coming decades. 

The sale of the property is being managed by Leigh Melbourne and Nick Rathgeber of Cushman & Wakefield. 

▲ The tower is the first commercial building offered for sale in the precinct.

Positioned between North Melbourne Station and the soon-to-open Arden Station, 88 Laurens will be a five-minute train ride to the Melbourne Biomedical Precinct and the CBD. 

Arden Station is scheduled to open next year as part of the Sunbury to Cranbourne-Pakenham line. 

In line with the precinct’s reported commitment to sustainability, the tower boasts a 5.5-star NABERS Energy rating and a 5-star Green Star Design rating. 

These credentials are increasingly important to tenants seeking environmentally responsible spaces.