Lloyd Williams joins the latest apartment development push at Southbank
The businessman Lloyd Williams is seeking permission to replace his low-rise corporate headquarters with a 304 apartment, 40-level apartment tower at 248-280 Sturt Street, near the corner of Kings Way.
The 120 metre residential tower will have silver reflective glazing to a Elenberg Fraser design.
With its building form consisting of two dominant floor plates connected by a transitional twist, the tower smacks of cutting edge quality, according to the blog, urbanmelbourne.
Starryland Melbourne has recently secured permission for its 54 storey apartment block at 84-90 Queensbridge Street, Southbank. Its a 295 apartment Rothe Lowman-designed project.
Meanwhile the listed Malaysian conglomerate PJ Development Holdings has purchased a two-hectare Southbank, Melbourne city fringe car-park site for $145 million.
The 93-119 Kavanagh Street development site (pictured above) was sold by interests associated with the Banco Group directed by Mario LoGiudice.
There are expectations of a $1 billion project by the PJD group.
There has been speculation in Malaysia that there has been speculation that PJD may embark on a corporate exercise to raise funds or to be merged with OSK Property Holdings Bhd to form a bigger entity.
Both property development outfits are controlled by veteran investment banker Tan Sri Ong Leong Huat who holds 26.8% and 70% stakes in the companies respectively.
The off-market transaction brokered by Knight Frank agent Paul Henley highlights the renewed interest in the precinct by developers.
The two hectare Southbank site occupies the block bound by Kavanagh, Power and Balston streets, the West Gate Freeway and the Citylink Operations Maintenance building.
It is capable of accommodating six residential skyscrapers, with Banco securing permission in 2001 for five mid-rise office buildings.
Some $400 million of Southbank land sales have taken place in the past year, including a site abutting the West Gate Freeway off-ramp, sold for $7.5 million last week.
It was the 65 Haig Street site of just over 1000 square metres which had potential for a 33 level high-rise.
Longtime Southbank developer Central Equity acquired the 54 Kavanagh Street site for $27 million in May.