News

Foundr Magazine Put South Yarra Office Market On The Cover

Posted on 10th March 2020

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Global start-up and entrepreneurial publication Foundr Magazine has moved its world headquarters to South Yarra’s fast-growing office market.

Fitzroys agents Samuel Friend and Stephen Land negotiated the four-year lease of the large 500sqm full-floor office at 60 Wilson Street with a further four-year term at $145,000 per annum plus outgoings and GST, with 3.5% annual increases.

Friend and Land acted on behalf of a private single-investment landlord.

The first level office has a dedicated ground floor double-height foyer and three car spaces located just off Chapel Street.

Friend said Foundr Magazine was looking to move north from Prahran and into South Yarra, and to a larger office.

“Quality tenants are continually being drawn to South Yarra’s office market as a new wave of commercial and residential supply, and growing lifestyle and hospitality options in the immediate surrounds revitalise the city fringe suburb,” he said.

Foundr Magazine was established in Melbourne by Nathan Chan in 2013 as a publication dedicated to being the “ultimate resource for young entrepreneurs”, covering the world of start-ups and entrepreneurs and what it takes for young, aspiring business people to take their ideas to the next level. and featuring in-depth interviews and analyses of successful business people across the world.

The platform includes the flagship monthly magazine, which has more than 250,000 subscribers, while one million people listen to the Weekly Foundr Podcast, and 2.1 million follow the empire on Instagram. Foundr also runs an online training program.

Entrepreneurs featured across its platforms have included Richard Branson, Arianna Huffington and Tony Robbins.

Friend said more than 50 enquiries were received, largely from high-quality, younger companies - including a dance studio, F45 fitness centre, law firm and Remedy Drinks, among others - demonstrating a clear appetite for office space within South Yarra.

High quality tenants that have recently taken up office space in South Yarra’s office market in deals negotiated by Fitzroys include popular bottled kombucha label Remedy Drinks, which took space at 6 Bond Street, and creative architects Telha Carke.

“Businesses are wanting to attract and retain talent in the up-and-coming generation Melburnians, and key to that is a location close to dining, shopping and recreational options,” Friend said.

Land said demand throughout the Richmond and Cremorne markets is starting to spill over to neighbouring city fringe markets such as South Yarra, which has a massive office pipeline in line with its growing population and youthful demographic.

“South Yarra is positioning itself as another city fringe office hub aimed at young professionals, anchored by amenity and accessibility of a famous retail and lifestyle strip in Chapel Street and the pending $1.25 billion Jam Factory precinct overhaul, complemented by the food and beverage hub at the Windsor end of Chapel Street.”

The famous Jam Factory will introduce some 50,000sqm of new office space in the coming years, as well as retail space, across five new buildings, while retaining historic components of the site with an upgrade of its hospitality offering and famed Hoyts cinema.

Meanwhile, developments including 627 Chapel Street and Chapel Plaza at 402 Chapel Street will bring a further 30,000sqm of new offices to the area, following on from the residential development surge at the adjacent Forest Hill precinct and the Capitol Grand and Aloft Hotel projects.