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If you have been exploring commercial real estate investments, you’ve likely come across the idea of strata offices, also known as commercial strata office units. These individually owned units reside within a larger building and offer purchasers a chance to own a designated space - such as an office, retail shop or professional suite - without the greater financial burden of purchasing an entire building.
Commercial strata offices cater specifically to professionals seeking business workspaces in prime locations, with various amenities attached. Hudson Hub will bring to Williams Landing 87 strata units, including five retail suites, to complement the five other established office buildings already built in the Williams Landing Town Centre.
Stand-alone buildings vs. strata offices
If you’re looking to invest in a strata office or a stand-alone commercial building, it’s important to weigh the key differences between the two when making your decision. The main advantage of owning a stand-alone building is that you have complete control over the property, including its design and usage. However, the downside is higher upfront costs and more comprehensive management and maintenance responsibilities.
Strata offices offer a far more passive investment, as responsibility for certain aspects of the building are shared. While you still own and are responsible for your unit and space, management of the building is communal, reducing maintenance costs and administrative work for each individual. As strata offices are often more cost-effective in terms of upfront investment compared to purchasing a stand-alone commercial property, ownership can be more accessible.
Benefits for small and large businesses
There are numerous benefits in purchasing a strata office, making them a great entry point into the market with avenues for growth.
For small businesses, affordability is one of the top priorities when it comes to choosing a space. Strata offices can offer the prospective returns linked with prime real estate positioning, without having to bear the entire cost of ownership.
For large businesses, the potential for scalability is appealing, as you can purchase multiple units as the business grows, allowing for flexibility without the commitment an entire commercial building entails. The lower capital outlay is another perk, as the business can invest in the exact amount of space that they need, with the addition of shared amenities and facilities. Lastly, strata offices can appreciate in value as their location increases in foot traffic, and William’s Landing is projected to have a 5.6% population increase every year over the next 10 years (1). Strata offices are therefore a long-term investment opportunity, in addition to being a stable workplace.
Networking opportunities in a strata office
Being co-located with like-minded businesses generally increases networking opportunities across strata office tenants and owners. This in turn can lead to collaborations, referrals and partnerships. Referrals are particularly beneficial, as businesses with complementary services can recommend each other to clients, resulting in organic growth.
Being in close proximity to the established thriving business community in Williams Landing can also allow for the interchange of industry insights. Cedar Woods hosts regular workshops, business meetups and networking events for Williams Landing businesses, providing additional platforms for exposure and connection.
Hudson Hub
With Wyndham being the fastest-growing region in Victoria (2), there is a pressing need to accommodate both population and business growth. Hudson Hub responds to this demand by supplying much needed office and retail spaces in Williams Landing, and is located only 20km from Melbourne’s CBD and less than 400m from the Williams Landing train station.
The rooftop will feature landscaping, entertaining spaces and a barbecue area, while suites on Level 3 will have access to private open-air balconies. These lush spaces will provide an opportunity for businesses to engage with clients while elevating the optics of your brand.
Hudson Hub will feature a range of amenities, including end-of-trip facilities, secure bicycle storage and ground-level communal EV charging facilities. The project further emphasises sustainability with initiatives such as high-performance facades, solar panels and energy-efficient light fixtures.
For more information, please click here to visit the Hudson Hub information page.
1, 2 population.gov.au/data-and-forecasts/dashboards/fastest-growing-local-government-areas
Disclaimer: The information used in this document is indicative only and may not represent the final detail or accurately represent personal circumstances of each person. Cedar Woods gives no warranty concerning the accuracy of the material or information displayed in this blog. Prospective buyers should make their own enquiries and rely on their own investigations and independent advice. All information in this blog is subject to Terms of Use accessible at www.cedarwoods.com.au/Terms-of-Use.
