Flagship Cremorne Development Opportunity – Permit Approved and Ready to Go

Colliers offers ‘The Stack’ – A landmark development opportunity in Cremorne.

Colliers agents Ben Baines and Alex Browne are pleased to present ‘The Stack’ for sale via an Expressions of Interest campaign, closing 12 June 2025 at 3pm (AEST). This prime 1,567sqm vacant landholding includes endorsed plans and a planning permit for a landmark multi-storey mixed-use development, designed by renowned architects Denton Corker Marshall. The approved scheme comprises 6,111sqm of net lettable area* and 33 car parks, with a price guide of $16 million.

‘The Stack’ offers a once-in-a-generation opportunity to develop what is arguably one of the most exciting mixed-use projects in Melbourne. Positioned on the doorstep of Alfasi Property’s $600 million Matchworks precinct, the site will benefit from immediate proximity to world-class hospitality, retail, and commercial amenities. As part of this significant transformation, Alfasi is revitalising the historic Bryant and May Industrial Complex at 560 Church Street. This flagship development, expected to be completed in 2027, will blend cutting-edge amenity with the preservation of Cremorne’s rich industrial heritage, contributing to the precinct’s already dynamic momentum.

The current permit for ‘The Stack’ offers development certainty as well as flexibility on end uses, subject to change and council approval. Alternative uses for the site could be self storage and short-stay accommodation (STCA). With limited existing alternate use options in Cremorne due to planning constraints, this scheme presents a rare opportunity to introduce a high-quality offering in a thriving inner-city precinct just 3km from the Melbourne CBD.

With Commericial 2 Zoning, the site is permit-ready, with approval for an eight-storey development offering four sides of natural light and flexible floorplates. Surrounded by low-rise, heritage-protected terrace homes, the site enjoys protected viewlines and a unique setting – ideal for developers seeking a premium, well-positioned project.

Ben Baines, Director, Melbourne Metro Sales | Investment Services at Colliers, commented, “Cremorne has, in recent years, cemented its status as a destination for forward-thinking companies. Former residential and industrial spaces have been transformed into vibrant commercial hubs.”

“The precinct has also seen strong tenant interest, with leasing growth of 4.7% over the past 12 months, reflecting its enduring appeal and investment potential,” Mr Baines added.

‘The Stack’ is being offered for sale via Expressions of Interest, closing 12 June 2025 at 3pm (AEST).