ProfileLocated 21 kms to the South East of Melbourne’s CBD the Monash municipality is Melbourne’s second largest employment destination and arguably the Victoria’s most future focused business hub .
Whilst Melbourne is currently experiencing a wave of tenant migration back to the CBD and Docklands, we believe that leasing office space in the Monash/Mulgrave is likely to pay dividends in terms of both value for money and lifestyle.
Here are seven reasons we recommend renting an office in Monash City/Mulgrave.
1. A desirable place to live and work
Comprised of the suburbs of Ashwood, Clayton, Glen Waverley, Hughesdale, Huntingdale, Mount Waverley, Mulgrave, Notting Hill, Oakleigh, Oakleigh East, and Wheelers Hill, Monash City is one of Victoria’s most populous and sought after municipalities .
With its leafy streets and quality amenities like schools and hospitals, Monash is an area where people want to live and work.
2. A skilled workforce at your doorstep
Renting an office in Monash/Mulgrave gives your business access to a wealth of talent residing nearby. In fact 30% of Monash residents have a Bachelors Degree qualification or higher, compared with the Greater Melbourne average of 23%. The population is not only skilled, it is diverse with 45% of residents hailing from overseas.
Monash City /Mulgrave is easily accessible by rail with a train line running from the CBD to Glen Waverly. There are also a number of bus routes around the area. The district’s connectivity to greater Melbourne is set to improve with the proposed widening of the Monash Freeway.
Another lifestyle reason to rent office space in the Mulgrave area is its proximity to a fantastic array of retail facilities. Australia’s largest shopping centre – the hugely popular Chadstone centre is nearby. A selection of smaller, localised centres such as the Pinewood Shopping Centre are easily within reach.
5. A major business hub
The Victorian State Government has identified the Monash area as one of three established ‘National Employment Clusters’ reflecting its economic importance to greater Melbourne. This means that businesses leasing office space in the area are likely to benefit from proposed State Government infrastructure investment under Plan Melbourne .
6. An innovation centre
Mulgrave/Monash shaking off its industrial past to become of Australia’s most future focused business precincts. The area is home to Australia’s largest University (Monash University) and is a hive of advanced technology and innovation.
Some of the institutions rubbing shoulders area include the Australian Synchrotron, the Melbourne Centre for Nanofabrication, Monash Medical Centre, CSIRO, Monash Business Incubator and the Monash Enterprise Centre. Renting an office in the Mulgrave/Monash area puts your business in the same neighbourhood as these cutting edge, technological dynamos.
7. New business parks
In line with Mulgrave/Monash’s modernisation, a number of new business parks have emerged such as the Axxcess Corporate Park and Spectrum Business Park in Mount Waverly as well as the Nexus Corporate Estate in Mulgrave.
The business park model has great appeal for businesses looking to rent campus style accommodation with larger floorplates. The Nexus Corporate Estate is particularly attractive due to its impressive environmental credentials and upmarket catering and dining facilities.
Despite the considerable lifestyle and business advantages on offer, vacancies in the Monash/Mulgrave are on the rise. Net face rents are stagnating and even falling in some building categories on the back of an influx of new supply and the CBD migration trend.
In our view the current market climate represents a great opportunity for astute organisations to lease office space in the area.