Terraplex Brings Cremorne Trophy Offices to Market in 2026

Melbourne’s tightly held Cremorne precinct is set to capitalise on increased investor appetite early this year, with Terraplex launching the sale of two standalone A-Grade office assets at 658 Church Street. 

The campaign, led by Cushman & Wakefield, will officially commence in early 2026, marking one of the most anticipated offerings in the city’s fringe office market. The assets, Building 1 (6,030 sqm) and Building 2 (7,213 sqm) form part of the prestigious Cremorne Business Park and together deliver 13,243 sqm of net lettable area across flexible floorplates, supported by 257 on-site car spaces. 

Built in 1997, the properties boast a strong architectural presence and a proven track record of attracting top-tier tenants, including 7-Eleven, Mattel and Access4. The offering will provide short to medium-term rent reversion potential for incoming owners.

Positioned on the banks of the Yarra River, the buildings have sweeping views of the CBD and tree-lined surrounds, complemented by landscaped gardens and proximity to Melbourne’s world-class sporting precinct and are for sale through Nick Rathgeber, Leigh Melbourne, Daniel Wolman, and Oliver Hay of Cushman & Wakefield. 

The location is synonymous with connectivity, with East Richmond and South Yarra stations, multiple tram routes, bike trails and the M1 freeway all within easy reach. The precinct itself has evolved into a thriving hub for tech giants, creative agencies and iconic retail brands, underpinned by growing demand and constrained supply.

Nick Rathgeber of Cushman & Wakefield said the campaign is expected to draw strong interest from a diverse buyer pool. "We anticipate significant engagement from private capital, syndicates and institutional investors seeking exposure to Melbourne’s most dynamic fringe market. Cremorne continues to outperform, driven by its unique blend of amenity, connectivity and tenant appeal."

Leigh Melbourne of Cushman & Wakefield added "These assets represent rare scale in Cremorne, with flexible floorplates and world class tenant covenants. The combination of architectural quality, prime river frontage and embedded rental growth positions this offering as one of the most compelling opportunities in 2026."

Mr Rathgeber and Mr Melbourne expect the campaign to generate competitive bidding, given Cremorne’s reputation as Melbourne’s premier fringe office precinct and the scarcity of institutional-grade assets of this calibre.

Buildings 1 & 2, Lot 2, 658 Church Street, Cremorne are for Sale via International Expressions of Interest closing 1 April 2026. For further information please contact the Cushman & Wakefield team.