Richmond Enters Era of Office Intensification

The transformation of Richmond from manufacturing to warehouse-converted-to-residential and now a new era of offices continues with plans for site east of Church Street and a new development hitting the block.

Seven buildings between 7 and 10 storeys have been completed in the suburb in Melbourne’s inner-east since 2021 and 10 are on the way, either recently approved or under construction.

The latests plans before the Yarra City Council are for a seven-storey office building with one level of basement, including a car stacker and end-of-trip facilities, designed by KUD Architects.

The block would comprise 2442sq m of net lettable area as well as terraced areas on level three and six. A void at ground floor would afford views to canopy trees.

Melbourne-based Directed Electronics chief executive Stavros Siolis is listed as the owner of a terrace house at 13 Amsterdam Street, Richmond as well as a two-storey office and furniture store on the site.

▲ The rise and rise of Richmond office developments—the suburb is transforming again from residential to commercial.

Meanwhile, to the west of Church Street, Curtis York has listed its recently completed seven-storey office building at 19 Cubitt Street, Cremorne with agents labelled the area “Melbourne’s most sought-after city fringe”.

JLL senior executive Tim Carr said the building was surrounded by some of the country’s most prolific businesses including Adidas, The Commons, Reece, Seek and Carsales.com.au.

“Nineteen Cubitt Street is one of the only new office assets in Victoria to be presented for sale since our transaction of a similar asset across the train tracks at 45 Wangaratta Street, which was sold to a Hong Kong family office on a 3.7 per cent yield approx,” Carr said. 

The building offering 1342sq m of office space is 83 per cent leased has has one level per tenant, end-of-trip pods, public meeting rooms and a private rooftop. 

▲ The Curtis York office building for sale on Cubitt Street.

Urbis detailed 17 developments shaping the future of the Richmond and Cremorne in its report supporting the 13 Amsterdam Street proposal. This is the 19th to be lodged—the 18th, a self-powered tower, went on exhibition this month. 

“The subject site [at 13 Amsterdam Street] is within the Church Street commercial area, which forms a key transport and economic spine within the City of Yarra,” the Urbis report said.

“However, to the east is a lower-scale residential context within the wider Barkly Gardens Precinct.

▲ Recent and emerging developments around Church Street mentioned in the Urbis report.

“The existing scale of the Church Street activity core is characterised by building heights of generally between 2 and 10 storeys, with single-storey buildings dispersed throughout. 

“Several higher density developments of up to 15 storeys have recently been approved in the surrounding area, including some currently under construction.”