Leading commercial real estate agency, Lemon Baxter has today reported demand with data, noting an increasing number of international students currently choosing Melbourne as their place to study.
 
With borders now fully open, the return of international students has begun to bounce back, up 24% since the low numbers recorded in 2020. In 2022, there were 619,371 international students in Australia with over 60% of them choosing to study in Melbourne. A number that is projected to grow to 940,000 international students in Melbourne by 2025.

Jay Pavey, Director Lemon Baxter said, “Over the past six months, we have seen a rising demand from education providers seeking spaces across the city fringe. The need for educational spaces indicated that Melbourne is recovering from lockdowns and is once again attracting students to the vibrant Victorian capital.”

“The increasing number of international students will in addition provide a much-needed boost for employers within the retail and hospitality sectors, who have been struggling to find staff in recent years,” Mr Pavey adds. 

Lemon Baxter reports that many student providers are currently looking for space in the city fringe areas, with St Kilda Road being in high demand.

Lemon Baxter’s Leasing Consultant Shannan Ritchie said, “St Kilda Road had it hard during lockdowns as employees worked from home, but in recent months activity has started to pick back up and foot traffic is constantly increasing as people return to work in the surrounding offices.” 

Ms Ritchie, added “There are several benefits to the St Kilda Road location, with several public transport options along the strip and just a few tram stops to the CBD, Chapel Street and St Kilda, while also being, nestled between green spaces with both Albert Park and the Botanical Garden just a short walk away.”

“Tenants along St Kilda Road have been particularly drawn to the location, which is easy to access from various parts of Melbourne, and given the past couple of years challenges, rents along one of Melbourne’s busiest strips are still attractive,” Ms Ritchie concluded.

As a collective Lemon Baxter has Leased 2,670 sqm to education tenants last 6 months  they are finding value in properties $350-$450 sqm gross.

Lemon Baxter has recently secured the following deals with higher education providers, looking for space to cater to the increased demand from international student:

10 Queens Road, Melbourne 

492 St Kilda Road, Melbourne

1 Queens Road, Melbourne

52 Albert Road, Melbourne

120 Clarendon Street, South Melbourne

3 Bowen Crescent, Melbourne

For more information please contact the leasing agents form Lemon Baxter via the contact details below.