Victoria Bitter silos to be incorporated into strata office building

Artist’s impression of the proposed strata office development – The Silo Studios

EXCLUSIVE

The Victoria Bitter-branded silos on the banks of the Yarra River at Richmond’s southern tip – will be incorporated into a distinctive strata office complex.

The development will extend out of the silos for six floors.

Workspaces within the project, branded The Silo Studio, will be configured in size between 321 square metres and 1830 sqm.

Earmarked for 10 Gough Street, the project forms part of Caydon Property’s The Malt District redevelopment, which incorporates the former silos and neighbouring Beavers Plastics site.

The Victoria Bitter silos were previously proposed to become part of a boutique hotel with function centre.

Last month we reported that Caydon had launched a leasing campaign for a 12-storey office with about 15,373 sqm of area, at 8 Gough Street, next door.

This neighbouring property was previously mooted for apartments before a change of strategy by the owner.

Artist’s impression showing the silo as part of a strata office redevelopment.

Late last year, Caydon started constructing an office for software giant MYOB at The Malt District. It also sold the building on a funds-through basis: as we reported, AXA Investment Managers paid about $100 million.

Strata office “once in a lifetime” opportunity

Knight Frank’s Nick Bisset, Matthew Romanin and Tim Grant are marketing the strata offices at 10 Gough Street.

The agents describe the offering as a “once in a lifetime opportunity”.

The landmark Richmond silos relative to the Yarra River, AAMI Park and Melbourne CBD.

Car spaces are available for purchase, though the agents say the address is walking distance to all forms of public transport.

The strata office complex is due for completion in the third quarter of 2021.

The Malt District is within a pocket of Richmond known as Cremorne – which has seen a wave of office leasing and development activity in recent years.

CostaFox is amongst these. As we reported last September, it is proposing an eight-level, 5464 sqm strata office at 1-11 Gordon Street. Earlier this year CostaFox acquired a site across the road to build another one.

In June, we reported that Gus Cooper and Michael Gannon were awaiting approval to build two offices, of 10 and four storeys, and with 11,513 sqm of area (including retail), at 68-88 Green Street.

The developers recently started constructing a major seven-level, 19,300 sqm office for employment website Seek at 60-88 Cremorne Street.

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Marc Pallisco

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

Marc Pallisco