A decision to forge ahead with the construction of a speculative $400 million inner suburban office project in Melbourne during the height of the pandemic has paid off for private developer Goldfields, after occupancy at its Chapel Street tower in South Yarra hit 80 per cent last month.
Completed in February, the 24-level glass building at 627 Chapel Street with 24,000sq m of net lettable space has benefited from a resurgence in demand for office accommodation outside the CBD.
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Larry Schlesinger writes on real estate, specialising in commercial and residential property. Larry is based in our Melbourne newsroom. Connect with Larry on Twitter. Email Larry at larry.schlesinger@afr.com
Martin Kelly is a property reporter based in Sydney covering all aspects of commercial and residential real estate including major deals, market trends and developments. Email Martin at martinkelly@afr.com
