1. Skip to navigation
  2. Skip to content
  3. Skip to sidebar




Property News

New offices and retail space planned for Melbourne

November 25, 2011

Melbourne's legal precinct is going to be redeveloped into premium office suites and apartments after 20 years of standing vacant.

Victorian planning minister Matthew Guy has granted a permit for the project, which will see 189-203 William Street transformed into office, ground floor retail, parking and residential space.

As well as being close to law courts and barristers' chambers, the site is near Melbourne's central business district, the Queen Victoria Market and Flagstaff Gardens, making it prime real estate.

Guy said: ''The refurbishment of the existing buildings will reinvigorate this prominent part of the central business district.''

''The development is expected to attract the legal fraternity.''

Also due to be upgraded is Guests Lane, which links Bourke Street and Lonsdale Street to allow easier passage by pedestrians and ''continue Melbourne's great laneway lifestyle''.

This project, which is making a formerly vacant lot usable, may be an indication of a healthy demand for commercial property in Melbourne.

According to the Victorian government, Melbourne is the most affordable Australian capital city for those who want to rent an office.

This along with the fact that it is a major business centre provides would-be investors with reasons to consider commercial investment opportunities in the city.



Related Articles

Stamp duty slashed in Victoria

Buying a property often comes with many additional fees, such as conveyancing and title transfers. ...
read more

Roaring demand makes outer suburbs perfect places to sell your property

Melbourne's outer suburbs are becoming hot spots to buy property, whether to own or invest, ...
read more

Slice of shopping heaven planned for Melbourne suburbs

Residents of Melbourne's southeastern suburbs are due to have their shopping horizons ...
read more

Latest Articles

Housing gives the states a leg-up

New releases from the Housing Industry Association (HIA) have shone some important light on just ...
read more

How is Australian investment faring?

Looking at the investment property market, it appears that the industry is thriving. The Australian ...
read more

Council calls for property reform

Buying a property comes with a wide range of fees and taxes, depending on where you buy and the ...
read more