Surging demand for flexible and coworking office space in Melbourne’s inner-eastern suburbs continues to fuel Waterman’s rapid expansion across the city’s premier shopping precincts, with the flexible workspace provider announcing its latest opening at ISPT-owned Camberwell Place.

Located in one of Melbourne’s most in-demand eastern suburbs, Camberwell Place is in the heart of Camberwell, close to amenities and services, public transport and connectivity to Monash Freeway.

Sam Curry, General Manager, Retail for ISPT, said the evolution of Camberwell Place demonstrates the company’s ESG commitments and community-focused retail strategy.

“We’re excited to be partnering with Waterman to reinvigorate the centre and breathe new life into the heart of Camberwell,” Curry said.

“This transformation from retail into flexible workspace will highlight and maximise some of the centre’s greatest features, including its abundance of natural light and complementary surrounding retail. We look forward to enhancing our offering for local residents while supporting the growth of people and businesses in the local community.”

Camberwell Place

“Camberwell is an important business district for Melbourne, we’re thrilled to be bringing a flexible workspace centre to such an iconic location and working with ISPT,” said Neville Waterman, CEO of Waterman.

“The area is home to a broad-spectrum population, from established and growing families to professionals, business owners and innovative startups, many of which are looking for more convenient and more sustainable workplace solutions.

“CBD workers and businesses from Boroondara and surrounding areas stand to benefit hugely from the new Waterman coworking centre, as it cuts more than 20 minutes off their daily public transport or vehicle commute to and from the city,” Waterman said.

Waterman Camberwell (render), is scheduled for an August 2023 opening

Scheduled for an August 2023 opening, the 1,475m2 site will have small and large office spaces, as well as coworking, meeting rooms and breakout areas. Located in Camberwell Place, with direct entry from Burke Rd, the Waterman workspace will be a moment’s walk from amenities, public transport and connectivity to the Monash Freeway and Camberwell’s thriving dining, shopping and entertainment precinct.

Today’s announcement adds to Waterman’s position as Melbourne’s leading provider of flexible workspaces in key shopping precincts and suburban growth areas. Camberwell Place builds on the company’s four mature sites in the east – Chadstone, Narre Warren, Eastland and Caribbean Park – all of which are bordering on full capacity with occupancy rates growing to 95% in the last year.

Waterman’s two most recent centres, in Richmond and Bundoora, are also filling rapidly, encouraging the company to expedite their pipeline of new centres in key growth and development areas.

“Much like our other centres, we know Camberwell Place is going to be hugely welcomed by busy working parents, professionals, small business owners and enterprise customers in the area,” Waterman said.

“Today’s announcement is the latest instalment in our long pipeline of openings, as we seek to meet the demand for sustainable and flexible workplaces in Melbourne’s suburbs.”

Camberwell Place is in the heart of Camberwell

Camberwell Profile
Camberwell is one of Melbourne’s most in-demand residential and lifestyle locations, with a high proportion of workers with flexible working options and a propensity for vehicle-based travel:

• The population for the City of Boroondara is forecast to increase by 20.80% growth or 205,203 by 2041. Camberwell alone is forecast to grow above that rate, at 27.38% by 2041.1 Across all suburbs within the Boroondara LGA boundary, Camberwell is expected to see the greatest increase in population over coming years.
• Office jobs make up the top three occupations in Boroondara. Currently, 60,700 or 69.8% of the City of Boroondara’s resident workers travel outside of the area to work. Of that figure, around 40% are travelling into the city or inner-city areas for work.
• Almost 40% (31,124) of local Boroondara workers travel to work by car, with only a handful travelling by public transport (4.9%). This is likely a reflection of the higher-than-average rate of working from home individuals, 39.7% in Boroondara compared to 25.8% state-wide for Victoria.