A landmark education property in the heart of Melbourne’s university precinct has been put up for sale, with an expected price in the mid-$50 millions and potential to attract interest from education operators, institutional investors and developers.
The seven-level building at 200 Victoria Street is anchored by Trinity College, part of the University of Melbourne, which occupies approximately 4,852sqm across four floors for its Pathways School. The school provides foundation studies for international students seeking entry to the University of Melbourne.
The property comprises 7,805sqm of net lettable area on a 1,655sqm freehold site, positioned between the University of Melbourne and RMIT University. Its location, existing education tenancy and potential for alternative uses make it an interesting proposition in a market where education infrastructure and student accommodation continue to attract investor attention.
Trinity College’s existing lease runs until November 2033, with further options extending to 2043. The college has also committed significant capital to the building, recently expanding its operations and upgrading teaching and learning facilities.
However, the property is not fully occupied. Approximately 2,638sqm is currently available for immediate occupation or leasing, while the building has a weighted average lease expiry of 4.3 years by income. Once fully leased, the property’s forecast net annual income is approximately $4.4 million.
The building has undergone extensive refurbishment in recent years, including upgrades to its ground-floor lobby and retail space, lift lobbies, amenities and end-of-trip facilities. All upper levels hold Class 9B certification, providing flexibility for education-related uses.
For prospective buyers, the opportunity extends beyond its current education tenants. The property’s substantial freehold landholding and flexible zoning could support alternative uses, including purpose-built student accommodation (PBSA), co-living, build-to-rent housing, healthcare and life sciences, subject to planning approvals.
That potential is particularly relevant given the property’s position between Melbourne’s university and biomedical precincts. It is also just 250 metres from the new State Library Station and opposite the start of the Elizabeth Street free tram service.
Knight Frank agent Trent Preece said the property represented a rare opportunity to acquire an institutional-scale education investment in what he described as Australia’s premier education precinct.
He pointed to Melbourne’s international student appeal, its ranking as Australia’s leading student city and fourth worldwide, and the long-term lease to Trinity College as key elements of the investment proposition.
Lemon Baxter’s Thomas Blencowe said the combination of established income, vacant space and longer-term development potential offered investors several ways to generate value.
The sale also highlights the broader intersection between international education and property investment. Universities and pathway providers require specialised teaching facilities, while the growth and changing needs of international student populations continue to underpin demand for accommodation and supporting infrastructure.
The question for prospective buyers will be how much value they place on the property’s established education use compared with its potential for redevelopment or alternative occupation. With more than 2,600sqm available and a long-term tenant already in place, the asset offers both an immediate leasing proposition and a longer-term development play.
The property is being offered through an International Expressions of Interest campaign managed by Knight Frank and Lemon Baxter on behalf of Realmont Property Partners and its capital partner.
Expressions of interest close on Friday 4 December 2026.
