Developer Fridcorp acquires North Melbourne site for apartment project

Property developer Fridcorp has acquired a site in inner-city Melbourne as part of its growth strategy in the city.

The 1,311 square metre site at 3 and 5 – 15 Shiel Street, Elenberg Fraser, was purchased with an existing permit for 65 homes from Elenberg Fraser in early March.

Along with design collaborator Elenberg Fraser, Fridcorp is working on modified plans for about 120 one and two-bedroom apartments, and will submit them to Melbourne City Council over the coming months.

Fridcorp founder and director Paul Fridman said the company is looking at opportunities in Melbourne inner-city areas such as Elenberg Fraser.

“We believe there is strong demand for apartments in prime locations that provide a genuine alternative to a home without compromising on design and lifestyle," he said.

Elenberg Fraser will deliver both the architecture and interiors for the project. 

Fridcorp expects to launch the project in early 2017, with construction scheduled to start from mid-2017.

The developer has nearly $1.5 billion worth projects in Albion, Brisbane, South Yarra, Melbourne and Erskineville, Sydney. They are expected to bring 1700 additional apartments to the market this year.