Cremorne: VRC vice chairman Michael Ramsden’s ‘cracker’ office site with rooftop terrace hits market
Victorian Racing Club (VRC) vice chairman Michael Ramsden has listed his ‘cracker’ office site in Cremorne.
Victorian Racing Club (VRC) vice chairman and high-profile Melbourne businessman Michael Ramsden is saddling up for the sale of his “cracker” private office space in Cremorne.
The 8 Chapel St site, dubbed Terrain House has been home to Mr Ramsden’s financial advisory firm Terrain Capital for the past 10 years.
The high-flying executive was appointed to the VRC board in 2012, following in his father Andrew Ramsden’s footsteps who was chairman between 1998 and 2003.
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‘Terrain House’ comes with its own indoor garden.
Plus an incredible rooftop terrace with views of the city.
Michael Ramsden also founded financial advisory group Terrain Capital
Behind a vine-covered facade, the 556sq m property features multiple workspaces, in addition to an indoor garden and a rooftop terrace boasting sweeping views across the CBD.
Jones Real Estate Melbourne manager Sam Guest said he was fielding interest from developers seeking value, as well as young professionals.
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“It’s a cracker site, especially where it’s positioned on Chapel St, but in that pocket where you don’t have to go through Cremorne to get in or out, plus it has those beautiful views,” Mr Guest said.
“Cremorne is still one of the hottest commercial markets in the country.”
A second outdoor space.
And room for up to eight cars.
There’s plenty of workspaces too, of course.
The site has an estimated rental income of $300,000 a year and has commercial zoning allowing for a multi-level development in the future.
“It has the precedence to go up to eight levels, so developers are having a good look,” Mr Guest added.
He said Mr Ramsden had “a lot on his plate” with his chairman position and felt it was time to move on from the commercial property.
The landholding has a $4m-$4.4m asking price and is being sold via expressions of interest.
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emily.holgate@news.com.au
