Cedar Woods has completed its fourth standalone office building in Williams Landing, catering for small to medium-sized businesses looking for space and value.
Located in Melbourne’s west, the $23 million strata building at 101 Overton Road brings an additional 6,000 square metres of office space to the emerging commercial precinct.
Designed by architects Gray Puksand, the building features, a fully equipped conference centre, NBN infrastructure and end of trip facilities. There is also a restaurant and local florist on the ground floor.
Capital growth, rising rents and low vacancy in Melbourne’s CBD has meant that suburban strata offices have become more attractive to businesses and investors looking to eliminate leasing costs and build ownership wealth.
Furthermore, Cedar Woods state manager Lloyd Collins says the impact of Covid-19 has meant businesses are looking to restructure their office spaces to low rise offices with the ability to use secure swipe card stair access in addition to lifts.
“Some are looking to set up hub or satellite offices where their employees can work closer to home, with secure parking and transport links to the CBD for meetings. This is a trend we expect will grow as offices start to reopen.”
Williams Landing is identified within the Plan Melbourne strategy as a key ‘activity centre’, offering retail and service amenity as well a commercial employment precinct.
Williams Landing could host up to 23,000 jobs once fully developed, according to a MacroPlan Dimasi report.
“The west continues to grow, and Williams Landing is in a position to accommodate businesses of all sizes,” adds Collins.
“The expansion of the town centre is having a bit of a knock-on effect. The more businesses that move here, the more referrals we get as people want to be surrounded by their network.”