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Mark Baljak's picture
#402

402 Chapel close to starting - new design

SOUTH YARRA | 3141 | Projects

Noir

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Michael Berquez's picture
#403

Yuck at 402 Chapel Street....marginally better than what's there now, which isn't saying much.

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Mark Baljak's picture
#404

Melbourne’s Jam Factory set for overhaul

SOUTH YARRA | 3141 | Projects

SOUTH YARRA | 3141 | Projects

The Jam Factory cinema and dining precinct on Melbourne’s famed shopping strip Chapel Street is set for an overhaul, with plans lodged for an expansive retail and office development.

Owner Newmark Capital is planning to invest more than $450 million to transform the South Yarra site, with hopes of benefiting from the residential boom underway in the neighbourhood and serving as a catalyst for the area.

The project will feature 50,000 square metres of retail, cinemas and dining with pedestrian laneways.

Another 50,000 square metres of office space will be spread across four buildings that can be subdivided into smaller tenancies with floor plates of up to 4,000 square metres.

The investment comes in defiance of concerns about the health of the retail sector. Commercial agents have been touting Chapel Street as a counter-cyclical investment proposition given the vacancies on the strip.

Newmark joint managing director Chris Langford acknowledged that parts of the street were not the destination they used to be, but said other parts were thriving.

“Retail evolves very quickly and when you have landlords who haven’t kept investing in their properties … then you fall behind,” Mr Langford said, adding that other landlords had invested and supported the area.

The two-hectare site in the city’s inner south east could have housed a residential project. But joint managing director Simon T. Morris said the group preferred to create a work environment rather than adding supply to the “already flourishing” residential market.

Newmark hopes to attract office tenants in the creative industries such as marketing, media and IT. The site currently houses 8,500 square metres of office space occupied by Village Roadshow.

http://www.theaustralian.com.au/business/property/melbournes-jam-factory...

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Michael Berquez's picture
#405

15 storey office tower for SY is nothing to sneeze at.

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theboynoodle's picture
#406

I hope any redevelopment is configured to allow the 'insertion' of a MMR station. IIRC we have been told that the MMR construction plan itself allows for this to be done later, but that it would require acquisition of part of the Jam Factory.

I wonder if this proposal might even impact the cost-benefit calculations that resulted in South Yarra being excluded from the initial plan. All of a sudden there may be planning consents being sought that allow for some value capture. At the very least, you'd like to think that the State/Metro rail might come out of this owning the land they would need to acquire.. rather than granting permission to redevelop it and make any future acquisition even costlier.

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Mark Baljak's picture
#407

55 Claremont looks cooked
SOUTH YARRA | 3141 | Projects

Royal Como & 661C
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Dean's picture
#408

4248 , The 'spinal scraper' is out to tender. 25 levels and around 85m

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Mark Baljak's picture
#409

Michael Yates to offload site after unit sales flag: 'All cycles come to an end'

Melbourne Michael Yates is stepping back from the apartment game, after the offer of an electric BMW wasn't enough to tempt enough buyers to his last planned development.

The veteran of inner Melbourne's prestigious South Yarra said he was not leaving development, but has sub-leased his office, saying the slowing apartment market had prompted him to "take it easy for a year or so".

The 73-year-old Mr Yates is now selling the 55 Claremont Street site he marketed last year after only getting buyers for 20 of the 37 apartments in the planned development. Despite purposefully going for a smaller, more boutique project, in response to what he said was a shift in market preference away from larger projects, there wasn't enough demand, he said.

"Sales were slow," Mr Yates said. "We didn't reach the required numbers for finance. Building costs have also blown out."

It is the last site he owns.

The developer who made a $36 million profit in 2014 from selling a site at 661 Chapel Street in South Yarra - which Malaysian developer Gamuda is now building on - is selling the Claremont Street site, for which he was offering apartment buyers the incentive of a shared electric vehicle, and has joined it with a neighbouring one owned by cleaning company AES Services boss George Haritos to make one 969-square-metre site.

Read more: http://www.afr.com/real-estate/michael-yates-to-offload-site-after-unit-...

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Melbourne Oracle's picture
#410

SOLD sticker on Peter Rowlands site at 10 River Street, South Yarra today. Heard it might become International Boutique Hotel? I’m all for the idea of an actual ‘destination’ F&B Hotel in that location. QT Rooftop in River Street?

To know a little, about alot.

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Mark Baljak's picture
#411

Over 2,000sqm site, could take resi and hotel towers

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Mark Baljak's picture
#412

Alfasi Property Development to build a new 4.5-star hotel in South Yarra

SOUTH YARRA | 3141 | Projects

Alfasi Property Development has acquired a development site at 2-10 River Street, in Melbourne's South Yarra, for $18 million to build a 150-room, 4.5-star international hotel.

The 2116sq m commercially zoned site will be home to APD's first hotel development and will join the group's growing list of development and building credentials including its latest office development at 510 Church Street, Cremorne, in Melbourne and its subcontractor work on the Marina Bay Sands Hotel development in Singapore.

The Cremorne site at 506-508 Church Street was acquired for about $25 million late last year.

It also previously sold two sites with hotel permits in Sydney – Singapore hospitality giant M&L's new hotel at 65 Sussex Street and the hotel and residential project at 183-185 Clarence Street.

At 2-10 River Street APD, the property development arm of Alfasi Group, a provider of services to the construction and development sectors, is planning a nine-level hotel to be operated by an international hotel brand, which is yet to be announced. APD has just closed the final round of discussions with two international brands and is expected to sign term sheets in the coming week.

Read more: http://www.afr.com/real-estate/alfasi-property-development-to-build-a-ne...

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Mark Baljak's picture
#413

Hotel by Rothelowman at 35-41 Claremont Street

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Melbourne Oracle's picture
#414

Rumour of Hyatt being the selected operator by Alfasi for River Street... If so, this is a game changer for South Yarra.

To know a little, about alot.

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redden's picture
#415

Can't see a mention here, but Dean reported, on Nov.8th, that Yarra One is out to tender. Since I live locally, I drop by regularly, hoping to see demo signs up on the Roger David building. This project will potentially give Claremont Street a heart and lungs, by opening up that dark and narrow walkway through to Daly/Chapel Street. Also, the planning notice up for 6-8 Claremont says it's a 24L student project. If it's still the Bates Smart design with all the balconies, it's a very classy student project.
http://www.skyscrapercity.com/showthread.php?t=513904&page=140

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MelbourneGuy's picture
#416

Makes you wonder as to what students the project is aimed at. Maybe the international students at Melbourne High?

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3000's picture
#417

That's it. They are the only ones who can afford it.

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Michael Berquez's picture
#418

How do you know who can afford what????

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3000's picture
#419

You mean the many, many international students I went to uni with who had the parents pay for their accom or student res?
So no, they personally cannot afford it, but their parents can.

Don't be an idiot Michael, you know exactly who student accom is aimed at.

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Michael Berquez's picture
#420

Idiot? Charming.

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redden's picture
#421

There's action on the Aloft hotel site, 402 Chapel Street at last. The Chapel Street frontage looks pretty much unchanged, but, when you look closer, the place has already been gutted, so won't take much longer. It's a big site, with four frontages. Apart from Chapel, there's Simmons, Little Chapel and Grey Street. The big Society apartment tower is diagonally across Little Chapel, from the rear of the 402 site.

SOUTH YARRA | 3141 | Projects

SOUTH YARRA | 3141 | Projects

SOUTH YARRA | 3141 | Projects

SOUTH YARRA | 3141 | Projects[/QUOTE]

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Mark Baljak's picture
#422

Looks like a redesign for 671 Chapel - plenty of room for a chopper on top......

SOUTH YARRA | 3141 | Projects

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redden's picture
#423

I have a feeling that Mr Fox will remain the only one with landing rights in this area. 671 looks good and has as close to permanent view security as you get, with Melbourne High directly behind it.

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HSY_07's picture
#424

It seems the new design for 671 contravenes most of the guidelines in the new Chapel Street Activity Centre.

Even 661 wouldn't cut it under the new guidelines and this goes higher again towards the river when the zoning suggests built form to Chapel Street should be stepping down...

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redden's picture
#425

402 Chapel (Aloft hotel site).

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SOUTH YARRA | 3141 | Projects[/QUOTE]

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redden's picture
#426

Welcome news with an SSC post by kiwian that the long awaited demolition of the Roger David building in Claremont Street, South Yarra has begun. Bring on Yarra One!

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