Warner leases new Collingwood HQ

Developer Pace sold the office for $31.6 million last year – just prior to completion.

EXCLUSIVE

Warner Music Group will move its Melbourne headquarters within Collingwood, leasing the third floor of a super-thin office at the south east corner of Langridge and Wellington streets.

The 256 square metre deal was negotiated with Pace Development Group – but that won’t be its landlord, the builder having flipped it as a fully leased investment for $31.6 million a year ago, before construction was complete.

Following the latest rental agreement, Cushman & Wakefield’s Grant Tinker and Vincent Tran, with Lemon Baxter’s Sophie Amerena and Jay Pavey, have four levels of the 10-storey asset to fill.

The property is known as 51 Langridge St.

Warner will relocate from 36 Wellington St, about 200 metres closer to the city (story continues below).

Its outgoing base and the two low-rise warehouses next to it (42-46 and 48-52 Wellington St) were last April sold by Manfax Hardware and Paint owner Robert Larsson to US-based investment giant Hines, for $28.5m.

With Warner out, that purchaser will now build a 15-level timber office on the 2120 sqm holding.

Collingwood is about two kilometres north east of town.

It is considered one of Melbourne’s trendier suburban office markets, along with, amongst others, Fitzroy, Prahran and Richmond.

Last year we reported Sony Music relocated its headquarters within the latter suburb to a former warehouse at 5 Stewart St owned by MySize founder Andrew Nissen.

The office includes a rooftop balcony with city views and barbecue facilities.

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Marc Pallisco

A former property analyst and journalist, Marc is the publisher of realestatesource.com.au.

Marc Pallisco