Vicland Reveals 12-Storey Cremorne Office Project

Vicland Property Group has lodged plans for a mid-rise commercial development in Melbourne’s inner east suburb of Cremorne, a fast emerging hub for the tech and creative industries.

The stepped, 12-level glass building featuring more than 17,900sq m of office space and 2100sq m of retail space on the lower levels will replace three industrial buildings at 31-53 Cremorne Street.

Vicland, led by Bill McNee, acquired the 3500sq m site from Blazer Clothing founder Peter Murray late last year in a $53.5-million deal.

Murray had amalgamated the site, consisting of two smaller parcels at 31 Cremorne Street and 33-37 Cremorne Street and a larger 2400sq m parcel at 41-53 Cremorne Street, in stages over several years.

Under plans designed by Hassell, Vicland intends to build a 12-level office building, envisaged as a digital hub and innovation precinct, with a four-storey podium which, if realised, will hold two street frontages to Cremorne and Dove streets.

The office block will sit above two basement levels for more than 80 vehicles and will provide end-of-trip facilities. It will be topped with a full-floor rooftop terrace and will also feature further terraces above level 11 and above the building’s podium on level five.

▲ Bill McNee’s Vicland Property Group has lodged plans for a large site it purchased late last year in Cremorne. Image: Hassell

Vicland, a private developer already busy with commercial projects across the inner city, targeted the site on the doorstep on the CBD as it presented an opportunity for a large-scale commercial development due to its height precedents.

The developer had also been buoyed by its recent office development in neighbouring Toorak, which has proved extremely popular with businesses relocating from the city.

Once working class and industrial, Cremorne is rapidly being transformed into an upmarket office precinct with major players such as Tesla, Uber, the Walt Disney Company, Carsales.com.au and REA Group already in the neighbourhood.

The suburb, along with nearby Richmond and Burnley, is on the fringe of Melbourne CBD before the city spreads out into the leafy eastern suburban belt.

Domain and MYOB are also in the area, while Australia Post has committed to a new building being developed by Charter Hall on Richmond’s Swan Street.

In May, ASX-listed hiring platform Seek completed construction of its new $150-million headquarters, similarly designed by Hassell, at 60 Cremorne Street.

▲ The 3500sqm block was previously owned by Blazer Clothing founder Peter Murray.

A number of new developments and approvals in the suburb include Little Projects’ 8500sq m office building at 34 Cubitt Street, Alfasi Group’s $150-million project at 510 Church Street and Fortis’ $40-million development at 65-81 Dover Street.

For Vicland, the development marks an entry into Cremorne and its third commercial project with two projects in the neighbouring suburbs of South Yarra and Toorak.

In South Yarra, Vicland has plans for a commercial and retail development at 162-164 Toorak Road while in Toorak, the developer is advancing on a speculatively built $300-million office building at 489-505 Toorak Road, ​​after paying $80 million for the site in 2019.

The eight-level Toorak office building, known as St Germain, features more than 10,000sq m of office space and 3500sq m of retail space on the lower levels. 

Last year Vicland also successful exited from another office development in South Yarra, selling the 6300sq m building to German fund manager Real I.S. for $75 million.

Vicland paid $12.6 million in late 2018 for 11 Wilson Street—then a multi-level car park abutting Chapel Street’s Jam Factory—buying it from Jam Factory owner and developer Newmark Capital.