Caydon proposes 12-level office at one of inner-Melbourne’s busiest corners

The proposed office entrance.

EXCLUSIVE

One of inner-Melbourne’s busiest intersections is about to have a 12-level office constructed at it.

Caydon Property this week launched the leasing campaign for a 15,373 square metre building to be known as 8 Gough Street, Cremorne.

The glass complex is earmarked for a site at the north-east corner of Punt Road and the Monash Freeway – between the carsales.com.au office at 449 Punt Road and west of Richmond’s landmark silos and Nylex clock.

The office will soar to about the same height as the silos – but not the clock.

The premium grade office will contain more than 15,000 square metres of lettable area.

Another c12-storey structure, an apartment building, is mooted to be built on land east of the silos.

To the east of this residential building, a nine-storey office is under construction at a site known as 17-21 Harcourt Parade, Cremorne.

Set to be tenanted by MYOB when complete after 2020, Caydon sold 17-21 Harcourt Parade off-market to AXA Investment Partners last September on a funds through basis for about $100 million.

Malt District

Caydon’s controversial planning outcome for the ‘Nylex’ site is being branded Malt District.

Also including retail and a hotel, the redevelopment will change Richmond’s skyline – taking the focus away from the suburb’s prominent silos for the first time since the 1950s.

The Nylex clock was added in 1961.

Colliers International’s Matt Cosgrave and Damien Adkins are marketing 8 Gough Street for lease.

The premium grade building will contain an occupier-only terrace on the third floor.

It will also offer a ground floor café, concierge, “world class” end of trip facilities and “a calming wellness centre”.

Caydon paid $38 million for the 1.1 hectare Nylex site in late 2014.

The developer already owned the Beavers Plastics site next door (17-21 Harcourt Parade).

Following settlement of Nylex, Caydon combined the two properties to master-plan Malt District.

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco
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