_Abbotsford arrives as the new kid on the block

Abbotsford is set to emerge from the shadows of Collingwood, in much the same way Cremorne recently emerged from the shadows of Richmond. For Abbotsford is undergoing a modern-day renaissance that is turning it into a lively and enterprising suburb. 

Boasting picturesque tree lined streets and backing onto the Yarra River, Abbotsford possesses natural beauty not all fringe suburbs can lay claim to, and its close proximity to Hawthorn means the suburb has access to the well-heeled – a strategic plus for businesses seeking well-educated young staff. 

Being situated east of Collingwood and north of Richmond, Abbotsford stands to receive knock-on commercial demand from both suburbs, and already we have seen high rents in Collingwood cause tenants to look at Abbotsford as an alternative option close to the CBD. HUB furniture’s shift from the CBD to Abbotsford exemplifies this trend that should in time legitimise Abbotsford as an appealing destination for business. 

With rents and site values at a meaningful discount to neighbouring markets and 35,974 sq m of office development awaiting permit approval, it seems inevitable Abbotsford will see commercial growth. And while nobody is declaring Abbotsford to be the new Cremorne just yet, it has its own iconic Melbourne landmarks and unique character. In time, perhaps Abbotsford’s historic CUB building will one day become emblematic of cool in the way the Rosella building is today in Cremorne. 

Indeed, seemingly attracted to the area’s cool credentials, more Millennials call Abbotsford home than any other inner-city suburb in Melbourne. And, if you venture into one of the myriad cafes along the suburb’s leafy streets, you’ll see that that the younger generation not only want to live in Abbotsford, they also want to work there. Growth, it would appear, is inevitable in Abbotsford.