1 Nicholson Street, East Melbourne
1 Nicholson Street was designed by Bates Smart McCutcheon. It was constructed in November 1958 and until 1961, was the tallest building in Australia.
Asset Class
Commercial Office
Net Lettable Area (NLA)
16,970sqm
Client
Stamoulis Property Group
Role
Asset Manager
The 18-level tower boasts unrivalled views over Melbourne CBD, MCG and sports precinct, Parliament House and several public parks and gardens.
The building was uniquely designed to incorporate an offset side core, meaning that the passenger lifts and amenities do not interfere with occupiable area.
This creates an extremely efficient floorplate, allowing an abundant amount of natural light to enter.
In 2023, OneEast Capital managed the acquisition on behalf of Stamoulis Property Group (SPG). Notably, this transaction marked the largest commercial office sale in Victoria for the year 2023. Post-settlement in 2024, OneEast Capital were appointed as the Asset Manager.
1 Nicholson Street represents an intergenerational investment for SPG.
History of 1 Nicholson Street
1 Nicholson Street is a National Heritage icon, the building was pivotal to redefining commercial construction guidelines in Victoria. At 84 metres in height, this building broke the 40.2m Victorian height restriction and set a new precedent in height controls in the city of Melbourne. It's height, combined with its position on the eastern hill of the CBD, made the building a landmark.
