Six billion dollar man John Gandel leases his unique Chadstone HQ to business incubator

The latest office developed on the Chadstone Shopping Centre site

Billionaire John Gandel has leased his company’s former and unique office headquarters to business incubator Waterman Group.

The ex-Gandel Group of Companies office covers 5000 square metres (or 1.25 acres) across one level directly above the David Jones department store at the Chadstone Shopping Centre.

The Malvern East space on Dandenong Road will be relaunched next week as the Waterman Business Centre Chadstone, becoming what is believed will be the city’s first business centre located within a major mall.

Waterman Business Centre Chadstone will be the third serviced office in the company’s portfolio. It also operates at Narre Warren and Scoresby, in the Caribbean Business Park.

Waterman “supports all business ventures by offering spaces to suit all workplace needs” providing small through to large organisations with a permanent or hot-desk office space.

Appointed with high end fixtures and fittings the new Chadstone space incudes a café, gym and views to the city skyline, 12 kilometres away.

Occupants can rent an office from $279 a month which includes a free car park and use of the address for business purposes.

Private suites with no outgoings are priced at $850 per month (which allows for 10 hours of meeting space room).

The occupancy arrangements allow for tenants to use all three Waterman locations, 24 hours, every day.

The Chadstone complex will be opened by the tenant’s company founder, Neville Waterman, on August 8. O’Brien Real Estate Group Corporate will be the anchor permanent occupant.

Gandel, which owns half of the Chadstone Shopping Centre, together with co-landlord, Vicinity Centres, offered the sprawling office for lease last year after moving to a new 11-level office building recently developed nearby, also on the shopping centre’s 68 acre grounds.

Despite its status as “the fashion capital” – the complex is developing a reputation as a prestigious suburban office hub.

JB Hi Fi was one of the first retailers to show confidence in the centre’s office arena, agreeing to relocate its headquarters in 2013 to a building known as Chadstone Place, or Building 2, 1341 Dandenong Road. A year later, JB expanded its 4000 square metre commitment by another 700 square metres.

Another retailer, Cotton On, has its office headquarters at the complex, as does Boost Juice’s parent company, Retail Zoo. Agency Colliers International, charged with leasing the Chadstone office space, has also recently moved in.

Neville Waterman

The 82-year old John Gandel, also a philanthropist, is reported to have a personal wealth of about $6.1 billion. His family home, Bedford, in Albany Road, Toorak, is often ranked by agents as one of the state’s most valuable residential holdings.

Gandel also owns a luxurious waterfront estate in Flinders, on the Mornington Peninsula, near where he is building a major arts precinct and sculpture park.

Marc Pallisco

A freelance property writer and experienced analyst, Marc is the co-founder of realestatesource.com.au

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