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Adam Ford's picture
#27

Step downs or differing forms should somehow be encouraged in podiums /podia?
Councils guidelines basically prescribe a podium in pretty broad terms but again I suspect their worrying about podium height has inpart delivered us the pretty uniform six storeys of carparking built to the boundary that podia - I'm going with that- tend to take in this c ity.

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Qantas743's picture
#28

I count 60 or 61 levels.

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Mark Baljak's picture
#29

SOUTHBANK | Home Southbank, 256-266 City Rd | 60L | ~190m | Build-to-Rent

SOUTHBANK | Home Southbank, 256-266 City Rd | 60L | ~190m | Build-to-Rent

SOUTHBANK | Home Southbank, 256-266 City Rd | 60L | ~190m | Build-to-Rent

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Qantas743's picture
#30

Southbank’s Monarch Tower may avoid new high-rise clamps giving it a view bonus

http://www.heraldsun.com.au/business/southbanks-monarch-tower-may-avoid-...

SOUTHBANK’S Monarch Tower may never reach the beanstalk heights of some other Melbourne skyscrapers now being built, but its developers appear to have captured the golden goose of views.

The 62-level luxury apartment and penthouse project by Altus Development was one of the last high-rise residential proposals given conditional approval by the former state government under the old 60:1 plot ratio permits.

Before the end of the year, Planning Minister Richard Wynne is expected to enforce a more stringent 18:1 ratio, limiting the height of towers to a proportion of their footprints.

The current interim ratio is 24:1, which means apartment buildings cannot have a total floor space greater than 24 times the size of the site at ground level.

If Altus achieves the “secondary consent” it now needs from the Ministry of Planning, it will have collected the unexpected bonus of 360-degree uninterrupted views for most of its apartments.

“We could be the last of the Mohicans,” said Valentino Spyriadis, whose Bella Charlton agency will be selling Altus’s apartments.

The height restrictions on any future sites near Monarch’s 258 City Rd address mean residents living in the top half of the development will not have views blocked by other towers.

“Under current regulations, a new developer would only get a permit for a structure 50 per cent shorter than Monarch,” Mr Spyriadis told Commercial Property.

“That means that anyone buying into our development from level 33 upwards will benefit from views of the river, the CBD, the bay and beyond which will never be overshadowed by a high-rise next door,” he said.

Although Altus was given the nod before the tight height rules come into force, Mr Spyriadis said that for other developers the near future looked less rosy.

“A lot of sites purchased anticipating a high yield will now have to sit on their land because economically it is not feasible for those buyers to develop the type of properties they had expected to before the rules changed,” he said.

“The Victorian Government’s new planning rules will make this state more predictable where planning matters are concerned, but at the same time diminish some of the advantages we have enjoyed over other markets such as Sydney.”

The Monarch Tower will include 12 levels of penthouses and have 130 serviced apartments. If all goes to plan, when the Monarch building is finished it will be among the tallest residential apartments in Southbank.

However, a couple of other towers in the suburb will soar higher still, including the 100-level Australia 108 due to be completed in 2020 and a 71-storey high-rise at 25-35 Power St.

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Mark Baljak's picture
#31

What a load of shite, CE's tower next door may get approval under the old rules at a higher outcome

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3000's picture
#32

Monarch Tower, I love how bad these names are starting to get.

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Mark Baljak's picture
#33

Sales set to begin next week

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melbourne's picture
#34

Good news. Hopefully it makes it to construction a bit quicker than the Altus.

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Danny Boy's picture
#35

SOUTHBANK | Home Southbank, 256-266 City Rd | 60L | ~190m | Build-to-Rent

SOUTHBANK | Home Southbank, 256-266 City Rd | 60L | ~190m | Build-to-Rent

SOUTHBANK | Home Southbank, 256-266 City Rd | 60L | ~190m | Build-to-Rent

SOUTHBANK | Home Southbank, 256-266 City Rd | 60L | ~190m | Build-to-Rent

SOUTHBANK | Home Southbank, 256-266 City Rd | 60L | ~190m | Build-to-Rent

SOUTHBANK | Home Southbank, 256-266 City Rd | 60L | ~190m | Build-to-Rent

SOUTHBANK | Home Southbank, 256-266 City Rd | 60L | ~190m | Build-to-Rent

SOUTHBANK | Home Southbank, 256-266 City Rd | 60L | ~190m | Build-to-Rent

SOUTHBANK | Home Southbank, 256-266 City Rd | 60L | ~190m | Build-to-Rent

SOUTHBANK | Home Southbank, 256-266 City Rd | 60L | ~190m | Build-to-Rent

SOUTHBANK | Home Southbank, 256-266 City Rd | 60L | ~190m | Build-to-Rent

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Danny Boy's picture
#36
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Qantas743's picture
#37

Hope they have better luck with this one than they did with Altus.

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Qantas743's picture
#38

Someone over at SSC has said demolition has commenced on this.

Not so sure about this one given it's the same mob who were behind the failed Altus project in Docklands plus the lack of any meaningful marketing campaign - haven't seen anything anywhere other than the website.

Maybe just to keep the permit ticking over?

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Dean's picture
#39

Sales have been on going since mid last year

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melbourne's picture
#40

Its got 130 or so serviced apartments by Pan Pacific Group included plus 12 levels of penthouses which I'm sure would make it a bit easier to sell (granted the penthouses are sought after)

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melbourne's picture
#41

This site is up for sale now, "Mortgagee sale" - not surprised, the demolition began but pretty much came to a halt.

https://www.realcommercial.com.au/property-land+development-vic-southban...

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pdoff's picture
#42

Pity, it's a nice tower. Great video too.

Still if it flushes out a serious developer and we avoid the years of Altus-style uncertainty it can still be a good thing.

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Qantas743's picture
#43

This one has been sold off market according to the sales billboard.

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Mark Baljak's picture
#44

Grocon to bring major build-to-rent to heart of Melbourne

Construction and development company Grocon is set to bring a major build-to-rent project to the heart of Melbourne's Southbank with more than 400 apartments for executive-style tenants.

Grocon has purchased a $35 million site at 256-266 City Road, Southbank, in an off-market deal brokered by Lemon Baxter's Richard Hutton on behalf of private group Altus Property.

The 1262 square metre site has a permit for 410 apartments over 62 levels.

Grocon declined to comment on its purchase but The Australian Financial Review understands that the developer will use the site for a build-to-rent development aimed at executive tenants.

Such tenants will help boost the rent and make the investment return stack up in what is otherwise a very difficult sector to make work. Build-to-rent is where multiple apartments are owned by one main owner and rented out as opposed to build-to-sell where multiple apartments have multiple owners.

Read more: http://www.afr.com/real-estate/grocon-to-bring-major-build-to-rent-to-he...

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Qantas743's picture
#45

Interesting to see how this one goes given Grocon haven't been able to get much off the ground themselves lately!

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zenith's picture
#46

They've got plenty of work interstate.

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Mark Baljak's picture
#47

SOUTHBANK | Home Southbank, 256-266 City Rd | 60L | ~190m | Build-to-Rent

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Qantas743's picture
#48

Would be good to know what is actually being built here. Does anyone know if they're proceeding with the approved scheme or envelope?

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Mark Baljak's picture
#49

Looking like the reworked scheme for Grocon - background might give away the architect

SOUTHBANK | Home Southbank, 256-266 City Rd | 60L | ~190m | Build-to-Rent

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pdoff's picture
#50

Can't see how that could improve on the original design even when more details are added. This'll be one that got away..

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pdoff's picture
#51

Eerr.. bump?

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