Aston has successfully sold 3 Cubitt Street, Cremorne, for $5,410,000, reaffirming buyer confidence in Melbourne’s City Fringe office market despite market challenges.

The premium three-level office, designed by NTF Architecture in 2010, attracted strong interest due to its high-quality finishes, strategic location, and flexible leasing. Positioned in Cremorne’s creative and tech hub, the property features outdoor terraces, CBD views, and a short-term lease to Deloitte on Levels 2 and 3, expiring in February 2025, with Level 1 vacant for occupation or leasing.

With a building area of 655m2* and land area of 278m2*, the sale price equated to $8,260 per m2* on building area and $19,460 per m2* on land area. A private investor/owner-occupier recognised the value of this prime freehold asset, located near Richmond Train Station and top hospitality venues.

Jeremy Gruzewski, Executive Director and Head of Agency at Aston, commented: “This sale highlights the strong demand for quality office assets in prime locations. Investors and owner-occupiers continue to seek well-designed spaces with long-term growth potential. The competitive campaign demonstrated Cremorne’s continued appeal.”

“The purchaser was an owner-occupier in the IT industry who saw this as a rare opportunity to secure a premium office in one of Melbourne’s most sought-after business precincts. Buyers are still willing to invest in high-quality, well-located properties despite the challenging office market,” Gruzewski added. “Cremorne remains a highly desirable location due to its accessibility, thriving business community, and vibrant amenities.”

This transaction reinforces that well-positioned commercial properties remain highly desirable despite economic uncertainties. Aston continues to set benchmarks, delivering strong results through expert strategy and market insight.