Ledlin Plots $13m Somerville Premium Business Park

Ledlin Developments has filed plans for a $13-million project comprising 16 strata office-warehouses across a 4227sq m site on the Mornington Peninsula. Founder Oscar Ledlin said the development, Somerville Business Park, would be the first of its kind in the area. “There hasn’t been a project delivered in this pocket of the Peninsula with the level of finish, sustainability, or community focus that we’re planning here,” Ledlin told The Urban Developer . “This is about creating a product that feels premium and personal—not just functional.” The Somerville site is around 50km south of the Melbourne CBD and one of two Mornington Peninsula acquisitions completed by Ledlin in March. With a portfolio now valued past $100 million, Ledlin’s focus on smaller, strategic acquisitions reflects current market conditions, where industrial land prices have declined 25 to 30 per cent from their peak. Ledlin said the Somerville project would blend affordability with sophistication, specifically targeting younger investors within the group’s existing network of around 3000 registered buyers. Construction is due to begin in the fourth quarter of 2025, and completion is planned for the third quarter of 2026. The units of 140 to 220sq m would include first-floor offices with polished concrete floors, stone benchtop kitchenettes, extensive landscaping and outdoor pergolas, alongside informal seating zones to foster collaborative business environments. ▲ Renderings of the proposed Somerville Business Park. The development plans include environmental, social and governance features such as solar power systems across all units, insulation manufactured from reclaimed glass bottles, double-glazed argon gas-filled windows for thermal efficiency, and outdoor furniture constructed from reclaimed ocean plastic. Ledlin attributes market demand to post-pandemic decentralisation trends from Melbourne’s central business district, combined with historically low commercial supply in the area and relatively high affordability compared to metropolitan markets. “The decentralisation of the CBD has been a key driver post-Covid,” Ledlin said. “We’ve seen residential demand explode across the Peninsula—now that energy is flowing into warehousing and creative commercial space.” The project will be marketed to Ledlin’s registered buyer network in June 2025, with early sales conducted online. Ledlin expects the Somerville development to sell out within minutes, following its Vermont Inc launch which sold out in six minutes . Hundreds of enquiries had already come in, he said, with dozens of occupiers expressing serious intent for sales and leasing arrangements. ▲ Ammache Architects' render of the Vermont Inc project in Melbourne's Vermont by Ledlin. Architecture firm Ammache Architects will manage the design, with interior and exterior design by LF Studio, and branding and creative direction by Hoyne. “We’ve built a loyal buyer network who know our work and trust our delivery—we don’t need branding to sell this project,” Ledlin said. “But great design deserves great presentation, and Hoyne’s work will elevate the identity of this development well beyond the transaction.” Ledlin, who originates from Somerville, brings deep local connections to the development. The project marks his fifth development site within the Mornington Peninsula Shire, reinforcing the company’s regional commitment. The company has seen strong rental growth across its other Peninsula projects and maintains confidence in long-term capital growth potential for the area. “This is a full-circle moment for me,” Ledlin said. “My first project was in Somerville, and I’m looking forward to delivering an elevated offering, premium amenities and a design-led product to the young businesses increasingly opting for properties further from the CBD, many of which are already Ledlin VIPs or otherwise connected to the Ledlin brand.”

Industrial
Leon Della Bosca
Fri 27 Jun 25

Ledlin Plots $13m Somerville Premium Business Park

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IndustrialLeon Della BoscaFri 27 Jun 25

Ledlin Plots $13m Somerville Premium Business Park

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Industrial
Leon Della Bosca
Fri 27 Jun 25