Developer Time & Place and joint-venture partner MaxCap Group have been greenlit for their nine-storey office tower in inner Melbourne.
The tower is planned for a 2678sq m site at 75-119 Cubitt Street, Cremorne, 3km east of the CBD.
The premium-grade office tower will offer 13500sq m of space with an extensive communal garden and outdoor space, food and beverage offerings, wellness facilities and small-scale office spaces on the ground floor.
There will also be about 900sq m of balcony and terrace spaces, a 500sq m rooftop garden, and “enhanced end-of-trip facilities which will encompass a clubhouse-style offering”.
There will be two levels of basement carparking.
According to the partners, “the importance of well-being and sustainability among modern businesses” will be acknowledged by the building’s design optimising water and energy capture, “while each facade will be designed based on its orientation, allowing for optimal thermal comfort and energy efficiency in line with 6-Star Green Star rating and 5.5 Star NABERS targets”.
The tower has been designed by fjcstudio, who also designed Victoria Place, Time & Place’s East Melbourne office project.
Time & Place development director Nick Paciocco said that with the permit now approved, “we’re excited to commence works and bring the plans to life”.
“With a rising reputation as a tech hub, Cremorne has seen rapid growth in recent years, and our Cubitt Street project will offer premium office space for a modern way of working,” he said.
MaxCap Group head of direct investment Simon Hulett said it was “a significant milestone for this project and continues the recent success for MaxCap of de-risking our portfolio of investments across our Diversified Opportunity Fund”.
A date for work to begin is yet to be set.
This year has been a busy one for Time & Place including filing plans to amend a planning permit for a Melbourne city site it bought from rich-lister Robert Magid last March for $50 million.
Also this month the developer with joint venture partner Corsair Capital won approval for their mammoth mixed-use project for the Alphington paper mill site in Melbourne’s north-east.
