Fortis has been given the go-ahead to construct a new commercial office building in South Melbourne due to the high demand for premium office space in city-fringe locations. The $50 million project, located at 122 Moray Street, has been approved by the City of Port Phillip and was acquired in an off-market deal for $9.25 million at the end of 2021.
The seven-storey building, designed by Fender Katsalidis, will provide Grade A office space and retail on the ground floor. The lower levels will feature a winter garden, expansive terraces, and premium end-of-trip facilities, creating a dynamic work environment for employees. The location will offer uninterrupted views of the CBD and boasts convenient access to arterial roads and key business areas. The site is also situated within walking distance of various public transport options and retail precincts.
The Fortis commercial office project will be funded by Pallas Capital, a real estate financier and investment manager, and the parent company of Fortis. Fortis Director Charles Mellick stated that the demand for premium office space in city-fringe areas, such as Cremorne and South Melbourne, remains strong. He added that the project would enable a lively work culture at a time when businesses are seeking ways to make the commute to work more appealing to their employees.
“122 Moray Street will be developed to facilitate a vibrant work culture, at a time when businesses are looking for ways to make the commute to work worthwhile for their employees. The project will present an enviable composition of location, quality, and amenities, and we are looking forward to delivering this fantastic project to the market over the next two years,” Charles Mellick, Director, Fortis.
The Fortis commercial office project will provide approximately 3,795 sqm of net lettable area on a site of around 700 sqm and is scheduled to begin construction in October. The South Melbourne Market and the upcoming ANZAC station are nearby neighbourhood precincts. Fortis is looking forward to delivering the project to the market in the next few years, having received the green light from the City of Port Phillip. The project is poised to meet the demand for high-quality office space in city-fringe areas, where companies aim to create a vibrant work environment for their staff.
122 Moray Street, South Melbourne, 3205
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