MYOB to become largest employer in Silicon Yarra
01 Mar 2018
MYOB expands its footprint to become largest corporate resident in Cremorne, announcing move into iconic Nylex clock new development, The Malt District.
MYOB has today announced a deal that will make it the largest corporate resident in Cremorne. Fast becoming the tech hub of Australia, MYOB’s announcement cements its position in the heart of “Silicon Yarra” and will make way for more than 1000 staff to occupy its combined premises of 14,000 square meters.
From February 2020, MYOB will occupy the office precinct of the new Malt District developed by Caydon. In a significant deal facilitated by Colliers International’s Matt Cosgrave, Rob Joyes and Michael Darvell, MYOB will take on the 8,800 square meter property located at 17-21 Harcourt Parade, Cremorne adding to the 5,250 square meters it currently holds, and will retain, across the road.
“This is a significant investment in the future of our business. We are currently in a period of fast growth with employee numbers set to increase by 25% this year alone. Opening our Cremorne office in 2016 has been an extremely positive move and this expansion further confirms our role as one of Australia’s leading tech businesses,” said MYOB CEO Tim Reed.
Caydon’s The Malt District will transform a former industrial site into a landmark destination. The precinct will combine iconic Melbourne landmarks such as the Nylex clock, with modern apartments, generous public space, boutique workspaces and retail – much of which will be built into existing buildings.
“The Malt District is set to become one of Melbourne’s iconic mixed-use locations. Featuring artists and makers, restaurants, a microbrewery with a gastro pub, a boutique hotel, shops, grocers and a rooftop bar, we believe MYOB is a fantastic addition to this creative and cultural hub,” said Caydon Principal, Joe Russo.
MYOB will maintain its current location at 167 Cremorne St, Cremorne which is currently undergoing a significant expansion and is set to accommodate more than 450 employees by June this year. In 2020, the business will move more than 550 employees from its current Glen Waverley location to the new Malt District location resulting in the bulk of MYOB staff nationally being located in the tech hub.
“This is an exciting opportunity for MYOB and demonstrates our commitment to invest in our people. Our current workplace in Cremorne has had a truly positive impact, and we are thrilled to be able to co-locate our employees, with all of the collaboration and engagement benefits we believe this will deliver. We understand the opportunity this iconic location provides to further evolve our Workplace Experience, attract talented team members and enrich our culture,” said MYOB Chief Employee Experience Officer, Helen Lea.
For further comment or other information please contact:
Amy Kirkwood, Australia PR and Corporate Communications Manager, MYOB
M: 61 427 822 088
MYOB Group Ltd (ASX: MYO) is a leading provider of online business management solutions. MYOB makes business life easier for approximately 1.2 million businesses across Australia and New Zealand by simplifying accounting, payroll, tax, practice management, CRM, job costing, inventory and more. MYOB operates across three core segments – Clients and Partners (business solutions to SMEs and Advisers); Enterprise Solutions (larger businesses) and Payment Solutions. It provides ongoing support via many client service channels including a network of over 40,000 accountants, bookkeepers and other consultants. It is committed to ongoing innovation, particularly through its Connected Practice Strategy and through the development of the MYOB Platform. For more information, visit http://investors.myob.com.au/Investors or follow @MYOB on Twitter.