Leading Australian property company Cedar Woods is expanding the Williams Landing commercial hub in Melbourne with the launch of a new seven-storey office building, Boston Commons.

Williams Landing in suburban Melbourne is a 275-hectare estate situated just 20 kilometres from the CBD, and comprises of four residential neighbourhoods flowing around a growing town centre, which is fast transforming into a dynamic commercial and retail hub.

Located at 89 Overton Road, Williams Landing, Boston Commons – designed by renowned architects Hames Sharley – will be the fifth standalone office building in the commercial hub and will house 60 strata office suites, in addition to two larger pre-lease office suites and five ground floor retail suites.

Cedar Woods chief operating officer Patrick Archer observed that the pre-launch campaign for the offices generated high levels of market interest with over 30 per cent sold in the first weeks.

“Purchasers at Boston Commons include business owner-occupiers attracted to the development as an opportunity to save money by buying rather than renting their office in the current low interest environment. Some may consider purchasing the office suites via their personal superannuation fund with the intent of leasing the premises to their businesses.

“Investors have also been attracted to the project; with investment yields forecast at over 5 per cent, it offers a higher yielding option compared with traditional residential investments,” Archer explained.

The Boston Commons pre-launch campaign was one of the most successful launches Knight Frank has seen in the Melbourne strata office market, according to Knight Frank’s associate director Matthew Romanin. The healthy pre-launch sales highlighted the continued strong demand for new strata office suites, he said.

The expanding commercial hub has been a driving force for interest in Boston Commons, Archer noted, adding that the buyers were largely driven by the growing popularity of Williams Landing as the centre of Melbourne’s west.

Hames Sharley’s design concept for Boston Commons has an industrial modern vibe with a material palette reflective of inner-city architecture.

“Boston Commons is a wonderful sculptural expression of form, aesthetic, and composition. Carefully crafted to be sensitive to the surrounding Williams Landing Town Centre and community, Boston Commons delivers a contemporary medium rise mixed-use offer that is timeless in its expression,” Hames Sharley director, Harold Perks explained.

Each office will feature NBN infrastructure, an individual kitchenette, climate control, secure car parking as well as access to two conference centres and end-of-trip facilities.

Future occupants will also have access to significant local amenities including a train station, shopping centre, medical facilities, dining, and surrounding parklands. The new office building is scheduled for completion in early 2024.