Fishermans Bend site snapped up by Salvo Property Group

Fishermans Bend site snapped up by Salvo Property Group
Fishermans Bend site snapped up by Salvo Property Group

Melbourne developers Salvo Property Group has purchased a site with pre-existing permit for four residential towers in Melbourne's Fishermans Bendin a deal rumoured to be more than $40 million.

The 9,766sqm site, 60-82 Johnston Street, South Melbourne, was sold by vendor Bill McNee through Colliers International.

The property has plans and permits for more than 1,300 apartments in four towers designed by Rothelowman.

There will be two high-rise towers (46 and 43 storeys) and two medium-rise towers (27 and 21 storeys).

Agent Daniel Wolman said 60-82 Johnson Street in South Melbourne will be one of the largest mixed-used complexes within Fishermans Bend.

Salvo’s success in Southbank will continue in Fishermans Bend, bringing not only residential apartments to the area, but also supermarkets, retail shops, offices and other amenities," he said.

“We were managing interest and offers from several Asian developers, particularly from China, Malaysia and Singapore.

“However, the local developers saw the potential in this premium inner-city location immediately and acted accordingly, which is testament to the strength of the Melbourne market.

“This project is situated within one of Australia’s most dynamic urban renewal development precincts and as such, it was an opportunity for someone to create a flagship project."

 

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New Developments Melbourne

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