Billionaires lease office prior to completion
Recently anointed billionaires Doug Clarke and Grant Petty have leased a distinctive near-complete South Melbourne complex for their Blackmagic Design business.
The deal for part of the c1880 English Scottish and Australian Chartered Bank, and a six storey Prime grade office behind it, a project known as BVIA on Bank at 305-307 Clarendon Street, covers 2174 square metres.
On the north east corner of Bank St, the sheBuilt development also includes 11 car parks, end of trip facilities, terraces and a break out space on every floor.
Rent is undisclosed but believed to circle $575-$650 per sqm, per annum, net.
Gorman Commercial’s Richard Height was the agent.
Including a retail tenancy rented to café Huff Bagelry, BVIA on Bank is fully leased ahead of scheduled completion this quarter (story continues below).
Blackmagic expands local footprint
The BVIA on Bank space will complement a Blackmagic Design tenancy in the neighbouring ex-Melbourne Butter Factory (180 Bank St), later a music studio, which was in 2019 refurbished as swank offices by Grahame Mapp.
“Blackmagic Design initially leased a smaller portion of the [BVIA on Bank] project but soon realised that the whole building was important to its future footprint in the heart of South Melbourne,” Mr Height said.
The 23 year old business, a digital cinema and camera equipment supply manufacturer, operates from nine cities globally, covering Asia, Europe and the United States. Mr Clarke and Mr Petty are each worth about $1.4 billion according to Forbes Australia.
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