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FISHERMANS BEND | 253-273 Normanby Road | 40L | 110m | Mixed Use

Mark Baljak's picture
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R.Corporation plan apartments, hotel, on OUP site

Local developer R.Corporation is planning to build two 40-storey skyscrapers on the Fishermans Bend factory it bought from Oxford University Press for $33.05 million last June.

The South Yarra-based developer's $252 million-project will contain 824 apartments and 153 hotel suites in twin-height towers soaring 109.5 metres.

Established by Andrew Rettig in 2000, R.Corporation's proposed 107,061 square metre complex will replace a low-rise warehouse near the Port Melbourne Cricket Club, also known as the North Oval.

The 7661 sq m holding at 253-273 Normanby Road was offered with a two-year leaseback to the global publisher, which bought the asset for $3.8 million in 1987. OUP, which opened its first Australian press in 1908 and is behind the Oxford English Dictionary, plans to relocate elsewhere in Melbourne with the sale proceeds.

Fishermans Bend is being reinvented with apartment skyscrapers following former planning minister Matthew Guy's landmark 2012 rezoning of 240 hectares of industrial land in Port Melbourne and South Melbourne.

http://www.theage.com.au/business/property/rcorporation-plan-apartments-...

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