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Perth-based property developer Cedar Woods Properties (ASX: CWP) has stepped up its investment in Melbourne's west with the launch of Smith Works, a new $22 million strata office warehouse development comprising 46 boutique units at Williams Landing Town Centre.
Plans for Smith Works come just six months after the company completed construction of Hudson Hub, a $120 million seven-storey office project located within the mixed-use residential and employment precinct.
Smith Works will target small and medium businesses with flexible commercial spaces ranging from 50 to 206 square metres and it is expected to support around 125 ongoing full-time equivalent positions once fully operational.
Cedar Woods Victorian state manager James Bovell says the project responds to demand from local business owners seeking purpose-built commercial space with proximity to town centre amenity and transport links.
“Smith Works marks the next stage of Williams Landing Town Centre’s commercial growth, creating space for local businesses that need more flexibility than a traditional office can provide,” he says.
“We’ve seen strong demand from local buyers for commercial spaces that can accommodate room for equipment, production or client-facing services, while still being connected to the amenity and transport links of an established town centre.”
The development forms part of Cedar Woods' broader Williams Landing Town Centre masterplan, which integrates the commercial offering with the suburb's existing retail precinct and train station.
The company says Williams Landing has evolved into one of Melbourne’s west’s most active commercial destinations, with more than 300 businesses already operating within the precinct.
The town centre is supported by established retail, dining, health and fitness, childcare and essential services, as well as strong transport links.
Williams Landing sits within the City of Wyndham, one of Melbourne's fastest-growing municipalities where the population reached almost 350,000 last year, growing at 3.73 per cent year-on-year or almost twice as fast as greater Melbourne.
Melbourne's western industrial corridor continues to attract occupier interest, though broader market conditions are shifting, according to recent data from Knight Frank.
The data for the first quarter of 2026 shows the west precinct recorded 210,000 square metres of take-up, the strongest of any Melbourne industrial precinct over the period.
However, the west's vacancy rate rose to 5.2 per cent from 4.6 per cent in the prior quarter despite no new supply being delivered, suggesting some occupier consolidation is underway.
Prime net face rents in the west averaged $140 per square metre, up 6.1 per cent year-on-year, while prime incentives sat at 26.1 per cent, the highest of any Melbourne industrial precinct.
Across Melbourne's total industrial market, vacancy stands at 4.5 per cent, above the 10-year average of 2.6 per cent, with prime rents averaging $153 per square metre and 714,000 square metres of new supply forecast for delivery in 2026.
Smith Works occupies a distinct segment from the large-format logistics and warehousing assets tracked in broader industrial data, with its strata units pitched at owner-occupiers and small businesses rather than institutional tenants.
Architecturally designed by Archsign, Smith Works has been conceived to accommodate a diverse range of businesses, from e-commerce operators to gyms and pilates studios.
Featuring a brick, timber and glass façade, the project’s contemporary design is characterised by openness and natural light, which Cedar Woods says represents an intentional departure from the traditional office-warehouse format.
"Smith Works reflects the evolving needs of modern businesses and the expectations of today’s workforce, delivering a workplace environment that is both functional and inspiring," says the company.
Cedar Woods has called for expressions of interest for the Smith Works project ahead of the full market launch planned for July.
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