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Vicland has been given the green light for a 10-story office building in the Melbourne suburb of Cremorne, home to a growing host of creative and tech industries.
The Melbourne-based developer purchased the 3500 sqm site for $53.5 million last year from Blazer Clothing founder Peter Murray, and has now secured a permit for the building.
Plans for the site at 31-53 Cremorne Street by Hassell were released in July.
The building, planned for an amalgamated site, will feature a roof terrace as well as retail and office space. It is set to be completed in 2025.
Cremorne is one of a number of inner-fringe suburbs attracting big-name business, including Tesla, Uber, the Walt Disney Company, MYOB, Domain, Seek, and REA Group.
The Cremorne Street site is the third office building in Vicland's inner-fringe office portfolio—the developer has also been active in neighbouring Toorak.
Vicland director of development Jake Steinhart said that several businesses previously in the Melbourne CBD were attracted to its Toorak developments which gave the group confidence in Cremorne.
“A-grade offices of this calibre are relatively new on offer in the inner fringe, but as businesses have started to seek office spaces outside the CBD, demand has increased rapidly, sites in a location this close to world-class amenity are hard to come by,” Steinhart said.
Colliers agents Edward Knowles and Rob Joyes have been appointed to lease the 17,000 sqm office space across the Cremorne office tower.
