Premium EdTech training platform JR Academy have upgraded their business and premises by signing a long-term lease in a 2^nd generation spec fit out in 144 Edward Street. Following an initial lease expiry in 2021, following a comprehensive search of the market, the business decided to put their requirement on hold to gauge the education and economic markets for a period of 12 months, unsure how the pandemic would affect business. Having previously favoured 144 Edward Street, upon coming back to market this year, 144 Edward again was the clear favourite, separating itself from other options facilitating a premium offering with competitive metrics.

Through repositioning the business over the previous 12 months, the company was able to move away from student/client facing training towards 100% online operations. Though many landlords choosing not to permit student facing tenants within their buildings, this key change both assisted in opening their options in the market and enabled them to secure a more premium building, ensuring its superior office offering as opposed to working from home.

Having only been occupied for a period of 18 months prior to JR Academy taking on the space and still presenting very well, the deal echoes the markets appetite for quality fitted tenancies, in particular those that are 2^nd generation enabling tenants to take advantage of a quality fitted space on more attractive commercial terms. Both the tenancies overall quality and the buildings premium services including updated lobby and retail amenity, access control and close proximity to number of clients reassured the business they had made the right decision.

With well over 70,000 International students either returning or entering Australia to study over the last 12 months, many Education businesses are positive on the outlook for their sector with many scrambling to take on more space to set up and prepare, expecting that number to rise.

If you would like any further information on this deal or the building itself, please don’t hesitate to reach out at any stage to Patrick Lindores on 0438 147 287 or email at patrick.lindores@caden.com.au.