Aesop has leased about 2500 square metres within Peregrine Projects’ Langridge Lanes, under construction in Collingwood.
The agreement covers two floors of a nine storey, 6000 sqm office at 88 Langridge Street – which the skincare group will operate as its headquarters.
The occupier will also take space within a seven level, 2000 sqm warehouse-converted building abutting it (23 Waterloo Road).
Emmetts’ Andrew Milligan brokered the off-market deal.
Aesop will join co-working group Creative Cubes, which committed to 3000 sqm of Langridge Lanes early last year.
Aesop gets cold feet at Wellington Street
With the Langridge Lanes deal, Aesop has torn up a pre-commitment made three years ago for c4500 sqm at 54 Wellington St, around the corner.
Construction of that 12-level, 15,063 sqm office, Northumberland, was temporarily delayed following the collapse of Grocon’s building arm in May.
Owner Impact Investment Group has, however, retained co-working group The Commons which agreed to lease 3000 sqm in 2017.
Peregrine is promising to deliver Langridge Lanes next year.
Aesop’s outgoing headquarters, in Fitzroy, is earmarked for eight level residential building after recently selling to Urban for $7.85m (story continues below).
Tenants spoilt for choice
Elsewhere in Collingwood, Hines is developing a 15-storey, 18,200 timber tower on a Wellington St site acquired for $28m in 2019.
Local investor Peter Hart is also building an eight floor office at 6-10 Peel St in the suburb – set to contain 2355 sqm.
RF Corval owns another commercial building under construction in the area – 71-93 Gipps St will rise 11 levels with 8600 sqm.
Near there, Andy Zhang’s V-Leader is behind a mixed-use Collingwood investment with c21,900 sqm of offices.
In February, Anplus Developments unveiled plans for two towers, with a total 19,405 sqm of commercial space, at 99-117 Islington St.
A 5357 sqm workplace is being developed on a speculative basis at 71 Langridge St too.
Last year, DKO and Slab won permission to construct another office, at 19 Down St.
Morry Schwartz is also seeking to build an eight storey headquarters in the suburb, incorporating the historic British Crown Hotel, at 14-18 Smith St (this project was rejected by the Victorian Civil and Administrative Tribunal this year).
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