Six premier residential developments jostle for the spotlight
In addition to news of a new iconic design for 447 Collins Street, last week also yielded additional information on a handful of other sizeable Melbourne residential developments.
Spanning four separate suburbs, the six proposals are all substantial towers with the smallest containing some 321 dwellings. All bar one of the six have been championed by established property players which maintain a national presence, and combined are capable of adding near on 3,000 new apartments into the Melbourne market.
See below an overview of the six projects which are at differing stages of the development process:
SKY ONE Box Hill - 545 Station Street, Box Hill
The wraps are off Golden Age Group's newest project dubbed SKY ONE Box Hill. After picking up the approved development site in a recent sales campaign headed by CBRE, Golden Age Group have elected to rework the approved Buchan Group-designed 34 level tower.
In its place will stand a sleek 35 storey tower consisting of luxury apartment above retail uses across lower levels. Launching in the first quarter of 2016, SKY ONE Box Hill is a continuance of Golden Age Group's surge into the Melbourne apartment market which has yielded six high-rise projects in a few short years, including the under construction Victoria One which will eventually stand at 241 metres.
Shadow Play - 105 Clarendon Street, Southbank
BPM revealed last week that Melbourne builder Icon Co will construct its marquee Southbank residential tower. Valued at $300 million and designed by Elenberg Fraser, Shadow Play is expected to reach completion in May 2018 following the commencement of demolition on the existing structures onsite.
Included are 475 one, two and three bedroom apartments serviced by 150 podium parking spaces and a 600 square metre communal space across level nine.
32-44 Flinders Street, Melbourne
DEXUS Property Group's first foray into the local residential market has gone through the approvals ringer with a redesign implemented which saw the initial proposal trimmed from 66 levels to 56, while the total number of dwellings has also fallen from 625 to 496.
Melbourne City Council planners have recommended objection based upon excessive height, inadequate setbacks and overshadowing although DEXUS's intentions will lie with the Minister for Planning as the gross floor area of the building proposed is in excess of the 25,000sqm benchmark.
295-309 King Street, Melbourne
Also back under the gaze of Melbourne City Council is an application that first surfaced during October 2014. Council planners have recommended refusal for the tower based upon revised plans which were received on 14 October 2015 and which includes 440 apartments within a 215 metre tower.
Although the revised plans were submitted post the amendments to the Melbourne Planning Scheme which would consequently render the application invalid, its initial submission date during 2014 suggests it will likely be judged under the old planning provisions… or so the theory goes.
1 Collins Wharf, Docklands
The Australian reported last week on Lend Lease's latest addition to Victoria Harbour is in the form of a Bates Smart-designed residential tower. Covering 28 levels and encompassing 321 dwellings the stepped tower will sit diagonally opposite Library at The Dock and will be a follow-up the the precinct's premier apartment projects Convesso and Concavo, also Bates Smart creations.
1 Collins Wharf will follow on from the current six residential towers that are under construction within Victoria Harbour as Lend Lease enjoys robust demand for Melbourne apartments from both local and overseas purchasers.
38 Freshwater Place, Southbank
One of Melbourne's premier development opportunities is up for grabs with 38 Freshwater Place put on the market by M & L Hospitality. With approval in place for a 273 metre tower which could not be repeated under new planning rules, competition to secure the site is expected to be strong.
METIER3 have designed the sweeping tower with 496 apartments and 390 hotel suites included, although the successful buyer may choose to convert the scheme to a purely residential outcome.