Developer Time & Place and joint venture partner MaxCap Group has gained approval to develop an office building in the inner Melbourne suburb of Cremorne.  

The developer will build a nine-storey office building on the 2,678 sqm site at 75 – 119 Cubitt Street, offering around 13,500 sqm of office space. 

The JV partners intend to leverage Cremorne’s burgeoning reputation as a global innovation and technology hub to appeal to creative and tech businesses.  

The development will have approximately 900 sqm of balcony and terrace spaces, a 500 sqm rooftop garden, enhanced end-of-trip facilities and a two-level basement car park.  

Multidisciplinary design firm fjcstudio were engaged to work on the building’s design, which will target a 6-star Green Star rating and 5.5 Star NABERS targets. 

The site will be the third office project for developer Time & Place, following its Victoria Place project in Melbourne and its Bourke & Bowden project in Sydney, with the three projects expected to be valued at approx. $800m upon completion.  

“With the permit now approved, we’re excited to commence works and bring the plans to life,” Time & Place development director Nick Paciocco said. 

“With a rising reputation as a tech hub, Cremorne has seen rapid growth in recent years, and our Cubitt Street project will offer premium office space for a modern way of working. Our aim is to create a machine for working – a building that provides tenants with a highly efficient, sustainable and optimised working environment. The way people live and work is changing, and it’s our job to make sure we reflect this transition in our work.” 

Simon Hulett, head of direct investment at MaxCap Group, said MaxCap is excited to include the Cubitt Street project as part of its Diversified Opportunity Fund.  

“This is a significant milestone for this project and continues the recent success for MaxCap of de-risking our portfolio of investments across our Diversified Opportunity Fund,” Hulett said.  

“We look forward to continuing our successful track record of projects with Time & Place. We are strong believers in the ‘flight to quality’ thematic across all real estate markets, particularly office, and identified the unique opportunity in Cremorne to attract larger occupiers through the delivery of high quality large-scale floor plates of c. 2,000 sqm.”