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Posted on 10 July 2021

Making its first foray into Melbourne is Sydney-based Krost Business Office Furniture, a company showing strong confidence in the future of the office.

The company has paid $9.25 million for a 2371 sqm West Melbourne showroom-warehouse where they will set up their Melbourne flagship store.

Vinci Carbone agents Joseph Carbone and Frank Vinci brokered the deal for lot 3/617-643 Spencer Street.

The two-storey building, situated between Hawke and Abbotsford Street, is close to the long-standing Radio Rentals showroom and a short walk to the Errol Street shopping strip.

‘‘There’s a 60 metre frontage to Spencer Street and the fact they could brand the building that close to the city helped sell it. Finding that in Sydney is impossible,’’ Mr Carbone said.

The CBD fringe suburb has long been an office furniture precinct but some of the other long term players have moved on.

Rose Office Furniture moved to Port Melbourne after its site at 520-540 Spencer Street was sold to Crema in in 2019 for $10.95 million. Construction of a new apartment project is already under way.