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Fortis has completed structural works for its South Melbourne commercial scheme that will be parent company Pallas Group’s headquarters in the Victorian capital.
The $50-million seven-level development at 122 Moray Street will comprise 3627sq m of office space and 274sq m of ground floor retail.
Pallas Group has pre-committed to 40 per cent of the FK-designed building—Fortis general manager for development in Victoria Sarah Vaughan said that it “will become our new Melbourne headquarters, bringing our teams together in a space that truly reflects our values and ambitions”.
The building features private terraces, indoor-outdoor links and a furnished communal rooftop. Facilities include a private tenant sauna and end-of-trip areas.
The site is in the Eastern Business District of South Melbourne, within 2km of the Melbourne central business district across the Yarra River, and close to Kings Way, Monash Freeway, the new Anzac Station and South Melbourne Market.
Fortis head of acquisitions for commercial properties in Victoria and South Australia Jordan Winada said the project added to Fortis’s record at South Melbourne, where it continues to “deliver spaces that attract global businesses and top-tier hospitality operators”.
Fortis bought the 700sq m site at the end of 2021 for $9.25 million and won planning approval for the project in April 2023 from the City of Port Phillip.
Pallas Capital, under parent company Pallas Group, funded the development. Construction began in October 2023. Completion is scheduled for the second quarter of next year.
Fortis, the property development arm of Pallas Group, has about $5 billion in projects under construction or being assessed across Australia.
The developer’s current projects include a commercial development at Manly and a $170-million luxury home furnishings gallery in Double Bay, which would integrate artistic installations, an interior design studio and a rooftop restaurant.
In July 2025, Fortis filed plans to add three storeys to a Rose Bay project, taking advantage of NSW low and midrise reforms.
The company has also expanded into Brisbane, where it is planning developments at New Farm and Hamilton.
