Beulah releases ‘Paragon Workspaces’, offering rare strata office investment opportunity in Australia’s first indoor forest project

Leading Melbourne developer Beulah has released four flexible strata workspaces within its Paragon development, offering a rare corner CBD location and an investment in a project with world-class amenities, including Australia’s first indoor forest.

Priced from $2 million up to $5 million, Paragon Workspaces signal the first new strata office project to be offered to the market in a number of years, with listing agent Colliers International saying it is an exciting opportunity for both owner-occupiers and investors to capitalise on all that Melbourne has to offer.

According to Colliers International, there have been very few strata transactions in 2020, with only four transactions recorded (in excess of $1m) since the first COVID-19 lockdown back in April, compared to 35 transactions at the same time last year.

With floor areas ranging from 222 sqm to 525 sqm and set on a prime corner location fronting Queen and La Trobe Streets, each workspace benefits from exceptional natural light via large windows and expansive ceiling heights of up to 4.2 metres.

Each workspace offers the purchaser the opportunity to fully customise the space to suit, with favourable zoning providing ultimate flexibility for office, retail or hospitality uses.

Owners will have access to luxurious end of trip facilities, an exclusive terrace balcony and a rare 24-hour club liquor licence, making it one of Melbourne’s most notable office destinations.

Anthony Kirwan from Colliers International said he’s extremely excited to be bringing these truly unique workspaces to market.

“During a year with so much disruption, there has been limited opportunity for owner-occupiers and investors alike to acquire prime commercial office space. Buyers are out there, looking for opportunities, however, there has been very little availability.

We’re thrilled to bring such a high-quality product to market which will help satisfy some of the pentup demand we’re experiencing,” he said.

Co-Founder of Beulah, Jiaheng Chan said Paragon’s commercial offering is designed to suit a post-COVID world, where open and expansive office spaces will dominate, complete with state-of-the-art amenities for wellbeing.

“Like all of our projects, when it came to transforming these workspaces it was important to create them with value that can be enjoyed for generations to come.

“Paragon will offer the very best of Melbourne CBD via a prime location and an innovative and smart office design that will enhance both productivity and wellbeing of its tenants and owners.”

Paragon is set to transform Melbourne’s skyline with its striking exterior the result of a dynamic collaboration with one of Australia’s best architecture firms, Fender Katsalidis. Bound by an elegant pattern on its distinct blue and gold glass façade, the base of the tower also provides instant intrigue at street level, with the heritage exterior of the previous building meticulously restored to its former glory. Paragon is scheduled for completion this summer and will be home to 227 residences.

‘Paragon Workspaces’ are being offered for sale by International Expressions of Interest, closing Friday 20th November.

For more information, please contact Chris Ling, Anthony Kirwan and George Davies of Colliers International’s Melbourne City Sales team or visit: www.colliers.com.au