Cremorne’s newest office reaches practical completion
One of the last major office developments expected in Cremorne before the end of the decade has reached practical completion.
Skylife and Borg are now seeking tenants to the 10 level, 11,875 square metre Balmain Building.
Penned by Bates Smart, at 120 Balmain St, tenancies range between 743-1483 sqm, with a wintergarden or terrace on every level.
The rooftop will be activated too – capturing postcard city views also available from the office.
There are also 78 car parks, clubhouses – bookable spaces for board meetings, training and presentations, social gatherings, or health and wellness activities – licensed cafes and end-of-trip facilities.
Colliers’ Travis Myerscough and Matt Cosgrave are the agents.
Cremorne, considered the city’s most exclusive suburban office environment, three kilometres east of Melbourne’s CBD, is home to high-profile businesses including Mattel, MYOB, REA Group, Reece, SEEK, Tesla and The Walt Disney Corporation.
Last year, realestatesource.com.au reported EasyGo Gaming leased an entire Cremorne building – with 12,891 sqm over nine floors – being developed by INT.Re and Zagame Corporation.
The Balmain Building
Skylife and Borg are co-developing The Balmain Building with Time & Place as development partner.
Kennedy Consolidated has already committed to 3300 sqm over three floors.
“This is effectively the final A-grade office building that will be delivered in Cremorne in this cycle,” Mr Myerscough said.
“Beyond this, the next wave of new supply isn’t expected to emerge until around 2029 or 2030, which places The Balmain Building in a very strong position for occupiers looking to secure premium and future-proof accommodation in the short to medium term,” he added (continues below).
“We’ve already seen enquiry driven by occupiers seeking high quality space outside the CBD without compromising on sustainability, amenity or workplace performance,” according to the executive,
Mr Cosgrave said occupiers continued to favour new-generation workplaces in Cremorne.
“Cremorne has become a destination of choice for businesses that want to attract and retain talent,” he added.
“A-grade new vacancy is relatively tight and there’s a clear preference for buildings that offer flexible floorplates, strong ESG credentials and a user experience-driven workplace proposition,” according to the agent.
Net zero emissions
The building is targeting a 5.5-star NABERS Energy rating, Gold WELL Enablement and net zero operational emissions.
It is a seven minute walk to East Richmond station.
“This building is designed to adapt to tenant requirements,” Bates Smart director, Jeffery Copolov, said.
“Defined by quality materials, large expansive and operable windows, flexible floorplates and large landscaped terraces or winter gardens on all levels, this building is designed to nurture tenants and adapt to their needs – present and future,” he added.
“The project forms part of the continued transformation of Cremorne from a traditional industrial precinct into one of Melbourne’s strongest office markets, attracting technology, media and professional services occupiers,” according to the executive.
“The suburb’s evolution has also prompted a wave of commercial redevelopment over the past decade, although relatively few new major office projects remain under construction”.
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