Following the record-breaking success of Toorak Village, Orchard Piper has launched its newest commercial offering within the $400 million mixed-use project, One Toorak Place.
Orchard Piper has unveiled its newest flagship project, One Toorak Place, located at 7–11a Carters Avenue, Toorak, marking the next evolution of Melbourne’s most prestigious commercial and residential precinct.
Developed by Orchard Piper and designed by Kerry Hill Architects, the $400 million mixed-use development will deliver 2,000 sqm of premium commercial office space across thirteen boutique suites. Two suites have already been sold ahead of launch, with the remaining offices starting from approximately 104 sqm and priced from around $2.2 million.
The project will also feature luxury residences and ground-floor retail, offering a fine-dining destination and a relaxed café concept to Toorak’s vibrant village setting.
Hospitality heavyweight Chris Lucas has secured part of the retail component for two new dining concepts, while a family office has purchased two adjoining offices totalling $7.3 million. Both transactions were negotiated by Cushman & Wakefield’s Oliver Hay and George Davies.
“Having Lucas Restaurants underpinning the retail offering in the building is an enormous milestone,” said Oliver Hay, International Director, Investment Sales at Cushman & Wakefield. “An operator of that quality literally at your doorstep is set to benefit both residents and commercial owners. Chris is also offering in-room dining and event experiences as a part of the development.”
The family office purchaser, which has leased space in Toorak Village for more than 30 years, had been seeking to buy for several years but found nothing of comparable quality until One Toorak Place.
“With very few options for high-quality office space across Stonnington, we’re expecting strong interest from local businesses and family offices. With only 11 offices remaining, starting from 109 sqm, they suit family offices, medical practitioners, and small to medium-sized enterprises,” Mr Hay added.
The launch of One Toorak Place follows Colliers’ completion of the 100% sell-down at Orchard Piper’s 420 Toorak Road development, Toorak Village, which achieved approximately $20 million in office sales across five boutique suites.
The last remaining suite, Suite 2.02 at 420 Toorak Road, comprising 245 sqm, was recently sold for $4.4 million to a local family occupier, setting a new benchmark rate of $18,000/sqm and reinforcing the strength of Toorak’s premium strata market.
Ben Baines, Director, Investment Services at Colliers, said the result demonstrates both the quality of Orchard Piper’s developments and high demand of the strata offices.
“The sell-out success of 420 Toorak Road highlights the confidence we’re seeing from high-net-worth investors, medical specialists and owner-occupiers seeking secure, long-term assets in prestige locations. Toorak remains one of Melbourne’s most tightly held commercial markets, defined by exceptional design, accessibility and limited new supply,” Mr Baines said.
Located just 150 metres from Toorak Village, One Toorak Place offers direct access to Hawksburn and South Yarra stations, Como Park and the Yarra River, while maintaining a private, tree-lined frontage along Carters Avenue and Ross Street.
The commercial suites at One Toorak Place are being jointly marketed by Cushman & Wakefield’s Oliver Hay, George Davies and Raphael Favas alongside Colliers agents Ben Baines, Matt Knox and Xavier Nguyen.
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