East Melbourne terraces could be your next office

Two heritage office terraces are up for lease in one of Melbourne’s most tightly held pockets.

The National Trust of Australia (Victoria) has listed two boutique office terraces for rent in East Melbourne, creating a rare opportunity in the highly popular precinct.

Located at 10-12 Parliament Place the boutique spaces have original trimmings, high ceilings and a large communal glass atrium at the rear overlooking Burton Reserve towards Parliament House.

Commercial Insights: Subscribe to receive the latest news and updates

Fitzroys agents Stephen Land says the leases are a rare opportunity in one of Melbourne’s most desired city precincts with Spring St and Collins St at the doorstep.

“Melbourne’s fringe office markets continue to attract businesses and tenants due to their accessibility, heritage and character aesthetics, and proximity to the vibrant lifestyle and amenity offerings of the inner city and CBD,” Land says.

At 10 Parliament Place there is 46sqm on the ground level and 57sqm on the first floor.

The terrace offices at 10-12 Parliament Place, East Melbourne.

At number 12 there is 103sqm on the ground and first floor, which has been used as storage for many years.

East Melbourne is one of the tightest non-CBD office markets in the country with a vacancy rate of 2%, according to the most recent data from the Property Council of Australia.

The building, officially named Tasma Terrace, was originally a nineteenth century three-storey terrace house built for grain merchant George Nipper as a stylish guest house and family home in 1879.

It was saved from demolition to make way for a high-rise tower in 1970, by the trust.

The property now comprises six terraces with a gallery space, and a number of period decorated meeting and function rooms.

Mr Tod café operates from the basement of the site.

NTAV is seeking experienced retail and commercial operators for leases on flexible terms.