Melbourne holds the distinction of being the most livable city in the world since 2011 and is considered as the “start-up capital of Australia” . There’s been a considerable amount of development in Melbourne during 2016. 12,700 square meters of retail space was completed in the first half of the year while 36,300 square meters was under construction. Within the same period, 5,690 square meters of office space was made available in the city with 206,000 square meters under construction.
Why Start a Business in Melbourne?
Melbourne is a wonderful place to live in and offers countless oppourtunities for both business and employment. Established in the mid-1800s, Melbourne was one of the largest and wealthiest cities in the British Empire. Today the city has evolved into a major financial hub and supports various industries in the country. It’s also home to one of the best universities in Australia’s, the University of Melbourne. This institution has produced several notable graduates who have held the highest seats in the Australian government.
The city sports a topnotch transport system. The Melbourne Airport handles 29% of Australia’s international freight while the Port of Melbourne is the busiest port in the country. The roads in the city are regularly maintained and expanded while the ongoing Metro Rail Project is aimed at increasing the efficiency of the existing rail system. Melbourne also has a robust telecommunication network which keeps the city connected to the rest of the world.
Best Places to Open an Office in Melbourne
Here are some of the most popular locations to consider if you’re looking for an office space in Melbourne.
The core of all business activities in Melbourne is the central area of the city which is often referred to as the Central Business District (CBD) or Central City. You can find five of the tallest buildings in the country in this area i.e. the Eureka Tower, 120 Collins Street, 101 Collins Street, Prima Pearl and Rialto Towers.
Many multinational corporations have established their headquarters in the Melbourne CBD. BHP Billiton and the Rio Tinto group, major players in the mining industry, the Australia and New Zealand Banking Group (ANZ), the National Australia Bank (NAB), Telstra, Australia’s largest telecommunications company, Tabcorp, Crown and transport management companies Transurban and Toll all have offices in the Central City.
Aside from these organisations, the Central City is also home to the administrative offices of the City of Melbourne and the State of Victoria. The area is also home to several outstanding educational institutions including the University of Melbourne, the Victorian College of the Arts, the Royal Melbourne Institute of Technology and three campuses of the Victoria University.
The Docklands is located 2 km from the Central City. The area is situated on the banks of the Yarra River and is bound by the Charles Grimes Bridge and Wurundjeri Way in the east, CityLink in the west and Lorimer Street in the South. It is currently undergoing a high-scale urban renewal covering a projected area of 190 hectares which is expected to be completed in 2025.
The Docklands is expected to house a population of 20,000 residents and provide jobs to 80,000 workers upon completion. The area is following the business park model with medium-rise buildings slowly becoming popular choices for office space. Due to its proximity to the Central City several banks such as Medibank Private, NAB, ANZ and Bendigo Bank have set up their offices in this area.
The Docklands is set to provide prime residential and commercial spaces once the urban renewal project is completed.
Considered as the secret jewel of Melbourne, South Melbourne is a shopper’s paradise and is situated 2 kilometres south of the CBD. Clarendon Street is a well renowned shopping strip lined with restaurants, cafes, art galleries and retail outlets. The area is also known for the South Melbourne Market, a village market offering fresh food and local goods.
St. Kilda Road
St. Kilda Road is home to some of the more prominent business addresses in Melbourne. It’s easily accessible from the CBD by tram and is also popular with tourists because of its beautiful beaches, cafes and restaurants.
Types of Office Spaces to Look for in Melbourne
Melbourne has a variety of office spaces to choose from but expect different rates depending on the location and proximity to the central business district. For startups and small businesses, consider looking for shared spaces where you can rent extra work stations or rooms depending on your needs. Another option would be to look for a coworking space. This is a good option for startups who have limited funds and do not really need an entirely private set up.
You can also look into renting serviced offices in Melbourne. Serviced offices have become a popular choice for small businesses because the building or facility includes services such as receptionists, shared utilities, security and maintenance. They also have more flexible leases and do not bind you to long and daunting lease that could hold your company down.
If you are ready to start a business in Melbourne, search for an office now!