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1 Chapel Street, Blackburn

Built in 2005, 1 Chapel Street comprises a high-quality three-level office building which occupies a substantial 7,224sqm site in Blackburn – a central business district, 17 kilometres south east of Melbourne CBD. The area is well connected by arterial routes and public transport, with Blackburn railway station 400 metres to the south of the property.

The property is considered one of the premier office buildings in Melbourne’s outer eastern suburbs featuring a modern lobby, end-of-trip facilities, floor-to-ceiling windows on all sides (allowing high levels of natural light throughout) and ample car parking (combination of basement and open-air spaces).

Purchased by Vantage in 2018, we then converted the single tenant building into a multi-tenanted asset. A full refurbishment of the ground floor created additional space for three office tenancies and a cafe. In 2025, Vantage received Town Planning Approval and a permit for the development of the rear land. The permit provides for the development of 168 apartments in two buildings, with associated ground floor retail amenity and basement car parking.

Date Acquired
October 2018
Purchase Price
$30,200,000
NLA
6,002 sqm
Direct Rate
$5,032/sqm