<a href="https://www.apartments.com.au/developers/skymark-group">Skymark</a>'s boutique Cronulla development Solis has secured a 10-year Latent Defects Insurance policy through Resilience Insurance, providing buyers of the 16-residence building on Ewos Parade with structural and waterproofing protection that extends a decade beyond the building's completion.

Currently under construction and due for completion in late 2027, <a href="https://www.apartments.com.au/new-apartments/solis-cronulla-8-ewos-parade-cronulla-nsw-2230">Solis</a> is one of a small number of new developments in the Sutherland Shire to carry Resilience LDI coverage, a distinction that carries increasing weight as buyer confidence in the off-the-plan sector continues to be shaped by how developers stand behind their product.

Latent Defects Insurance, which entered the Australian market in 2022 when Resilience Insurance was approved to offer the cover, protects buyers against major structural or waterproofing defects for ten years post-completion. Unlike traditional statutory warranties, it operates as a first-resort policy, if a covered defect arises, the insurer responds directly, without the buyer needing to pursue the builder or developer through a lengthy claims process.

Resilience Insurance CEO Corey Nugent has noted that the product addresses something fundamental to the new apartment market.

"The overarching feedback from prospective buyers in the new development space is that they want more confidence and assurances around the quality of the build," Nugent says.

"Resilience Insurance Latent Defects Insurance not only gives them complete peace of mind for 10 years, but it shows the developer they are buying from is standing by their product."

[smartcode_project:default project_id=150499 project_image_fid=370898]

For Solis, the Resilience LDI policy adds a meaningful layer of accountability to an already considered project. The development comprises nine two-bedroom and seven three-bedroom residences, including one dual-level three-bedroom apartment, across a five-storey building on Ewos Parade, positioned between Shelly Beach and South Cronulla.

Garden apartments connect directly to private landscaped courtyards, while upper-level homes capture beach views to the east from level four and above.&nbsp;

All 16 residences include at least one balcony or courtyard, and select apartments on the upper floors feature bar areas and secondary flexible living spaces.

Hiba Sander, Managing Director of Skymark, says Solis offers a rare balance, nestled between the quiet beauty of secluded beaches and the lively charm of South Cronulla's esplanade.

"It's a place to choose your pace and live gracefully, seaside'," Sander says.

[smartcode_project:default project_id=150499 project_image_fid=370900]

The architecture, designed by <a href="https://www.apartments.com.au/architects/ida-design-group">IDA Design Group</a>'s Michael Trinh, draws from the natural erosion patterns of <a href="https://www.apartments.com.au/developments/cronulla-nsw-2230">Cronulla</a>'s sandstone headlands, translating the organic forms of the coastline into soft curves, pavilion-style massing, and a material palette chosen for longevity in a salt-tinged environment.&nbsp;

Textured natural stone, soft renders, and timber-look battens reference the tones of the surrounding cliffs, while the building has been oriented to maximise natural light and passive ventilation, with primary living spaces facing north and east to capture morning sun and sea breezes.

"At Solis, our aim was to create architecture that feels quietly confident, grounded in natural materials like stone and timber, and elevated by light and landscape," Trinh says.&nbsp;

"The buildings are designed to sit gently within their coastal surrounds, with expansive glazing and abundant greenery creating a seamless dialogue between inside and out."

[smartcode_project:default project_id=150499 project_image_fid=370897]

Interiors by <a href="https://www.apartments.com.au/architects/hot-black">Hot Black</a> carry the same material language through to every room. Kitchens feature integrated Gaggenau appliances, sculpted stone benchtops, and Lo &amp; Co joinery, while bathrooms feature natural stone, timber, and brushed metal finishes.&nbsp;

Hot Black Founder and Design Director Sophie Safrin describes the intent as one of considered restraint: "At Solis, every detail has been thoughtfully considered to create a timeless coastal retreat, calm, refined, and effortlessly liveable. From natural finishes to seamless indoor-outdoor flow, Solis offers a quiet elegance that's deeply connected to its surroundings.

The landscape, designed by Julian Brady of <a href="https://www.apartments.com.au/landscape-architect/sitedesignstudios">Site Design Studios</a>, treats green space as an integral part of the resident experience rather than an afterthought.&nbsp;

"Gentle curves and layered native plantings mirror the ebb and flow of the ocean," Julian Brady says, "creating a serene connection between architecture and place."&nbsp;

Coco Republic has provided bespoke furniture packages tailored to the project's coastal palette.

[smartcode_project:default project_id=150499 project_image_fid=370899]

Skymark has an established track record in the Sutherland Shire, with a portfolio spanning Cronulla, Woolooware and Burraneer that includes Isla, Sylva, Bask, Shells, Sula and Mist. Securing LDI on Solis reflects a broader shift in how the developer is positioning its buildings to buyers, at a time when Resilience Insurance expects the policy to become mandatory in New South Wales by 2028.

Sales at Solis are launching soon through Ray White Projects, with an official event scheduled for 11 June. Enquire for more information.

[smartcode_project_cta:default project_id=150499]

Joel Robinson

Skymark takes out 10-year Resilience Insurance LDI at Solis Cronulla

Investors may soon find themselves with fewer reasons to buy established property and more incentives to look towards the new apartment market.

Proposed changes to negative gearing and capital gains tax concessions would see new and off-the-plan apartments retain access to the tax benefits, while established properties would miss out, creating a clear advantage for buyers purchasing newly built housing.

The policy direction aligns with what many developers have been saying for several years. Australia needs more housing supply, and governments are increasingly looking for ways to encourage investment into new stock rather than existing homes.

The challenge for investors is that suitable product is becoming harder to find.

For much of the last decade, one-bedroom apartments were the cornerstone of investor demand. They offered a lower entry price, strong rental appeal, and were a common feature across most apartment developments.

Today, the development pipeline looks very different.

Across both New South Wales and South East Queensland, developers are increasingly targeting owner-occupiers and downsizers, delivering larger two, three and four-bedroom apartments in response to changing buyer preferences. While one-bedroom apartments still exist, they now form a much smaller portion of many new projects.

That shift has created a shortage of investor-friendly stock, particularly in well-located projects close to transport, employment hubs and lifestyle amenity.

At the same time, rising apartment prices have pushed many new developments beyond the reach of traditional investors. On the Gold Coast and across South East Queensland, it's becoming increasingly difficult to find new apartments priced around the $1 million mark, particularly those offering strong rental fundamentals and long-term growth prospects.

We've rounded up four new apartment developments where investors can still secure a foothold in the market for around $1 million or less.

<h2 data-end="1140" data-start="844">Flourish Soleira</h2>

<h2>Priced from: $1.07 million</h2>

Popular Palm Beach developer Sherpa is soon to officially launch its newest local apartment development, Flourish Soleira.

The one-bedroom apartments in the building were only offered to first home buyers rather than investors, and all of those have been snapped up. The two-bedroom apartments will start from $1.07 million, and the three-bedrooms, still a good investment given the popularity of Palm Beach for owner-occupiers, starting at $2,045,000.

&nbsp;

[smartcode_project:default project_id=150017 project_image_fid=370964]

Flourish Soliera will comprise 153 apartments across two buildings, connected by a skybridge, the first ever delivered in the suburb.

True to Sherpa's booming Flourish brand of apartment projects, Flourish Soleira will have extensive rooftop amenity across both buildings including a&nbsp;wellness centre with gym, work from home, yoga, pilates, a&nbsp;heated pool, private dining rooms, pizza oven and barbecues, basketball court, and golf simulator.

<h2>Corallo, Palm Beach</h2>

Priced from: $841,500

Nearby Flourish Soleira is Changfa Group's beachfront-inspired Corallo development. They still have some one-bedroom apartments remaining, priced from $841,500.

The 105-apartment project on Palm Beach Avenue is otherwise dominated by larger two and three-bedroom residences, many of which are aimed at owner-occupiers and downsizers.

[smartcode_project:default project_id=112194 project_image_fid=808]

For investors, the appeal lies in Palm Beach's continued transformation from a laid-back beachside suburb into one of the Gold Coast's most sought-after residential markets. Residents at Corallo will be within walking distance of Palm Beach's surf beaches, the recreational amenity of Tallebudgera Creek, and the increasingly popular collection of cafes, restaurants and boutique retailers along the suburb's central dining precinct.

<h2>Corner House, Stones Corner</h2>

<h2>Priced from: $880,000</h2>

One of only two Brisbane apartment developments to make the list with prices under $1 million is DeMartini Fletcher's Corner House development in Stones Corner.

One-bedroom apartments start from $880,000 within the 88-apartment development, providing investors with exposure to one of Brisbane's most established inner-south locations.

[smartcode_project:default project_id=149098 project_image_fid=330594]

Stones Corner has long been supported by strong tenant demand due to its proximity to major employment and education destinations. The suburb sits less than five kilometres from Brisbane's CBD and is within easy reach of the Princess Alexandra Hospital, Greenslopes Private Hospital, Queensland Children's Hospital and several university campuses.

The project's location within a walkable urban village environment, surrounded by retail, dining and public transport infrastructure, continues to attract both professionals and healthcare workers seeking accommodation close to work.

Parkdrive Apartments, Chermside

Priced from: $749,000

The most affordable apartments across Brisbane's new and off the plan market are in Chermside where developer AusDev is selling one-bedroom apartments from $749,000, and two-beds from $929,000, at its recently launched Parkdrive development.

The development is strategically positioned in one of Brisbane's largest employment and retail precincts, placing residents within easy walking distance of Westfield Chermside, The Prince Charles Hospital, St Vincent's Private Hospital Northside and the suburb's major bus interchange.

[smartcode_project:default project_id=152125 project_image_fid=363782]

Already under construction and scheduled for completion in early 2028, Parkdrive benefits from Chermside's ongoing evolution into Brisbane's northern metropolitan centre. The suburb continues to attract significant public and private investment, supporting population growth and underpinning long-term rental demand.

For investors focused on yield and tenant depth, the combination of healthcare, retail and transport infrastructure within close proximity provides a strong foundation for occupancy and rental performance.

Investors to turn to new apartments after Federal Government changes spark hunt for Queensland's best $1 million apartments

A mix of Gold Coast locals, fly-in, fly-out purchasers from Sydney and Melbourne, and Brisbane-based families has driven early sales success at Broadbeach's newest apartment tower, Lumara.

The 26-level project, a joint venture between builder-developer 5Point Projects and Bourke Projects, comprises just 37 luxury residences and is attracting a buyer profile that is looking for exclusivity, above the most amenity-rich suburb on the Gold Coast.

[smartcode_project:default project_id=150454 project_image_fid=364156]

Jamie Bourke, Director of Bourke Projects, says every buyer secured so far intends to use Lumara as a lock-up-and-leave residence, combining holiday use with the ability to work remotely when required.

“The size of the apartments, both half- and full-floor options, and the different zones within the floorplans, lends itself perfectly to dedicated home office setups and multi-generational family holidays,” Bourke says.

That flexibility has become a key drawcard for affluent buyers seeking a second residence on the Gold Coast without sacrificing the ability to conduct business away from their primary home base.

The absence of holiday letting within the building has also resonated strongly with purchasers.

“This type of buyer doesn't need to generate holiday rental income,” Bourke says. “They're paying for exclusivity, privacy and certainty around who their neighbours are.”

[smartcode_project:default project_id=150454 project_image_fid=366491]

The strong demand comes amid broader shifts in the high-end apartment market following the Federal Budget announcements in May.

“We were already seeing strong enquiry from high-net-worth buyers, but that has only accelerated since the policy changes,” Bourke says.

“A lot of those buyers are looking to place more capital into premium lifestyle assets rather than investment-grade stock that has been targeted by the Federal Government.”

[smartcode_project:default project_id=150454 project_image_fid=366486]

Designed by Cottee Parker, Lumara adopts a slender, sculpted form with an emphasis on natural materials suited to its beachfront setting. The architectural approach draws on coastal influences, with a palette of stone, timber and concrete selected for durability and the ability to weather over time.

Apartments are limited to three and four-bedroom configurations, with a maximum of two residences per floor through the mid-levels and a selection of full-floor and dual-level homes in the upper levels. All apartments are oriented to the north to maximise natural light, cross-ventilation and views across the ocean, city skyline and hinterland.

A two-level amenity offering is positioned high within the building on levels 20 and 21, conceived as a sky wellness retreat. Facilities include a magnesium pool, spa, sauna and steam rooms, alongside more social spaces such as a private dining room, resident lounge, workspaces and outdoor barbecue areas integrated with landscaped greenery.

The uppermost levels are reserved for larger-format residences, including several full-floor homes and a dual-level penthouse with its own private wellness features and recreational spaces.

&nbsp;

To give buyers confidence, 5Point and Bourke commenced construction ahead of the apartments launching to the market, a sure-fire way to prove they mean business, and the building will be delivered. They are targeting a 2028 completion date.

[smartcode_project_cta:default project_id=150454]

Locals, interstate holiday makers, drive early sales at Lumara, Broadbeach's newest luxury apartment tower

Often when it comes to purchasing property, the biggest barrier to entry is the deposit. Buyers of established homes typically aim for a 20 per cent deposit to avoid the added cost of Lenders Mortgage Insurance, while most property transactions require around a 10 per cent deposit when contracts are exchanged.

The off-the-plan market works differently, with buyers typically paying a deposit during construction and settling the balance upon completion. As completion approaches at <a href="https://www.apartments.com.au/new-apartments/fabbrica-fitzroy-369-gore-street-fitzroy-vic-3065">Fabbrica Fitzroy</a>, developer <a href="https://www.apartments.com.au/developers/pace-development-group">Pace</a> is making it easier for buyers to secure a residence through a deposit-matching incentive. Purchasers need only contribute a five per cent deposit*, with Pace matching the remaining five per cent.

The offer comes as Pace unveils a completed display apartment and townhouse, now available for inspection by appointment ahead of the project's Spring completion.

[smartcode_project:default project_id=139552 project_image_fid=371009]

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/winwood-mckenzie-architecture">Winwood Mckenzie</a> and landscaping by <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a>, Fabbrica draws on Fitzroy’s industrial and manufacturing history, incorporating references to the former Argyle Shirt Factory and Life Savers Confectionery Company that once occupied the site.

The development comprises 85 residences, spanning low-maintenance apartments through to larger-format townhouses with private street access and double lock-up garages, a relatively uncommon offering in Fitzroy’s higher-density apartment market.

Pace says the project has been designed to appeal to buyers seeking inner-city convenience without sacrificing space, flexibility, or amenity.

[smartcode_project:default project_id=139552 project_image_fid=371016]

Inside the residences, Winwood Mckenzie has focused on adaptable layouts and integrated detailing, with features including custom joinery, and concealed storage solutions. The material palette leans into warm, tactile finishes intended to complement the building’s industrial architectural language.

Fabbrica’s rooftop amenity is a key part of the project offering. Spanning around 800 sqm, the communal rooftop includes a private dining room, communal kitchen, lounge spaces, work-from-home zones, and outdoor dining areas overlooking the Melbourne CBD skyline.

[smartcode_project:default project_id=139552 project_image_fid=371017]

Landscape architecture studio Acre has introduced a layered rooftop garden designed to soften the urban setting while creating a more communal environment for residents.

The Fitzroy location also positions residents within walking distance of Brunswick Street, Smith Street, parks, cafés, galleries, and public transport, while remaining only minutes from Melbourne’s CBD. The project has an enviable Walk Score of 96.

[smartcode_project:default project_id=139552 project_image_fid=371025]

Pace, which is also delivering the project as builder, has developed more than 100 projects across Melbourne over the past three decades. The vertically integrated approach has become increasingly common among developers seeking greater control over construction delivery amid broader market pressures affecting the apartment sector.

The strikingly contemporary Gore Street development is now around 70 per cent complete, with purchasers expected to move into their new homes in Spring 2026. A limited number of residences remain available under the current deposit match offer.

*Conditions apply in relation to the deposit match offer.

[smartcode_project_cta:default project_id=139552]

Pace offers five per cent deposit match at Fabbrica Fitzroy ahead of Spring completion

Sydney developer Hyecorp's roots on the Lower North Shore stretch back three generations, and that deep understanding of the market continues to shape where and how it develops today.

From high-rise towers to boutique apartment projects, the family-run developer has built its reputation by focusing on a part of Sydney it knows intimately. Founded by Michael Abolakian in the early 1990s, Hyecorp is now led by his sons Stephen, Troy and Patrick.

Stephen Abolakian, joint managing director alongside Troy, has spent more than two decades in the business, overseeing development, planning, finance, marketing and sales.

Abolakian says the developer's disciplined focus on where it chooses to operate has been, and continues to be, one of Hyecorp's greatest strengths.

“We know the buyer profile exceptionally well,” Abolakian says.

“The demographics between places like Willoughby, Chatswood, St Leonards and Roseville are very similar. There are nuances between suburbs and projects, but culturally and from a buyer perspective, there’s a strong overlap.”

That buyer has historically been overwhelmingly owner-occupier driven.

Unlike many Sydney apartment developers that have traditionally relied heavily on investor demand, Hyecorp’s projects have typically attracted downsizers, upsizers, rightsizers and family owner-occupiers seeking long-term homes rather than short-term investments.

“Historically, investors have been a much smaller portion of our demand profile,” Abolakian says.

“We design for owner-occupiers. We don’t design for yield, we design for comfort, amenity, family living and long-term usability.”

That philosophy extends well beyond apartment layouts.

From landscaping and communal gardens to shared amenities and circulation spaces, Hyecorp’s developments are designed around how people actually live, something Abolakian believes has become increasingly important in Sydney’s apartment market.

“There was probably a period where having an approved project in market was enough,” he says.

“There wasn’t as much competition and if you built it, buyers would come. That’s no longer the case.”

“There’s more supply in the pipeline now, particularly with TOD precincts and low and mid-rise reforms opening up opportunities across Sydney. Buyers have more choice, so if you get the product wrong, they’ll simply go elsewhere.”

[smartcode_project:default project_id=110379 project_image_fid=311393]

The shift has forced developers to become more sophisticated in how they approach apartment design, particularly as owner-occupier expectations continue to rise.

For Hyecorp, that means thinking beyond who the buyer is today and designing for who they may become in five or 10 years' time.

“People buying now often aren’t moving in for several years,” Abolakian says.

“You might have a young couple buying today, but by the time they move in they may have children, older children, or changing lifestyle needs. You’ve got to think about how families evolve.”

That thinking also shapes Hyecorp’s approach to amenity, which positions wellness at the forefront.

[smartcode_project:default project_id=149594 project_image_fid=362634]

While resort-style facilities have become increasingly common marketing tools across Sydney apartment developments, Abolakian says the challenge is ensuring amenities are genuinely usable and appropriate for the scale of the project.

“If amenities are done right, they can materially improve the living experience,” he says, adding however that if you&nbsp;overdo it or get it wrong, you can end up with facilities nobody uses that simply create ongoing strata costs.”

That balance is something Hyecorp is aiming to strike with projects like Roseville Avenue, one of the group's upcoming Lower North Shore developments, which Abolakian describes as bringing a resort-style living experience into a metropolitan setting.

“It’s about creating something that feels special without being excessive,” he says.

“Good gardens, quality apartments, thoughtful amenity. Creating that resort feeling in a metro location.”

<img alt="Hyecorp" data-entity-type="file" data-entity-uuid="13c4c0f3-b1b7-44cf-9344-0b3d1d07797a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-02%20at%2012.14.57%E2%80%AFPM.png?VersionId=9OLWjyj2bYkDV35F78WJnyMSPfc2bJ2z" />

The focus on owner-occupier product comes as Sydney’s apartment market continues to navigate a difficult development environment.&nbsp;For Hyecorp, maintaining an in-house operating model across construction, sales, marketing and development management has become increasingly important in navigating that environment.

“We’ve always believed in keeping a lot of the process in-house,” Abolakian says.

“It creates efficiencies, but it also creates quality control. You can make faster decisions and ensure the end product stays aligned with the original vision.”

Despite the challenges, Abolakian believes demand for quality owner-occupier apartments across Sydney remains strong beneath the surface, particularly across established Lower North Shore suburbs where downsizers continue to seek new housing options close to existing communities.

“There are definitely people waiting,” he says.

“Once some of the broader uncertainty settles, whether that’s the global environment or some of the local economic noise, I think the right projects will perform very strongly.”

Hyecorp currently has three residential developments on the market across Sydney’s Lower North Shore.&nbsp;Audrey, St Leonards, positioned opposite Newlands Park, is nearing completion and preparing to welcome its first residents, with the project now almost sold out.

Hyecorp has also recently launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine Chatswood</a>, an architectural tower, while continuing to deliver&nbsp;<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet Roseville</a>, a more boutique scale of development with just 34 apartments.

Why Hyecorp continues to back Sydney's Lower North Shore apartment market

Collins Street

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Hub Australia this week launched the second of its Melbourne coworking spaces within the historic Georges Building. Located at 162 Collins Street, the new space joins Hub Australia's Melbourne flagship, Hub Southern Cross which occupies part of the 1917 Mail Exchange opposite Southern Cross Station. Together these two spaces account for half of Hub Australia's national footprint of 20,000 sqm.

The Georges Building was once home to the prestigious Georges Department Store from 1889 before ceasing trade in 1995, and continues Hub Australia’s focus of transforming iconic buildings into premium coworking spaces. Hub Australia intends the coworking space will create opportunities for growing businesses to base themselves on Collins Street, but without the cost associated with a Collins Street address.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/hub_collins_street_exterior_streetscape.jpg" rel="gallery-all" title="Hub Collins Street is located in the iconic George’s Building at the stunning ‘Paris end’ of Collins Street. Image: Hub Australia"><img alt="" class="image-article-full-width-580px" height="245" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/hub_collins_street_exterior_streetscape.jpg?itok=dSE9C5w6" title="Hub Collins Street is located in the iconic George’s Building at the stunning ‘Paris end’ of Collins Street. Image: Hub Australia" width="580"></a>

<figcaption>Hub Collins Street is located in the iconic George’s Building at the stunning ‘Paris end’ of Collins Street. Image: Hub Australia</figcaption></figure><blockquote>
The Georges Building is primely located in the heart of the Paris end of Collins Street and we’re excited to see it transformed from its retail roots into a thriving business community, driving innovation and connection in the Collins Street precinct. The premium coworking offering we’ve created is unrivalled in the area and we’ve seen keen uptake from tech, services and creative businesses that recognise the benefits of being a Hub member, such as increased networks, staff retention and ultimately business growth.

The Hub Collins Street space is rich in history and character, and throughout the refurbishment we retained and celebrated the unique fabric and art deco features of the building. This combined with state-of-the art amenity such as a 50 seat café, boardroom and strategy room with views over bustling Collins Street, a fully operational member kitchen, fitness, relaxation and media rooms, cultivates an exceptional coworking offering.

-  Brad Krauskopf, Hub Australia CEO and Founder
</blockquote>

Hub Collins Street has a variety of workspaces to cater for up to 600 members including bespoke offices, private offices and open plan dedicated and flexible desks. Targeting the growing corporate market or project teams, a bespoke office on level two overlooking Little Collins has 40 desks, including two internal offices. There are also additional offices ranging suitable for two to twenty-four people configurations.

The Hub Collins Street provides a further nine bespoke suites to ‘Georges Lane’, the original retail arcade located on the mezzanine level which has been transformed into a laneway linking Collins Street and Little Collins Street. These fully secure and furnished suites are suitable for teams of 12 – 18 people supported by internal meeting rooms or offices, and come complete with their own dedicated reception area with signage that draws on the building’s retail history.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/hub_collins_st_cafe1.jpg" rel="gallery-all" title="The restored interiors celebrate the heritage fabric of the Georges Building. Image: Hub Australia"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/hub_collins_st_cafe1.jpg?itok=CnGfz92Y" title="The restored interiors celebrate the heritage fabric of the Georges Building. Image: Hub Australia" width="580"></a>

<figcaption>The restored interiors celebrate the heritage fabric of the Georges Building. Image: Hub Australia</figcaption></figure>The building's restored interior maintains the iconic atrium on level three that provides ambient natural light and celebrate the feature trusses and columns. Heritage features such as previously blocked off fireplaces, original scaffolding and lift level indicators have been restored as part of the refurbishment.  Art deco retail counters and display cabinets discovered from during the building's retail past have also been restored and incorporated throughout the new fit out.

Additional amenity in the coworking space includes serviced meeting spaces and a state-of-the-art boardroom, parents’ facilities, soundproof phone booths, gym, premium end-of-trip facilities with complimentary towel service, generously sized lockers and bike storage facilities.

Hub Australia will be opening its third Melbourne-based coworking space - Hub Parliament Station - at the top of ICI House, in May 2019.
</body></html>

Laurence Dragomir

Hub Australia launches 2nd Melbourne coworking space on Collins Street

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Having already covered Spencer Street and Chapel Street, Apartments.com.au today focuses on the construction occurring along what is arguably Melbourne CBD's premier street - Collins Street - and its future development pipeline.

Stretching approximately 3km from Spring Street to Docklands, Collins Street currently has nine projects either approved or under construction, with the greatest concentration located towards the western end of the CBD at the threshold between the Hoddle Grid and Docklands.

These projects are illustrated in the diagram below, with each covered in more detail below.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/collins_street_progress.png" rel="gallery-all" title="Highlighting development along Melbourne's Collins Street. "><img alt="" class="image-article-full-width-580px" height="252" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/collins_street_progress.png?itok=HN-NORoe" title="Highlighting development along Melbourne's Collins Street. " width="580"></a>

<figcaption>Highlighting development along Melbourne's Collins Street.</figcaption></figure><h2><a href="/developments/docklands-vic-3008">839 Collins Street</a></h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/839-3.jpg" rel="gallery-all" title="839 Collins Street. Render: Lendlease "><img alt="" class="image-article-full-width-580px" height="337" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/839-3.jpg?itok=lgxebI_v" title="839 Collins Street. Render: Lendlease " width="580"></a>

<figcaption>839 Collins Street. Render: Lendlease</figcaption></figure>The new 21-storey building for ANZ has topped out for some time with facade installation progressing externally and interior fit-out works having commenced. 

Designed by Denton Corker Marshall, 839 Collins Street represents the final commercial building to be constructed within Lendlease's Victoria Harbour development. 

The developer's focus now shifts to the Collins Wharf sub-precinct, extending along the length of the peninsula towards the Bolte Bridge.

<h2><a href="/developments/docklands-vic-3008">Two Melbourne Quarter - 697 Collins Street</a></h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/2mq_sep18.jpg" rel="gallery-all" title="Two Melbourne Quarter. Render: Lendlease"><img alt="" class="image-article-full-width-580px" height="357" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/2mq_sep18.jpg?itok=5RV0pKzc" title="Two Melbourne Quarter. Render: Lendlease" width="580"></a>

<figcaption>Two Melbourne Quarter. Render: Lendlease</figcaption></figure>With the finishing touches being applied to One Melbourne Quarter, Lendlease has now turned its focus towards Two Melbourne Quarter. Construction has commenced on the next 25-storey office tower designed by Woods Bagot.

Energy Australia will occupy 12-storeys within the tower, accounting for 22,000 sqm of the 50,000 sqm NLA office space. Completion is expected during 2020.

<h2>Melbourne Quarter Tower - 681 Collins Street</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/melbourne_quarter_tower_question_mark.jpg" rel="gallery-all" title="Melbourne Quarter Tower is due for a redesign. "><img alt="" class="image-article-full-width-580px" height="386" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/melbourne_quarter_tower_question_mark.jpg?itok=C2oI2Lh-" title="Melbourne Quarter Tower is due for a redesign. " width="580"></a>

<figcaption>Melbourne Quarter Tower is due for a redesign.</figcaption></figure>Following planning approval, speculation is rife that Melbourne Quarter Tower is currently undergoing redesign, with a new architect inheriting design responsibilities for Melbourne Quarter's tallest office building.

The current permit allows for the construction of a 28-storey office tower of 55,000 sqm NLA.

<h2><a href="/buildings/582-606-collins-street-melbourne">The Residences at Mandarin Oriental Melbourne - 600 Collins Street</a></h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/zha_mandarin_oriental.jpg" rel="gallery-all" title="Landream's 54-storey tower will include a 194-key hotel, operated by Mandarin Oriental. Images: Zaha Hadid Architects"><img alt="" class="image-article-full-width-580px" height="252" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/zha_mandarin_oriental.jpg?itok=zMEOKUkW" title="Landream's 54-storey tower will include a 194-key hotel, operated by Mandarin Oriental. Images: Zaha Hadid Architects" width="580"></a>

<figcaption>Landream's 54-storey tower will include a 194-key hotel, operated by Mandarin Oriental. Images: Zaha Hadid Architects</figcaption></figure>Owners Landream last year announced that they had signed on Mandarin Oriental to operate the hotel component of their $852 mullion development designed by Zaha Hadid Architects in partnership with Plus Architecture.

Mandarin Oriental will occupy levels 6 to 24 which exuates to 196 guest suites. Though no firm start date has been confirmed although a tentative completion date of 2023 has been previously floated.

Landream secured the site for $60m in 2015 from the Henkell Brothers.

<h2><a href="/developments/melbourne-vic-3000">555 Collins Street</a></h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/555-collins-street_article.jpg" rel="gallery-all" title="Fragrance Group's 555 Collins Street is set for a start with demolition not far off. Images: Bates Smart"><img alt="" class="image-article-full-width-580px" height="272" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/555-collins-street_article.jpg?itok=8d3z4gLi" title="Fragrance Group's 555 Collins Street is set for a start with demolition not far off. Images: Bates Smart" width="580"></a>

<figcaption>Fragrance Group's 555 Collins Street is set for a start with demolition not far off. Images: Bates Smart</figcaption></figure>The current Enterprise House on site has a date with the wrecking ball, with demolition expected to get underway this month to allow for the construction of Fragrance Group's 47-storey tower.

Designed by Bates Smart, the pleated building rises from a truncated base which allows for the provision of a pedestrian plaza and improved pedestrian circulation through the site and around to King Street. 

<h2><a href="/developments/melbourne-vic-3000">Olderfleet - 477 Collins Street</a></h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/olderfleet_sep18.jpg" rel="gallery-all" title="477 Collins Street aka Olderfleet. Render: Mirvac"><img alt="" class="image-article-full-width-580px" height="413" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/olderfleet_sep18.jpg?itok=Vo4NjraU" title="477 Collins Street aka Olderfleet. Render: Mirvac" width="580"></a>

<figcaption>477 Collins Street aka Olderfleet. Render: Mirvac</figcaption></figure>Mirvac recently announced that it had signed global law firm Norton Rose Fulbright, who will join anchor tenant Deloitte in the Grimshaw-designed tower currently under construction. 

Norton Rose Fulbright will occupy the top floors, committing to 5,100 sqm on levels 35 to 38.

Upon completion Olderfleet will be provide 38 storeys of Premium Grade office space. The project will also include the restoration of the historic Olderfleet Buildings which will link to the new tower via an expansive 30 metre high atrium.

<h2><a href="/buildings/collins-house-melbourne-460-466-collins-street-melbourne">Collins House - 466 Collins Street</a></h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/collins_house_aug18.jpg" rel="gallery-all" title="Collins House appearing perpetually complete. Images: Golden Age | Urban.com.au member redden"><img alt="" class="image-article-full-width-580px" height="276" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/collins_house_aug18.jpg?itok=IBEJYzdR" title="Collins House appearing perpetually complete. Images: Golden Age | Urban.com.au member redden" width="580"></a>

<figcaption>Collins House appearing perpetually complete. Images: Golden Age | Apartments.com.au member redden</figcaption></figure>Golden Age and Asia Pacific Group's Collins House is quickly rising however you could be forgiven for thinking it was completed, such is the manner of construction. Set to become the slimmest tower in Australia with 271 apartments across 60 storeys, the Bates Smart-designed building cantilevers 4.5m over the neighbouring building.

In dealing with such a constrained site, builder Hickory employed conventional formwork up to level 14, with the remainder of the tower being constructed with prefabricated modules. By utilising its HBS construction method, Hickory are able to service the project via a single tower crane, with major elements fabricated off-site and then assembled on-site.

This has resulted in a 30% reduction in the overall construction programme expected to last 29 months, with completion in September 2019.

<h2><a href="/buildings/collins-arch-447-collins-street-melbourne">Collins Arch - 447 Collins Street</a></h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/collins_arch_rcp_aus.jpg" rel="gallery-all" title="Progress at Collins Arch is picking up. Images: Cbus Property | RCP Australia"><img alt="" class="image-article-full-width-580px" height="370" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/collins_arch_rcp_aus.jpg?itok=LIDPj54O" title="Progress at Collins Arch is picking up. Images: Cbus Property | RCP Australia" width="580"></a>

<figcaption>Progress at Collins Arch is picking up. Images: Cbus Property | RCP Australia</figcaption></figure>As reported on <a href="/news/all-good-and-well-for-447-collins-street">Urban.com.au last week</a>, the commercial component of Collins Arch recently received a platinum level WELL Precertification. 

The twin-tower development which is linked via a tapered skybridge will ultimately deliver 50,000 sqm of premium grade office space, a W Hotel-branded 5-star hotel with 294 rooms, 1,000 sqm of high end retail and 185 apartments.

2,000 sqm of public open space will also be delivered as a part of the development via partial closure of Market Street, upon completion in 2020.

<h2><a href="/developments/melbourne-vic-3000">80 Collins Street</a></h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/80_collins_rcp_aus.jpg" rel="gallery-all" title="The first of 80 Collins Street's glazing has been installed. Images: Scharp | RCP Australia"><img alt="" class="image-article-full-width-580px" height="388" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/80_collins_rcp_aus.jpg?itok=X4r-DR-J" title="The first of 80 Collins Street's glazing has been installed. Images: Scharp | RCP Australia" width="580"></a>

<figcaption>The first of 80 Collins Street's glazing has been installed. Images: Scharp | RCP Australia</figcaption></figure>QIC Golbal Real Estate's office development at 80 Collins Street is flying up, with Multiplex at the helm of the steel framed structure. With the 12 metre cantilever now complete the first signs of glazing have begun to emerge on the third Woods Bagot design on the list.

The project includes extensive retail to Collins and Exhibition Streets, with a NEXT branded hotel designed by UN Studio located on Little Collins Street due for completion late next year.

80 Collins Street will also include an Australian-first with double-decker lifts servicing the 39 storey office tower.

<h2>60 Collins Street</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/60_collins.jpg" rel="gallery-all" title="Watch this space... 60 Collins Street. Image: realcommercial"><img alt="" class="image-article-full-width-580px" height="591" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/60_collins.jpg?itok=Kw5LhziQ" title="Watch this space... 60 Collins Street. Image: realcommercial" width="580"></a>

<figcaption>Watch this space... 60 Collins Street. Image: realcommercial</figcaption></figure>Not a construction project as such but one to keep an eye out for according to sources within the industry. The Reserve Bank of Australia are looking to sell the 15 storey building on the corner of Collins and Exhibition Streets after vacating it.

60 Collins Street will form the basis of its own article in a similar vein to this study on <a href="/news/development-scenario-140-150-queen-street-redux">140-150 Queen Street</a>.
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Melbourne's Collins Street continues to soar as construction heats up

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Urban.com.au has <a href="/news/collins-street-west-set-for-significant-change">previously highlighted</a> the significant transformation that is currently underway along the western reaches of Collin Street with three projects currently under construction and a number of others due to begin in the next few years.

The three projects in question - Collins Arch, Collins House and <a href="/developments/melbourne-vic-3000">Olderfleet </a>- have all recently had cranes erected following months of demolition and early site works, allowing these three skyline changing projects to begin rising out of the ground.

Together these three projects will also deliver 3,500 sqm of public realm, almost 100,000 sqm of office space, 294 hotel suites and 469 apartments between them over the next 3 years.

Below is a snapshot of the current state of play on each of these projects.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/half1.jpg" rel="gallery-all" title="Olderfleet (Mirvac), Collins House (Golden Age), Collins Arch (Cbus Property)"><img alt="" class="image-article-full-width-580px" height="230" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/half1.jpg?itok=ESC3ZIid" title="Olderfleet (Mirvac), Collins House (Golden Age), Collins Arch (Cbus Property)" width="580"></a>

<figcaption>Olderfleet (Mirvac), Collins House (Golden Age), Collins Arch (Cbus Property)</figcaption></figure><h2>Collins Arch</h2>

The dual tower development affectionately referred to as 'the pantscraper' has the beginnings of its cores visible with the jump form no too far off.

The development has some way to go before it reaches Collins Street but with Multiplex at the helm its core should begin poking out above the street in the next few months, with the basement levels to follow. Its unique form will most likely appear on the skyline from mid next year.

Upon completion, the 41-storey Collins Arch will feature 294 hotel rooms, 43,000sqm of office space, 202 apartments and a 1,500 sqm park which will add much needed green space into the heart of the city. The Woods Bagot &amp; SHoP designed project will rise to a height of 143m.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/collins_arch_1.jpg" rel="gallery-all" title="Collins Arch construction progress. Images: (L-R) redden, Zekebe"><img alt="" class="image-article-full-width-580px" height="274" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/collins_arch_1.jpg?itok=-OJco8gv" title="Collins Arch construction progress. Images: (L-R) redden, Zekebe" width="580"></a>

<figcaption>Collins Arch construction progress. Images: (L-R) redden, Zekebe</figcaption></figure><h2>Collins House</h2>

Golden Age's 204m <a href="/buildings/collins-house-melbourne-460-466-collins-street-melbourne">Collins House project</a> will be Australia's thinnest tower and as the below photos illustrate this is not without its challenges as the site's narrow footprint, constraints of neighbouring buildings and a single point of access created issues with the amount of room available to manoeuvre the various pieces of plant required for the ground works.

Despite this construction of the Bates Smart-designed residential tower is expected to pick up with builder Hickory employing its HBS construction method, with the site serviced by a single tower crane and major elements including façade and precast fabricated off-site and rapidly assembled on arrival to Collins Street.

Prefabricated Hickory structural units will be used from level 14 onwards, following the completion of conventional formwork construction. As a result of these construction techniques, the construction programme will be reduced by up to 30%.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/p8290453.jpg" rel="gallery-all" title="Collins House construction progress. Images: redden"><img alt="" class="image-article-full-width-580px" height="215" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/p8290453.jpg?itok=GepRXhcM" title="Collins House construction progress. Images: redden" width="580"></a>

<figcaption>Collins House construction progress. Images: redden</figcaption></figure><h2>Olderfleet</h2>

Construction of Mirvac's Olderfleet project is in full swing with a targeted completion date of July 2020, when anchor tenant Deloitte will relocate into their Grimshaw-designed digs. In addition to the erection of the first crane behind the Olderlfleet buildings a gantry has also been installed to Collins Street.

The remnants of the 80's office building's western core is visible as the structure provides temporary structural support to the Olderfleet buildings. It will eventually be removed once the new structural elements are built. 

The now exposed rear of the Olderfleet buildings will once again disappear from view as the floor plates rise and obscure the view from the street. The southern facade will be cleaned and restored providing a unique backdrop to the projects lobby and 30m high atrium.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/p8270421.jpg" rel="gallery-all" title="Olderfleet construction progress. Images: redden"><img alt="" class="image-article-full-width-580px" height="213" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/p8270421.jpg?itok=oMRx87g-" title="Olderfleet construction progress. Images: redden" width="580"></a>

<figcaption>Olderfleet construction progress. Images: redden</figcaption></figure>Lead Image: redden
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Three Collins Street projects begin their skyward ascent

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With preliminary construction works underway, Lendlease have completed the sale of their first offering within the multi-towered Melbourne Quarter development.

Announced yesterday was the sale of the precinct's first commercial tower to Lendlease-managed affiliate, Australian Prime Property Fund Commercial. The transaction comes at a point of near full tenancy for the commercial tower dubbed One Melbourne Quarter.

Upon completion, initial signatory Arup will also be joined by Lendlease within the 13 level commercial tower, with the latter absorbing four floors across the Denton Corker Marshall-designed, 26,400sqm complex.

Updated project renders accompanying yesterday's announcement also better highlight the tower's activated frontage to Collins Street, perhaps the project's single biggest positive.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/img_0471.jpg" rel="gallery-all" title="Melbourne Quarter's onsite works gather momentum"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/img_0471.jpg?itok=Y3WtWWqx" title="Melbourne Quarter's onsite works gather momentum" width="580"></a>

<figcaption>Melbourne Quarter's onsite works gather momentum</figcaption></figure><h2>What they say</h2>

<blockquote>
The sale of this building brings the vision of Melbourne Quarter to life and will drive increased momentum for the project. We continue to witness the city shift its commercial centre west along Collins Street, with many leading national and global enterprises already having made the move. It’s a very exciting time for the project.

As we did with our global head office move to Barangaroo in Sydney this year, we will be consolidating our Melbourne offices to bring our Victorian people together at One Melbourne Quarter in 2018.
<cite>Kylie Rampa, Chief Executive Officer for Property, Lendlease</cite>
</blockquote>

<blockquote>
We are delighted to provide our institutional investors access to this exciting integrated precinct, which will offer unique public space, including Melbourne’s first Skypark, and direct access to a variety of transport options.

The investment is consistent with APPF Commercial’s strategy to up-weight into efficient, sustainable and people-centric buildings, and complements the Fund’s recent acquisition of Darling Square and its interests in International Towers One, Two and Three at Barangaroo in Sydney.
<cite>Josh McHutchison, Managing Director of Australian Investment Management, Lendlease</cite>
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/1mq_hero_shot_75_0.jpg" rel="gallery-all" title="A new Collins Street perspective. Image: Lendlease"><img alt="" class="image-article-full-width-580px" height="687" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/1mq_hero_shot_75_0.jpg?itok=WECrAkWk" title="A new Collins Street perspective. Image: Lendlease" width="580"></a>

<figcaption>A new Collins Street perspective. Image: Lendlease</figcaption></figure>As the last vacant site fronting Collins Street within Batman's Hill, One Melbourne Quarter's frontage has been amped up.

Passers-by will be greeted by a cavernous entry to the precinct, defined by a Sky Park perched above Collins Street. 980sqm of retail space will also bolster Batman's Hill's retail offerings, complimenting the neighbouring Collins Square retail zone.

Melbourne Quarter will also include 106 car parking spaces and extensive cycle facilities while targeting a 6 Star Green Star Design and As Built rating plus a 5 star NABERS energy rating.

One Melbourne Quarter is the first of seven commercial and residential buildings destined for Lendlease's Melbourne Quarter. Future offering within Melbourne Quarter include 681 Collins Street which is at planning and encompasses 55,000sqm of commercial space, and multiple approved residential towers with 1,600 plus apartments in the pipeline.

The total value of the precinct weighs in at $2 billion.
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silvermb

Lendlease steps in on One Melbourne Quarter

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Singaporean outfit Fragrance Group has managed to gain approval for a substantial residential tower at 555 Collins Street.

Long after notions of a 400 metre commercial tower and in the wake of Fragrance Group's early ambitions for a 300 metre mixed use monolith onsite, a residential tower holding in excess off 600 apartments has been given the green light by Planning Minister Richard Wynne. This process of approval has taken place in conjunction with the site being offered for sale.

After failing to win approval for their initial scheme, Fragrance Group appointed Knight Frank in the early stages of 2016 as handling agent for what still remains a vacant office tower with prime Collins Street frontage.

Permitted this month, Fragrance Group <a href="http://infopub.sgx.com/FileOpen/Approval%20for%20Planning%20Permit%20for%20555%20Collins%20Street%20Melbourne.ashx?App=Announcement&amp;FileID=421991">released the following statement to the Singapore Stock Exchange</a>, dated September 21st:

<blockquote>
The Board of Directors of Fragrance Group Limited is pleased to announce that the Company’s Australian subsidiary, Fragrance VIC-MEL (Collins) Pty Ltd has obtained a planning permit for the property located at 555 Collins Street, Melbourne, Victoria. The planning permit allows for the Property to be developed into a mixed-use multi-storey building for dwellings and retail premises.

The Property, which is fully owned by Fragrance Collins, has a freehold tenure with a total land area of approximately 2,300 square metres. The Property is currently zoned “Capital City Zone 1”. Strategically located at the intersection of Kings Street and Collins Street, 555 Collins Street is a unique corner site in the bustling Melbourne CBD. The area is a central hub for business and well connected by public transport.

The development which was approved based on a floor area ratio of 1:24, will comprise of retail and restaurant outlets on the ground floor, 625 residential units consisting of 1, 2, 3 bedroom apartments and penthouses with car parks located in the 4 basements. Other than a whole floor dedicated to well-appointed residential amenities like lounges, gymnasium, swimming pool etc., residents will also be able to get to enjoy a variety of food and beverage and retail provisions on the ground floor amidst large recessed plazas and walkway connecting the development to the adjoining buildings.
<cite>Periakaruppan Aravindan, Executive Director, Fragrance Group</cite>
</blockquote>

In comparison the <a href="/news/softly-does-it-555-collins-street-in-detail">initial Bates Smart-designed tower</a> for the site sought approval for 1,020 apartments, 11,280sqm office space and 300 hotel rooms over 91 levels. With a site area of 2,292sqm and a new approved floor area ratio/plot ratio of 1:24, the tower could conceivably reach a height of approximately 160-170 metres while incorporating setbacks of 5m, as was noted within Knight Frank's marketing material for the site.

Considering the aforementioned parameters, a tower of approximately 55,000sqm should be in the offing. For comparison's sake the existing 555 Collins Street office building has approximately 25,000sqm of vacant office space within its dated exterior.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image29_6.jpg" rel="gallery-all" title="An early Bates Smart design for 555 Collins Street"><img alt="" class="image-article-full-width-580px" height="705" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image29_6.jpg?itok=ewne-Y_v" title="An early Bates Smart design for 555 Collins Street" width="580"></a>

<figcaption>An early Bates Smart design for 555 Collins Street</figcaption></figure>Both the final design and Fragrance Group's intentions for the vacant 555 Collins Street have yet to be made public. With approval in place and the site's sales campaign yet to make any headway, it could be that Fragrance Group will choose to retain the asset in order to push through the freshly approved apartment scheme.

Not far away Fragrance Group are preparing to oversee the construction of Premier Tower on the Savoy site at 134 Spencer Street. Word has it the venue will close on November 25th in order to facilitate construction of the 249 metre tower, with Brookfield reportedly appointed as builder.

Lead image: Knight Frank
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Fragrance Group secures approval for the seemingly defunct 555 Collins Street

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Submitted to town planning last year Lend Lease's new 29-storey, $106 million residential development will comprise 321 apartments, 290 car parks, 312 bike spaces and 68 square metres of ground floor retail space.

Designed by Bates Smart, the 90 metre tower was considered by Council's Future Melbourne(Planning) Committee which resolved to support the proposal. With frontages to Collins Street, the proposed Bourke Dock public space and the Yarra, Council have urged Lend Lease to increase the amount of retail space to these key interfaces.

<blockquote>
The predominantly residential building (one ground floor retail tenancy) is contrary to the Development Plan which contemplated human services/mixed use at its interface with Bourke Dock; retail along Collins Street and commercial uses along the Yarra River interface.

The wintergarden on the shorter Collins Street/Buluk Park alignment is inactive. These departures from the use create a solely residential building with portions of inactive frontages to the public realm, rather than a mixed use building.
<cite>Future Committee Report</cite>
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/collins_wharf_location.jpg" rel="gallery-all" title="No.1 Collins Wharf in context. Image courtesy Aspect + Oculus"><img alt="" class="image-article-full-width-580px" height="410" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/collins_wharf_location.jpg?itok=yCu2M_Fz" title="No.1 Collins Wharf in context. Image courtesy Aspect + Oculus" width="580"></a>

<figcaption>No.1 Collins Wharf in context. Image courtesy Aspect + Oculus</figcaption></figure>Located within the Victoria Harbour Precinct at the junction of Bourke and Collins Streets, No.1 Collins Wharf marks the first stage of Wharf Quarter and acts as the gateway to the Collins Wharf precinct of the peninsula. Comprising five residential towers accommodating approximately 1,500 dwellings and a number of parks and boutique offices, Collins Wharf will be built atop a finger wharf extending out into Victoria Harbour and the Yarra River.

After the best part of 15 years at construction, Collins Wharf forms the final stage of Lend Lease's Victoria Harbour Precinct.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/collinswharf.jpg" rel="gallery-all" title="Artist's impression of Collins Wharf. Image courtesy of Collins Wharf Development Plan."><img alt="" class="image-article-full-width-580px" height="326" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/collinswharf.jpg?itok=csmck9ih" title="Artist's impression of Collins Wharf. Image courtesy of Collins Wharf Development Plan." width="580"></a>

<figcaption>Artist's impression of Collins Wharf. Image courtesy of Collins Wharf Development Plan.</figcaption></figure>The 24-storey (72 metre) tower sits atop a 5-storey (18 metre) high podium which contains parking and a wrap of apartments - traditional and SOHO - to key interfaces across all levels. The ground floor accommodates resident lobby and facilities plus a 68m2 retail tenancy.

The large podium is expressed as smaller elements within, reading as a number of taller townhouses rather than a slab of a building. The podium is generally constructed to all site boundaries, with the exception of an approximately four metre setback from the north (Collins Street), increasing to approximately 5.7 metres at level three and 11.3 metres at level four. 

The tower is a tall slender form which has generous setbacks to the north and south and also from the future development site to to the west. It breaks through the podium, interrupting the rhythm of the podium and addressing Bourke Dock while creating a sense of entry into the building. This design move was criticised by Council's urban design team:

<blockquote>
The Collins Street building alignment does not make a positive address on the short Collins Street / Buluk Park alignment by not being built on the boundary and not being orientated to the street and Buluk Park. The tower form meets at the junction of Collins Street and Bourke Dock, resulting in an oblique alignment.

The tower will appear as a side “end” of a tower, not a front “face”, and does not positively address Collins Street and Buluk Park.
</blockquote>

No.1 Collins Wharf is expressed as two slender, sleek rectilinear volumes offset from one another with a strong vertical articulation that is juxtaposed with occasional expression of horizontal terraces and recessed balconies. Each of these volumes also has setbacks, occurring at levels 12 and 16 respectively resulting in a somewhat animated tower form that appears as two volumes in motion both vertically and horizontally with the east facade, creating "a measurable backdrop to the civic space of Buluk Park and announces the start of the Collins Wharf Precinct."

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image20_4.jpg" rel="gallery-all" title="No.1 Collins Wharf hero perspective. Image courtesy Lend Lease"><img alt="" class="image-article-full-width-580px" height="870" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image20_4.jpg?itok=ZWHZY6hg" title="No.1 Collins Wharf hero perspective. Image courtesy Lend Lease" width="580"></a>

<figcaption>No.1 Collins Wharf hero perspective. Image courtesy Lend Lease</figcaption></figure>In addition to No.1 Collins Wharf, a 5.5 metre wide public promenade separated from the southern edge of the building by a 5.7 metre wide passage of water is proposed. To be known as Yarra Walk, the promenade would be a shared zone for cyclists and pedestrians and also provide access for small service vehicles. 

<h2>By the numbers</h2>

<ul>
<li>Total number of dwellings: 321 in townhouse style dwellings, apartments and SOHO’s
	<ul>
<li>One bedroom: 90</li>
		<li>Two bedroom: 201</li>
		<li>Three bedroom: 30</li>
	</ul>
</li>
	<li>Ground level retail: 68m2 Leasable Floor Area</li>
	<li>Overall Building Height: 90.22m / Podium Height: 18.53m</li>
	<li>North (Collins Street): 13.5m / South (Yarra River): 21.5m / West (Dock Lane East): 13.3m / East: varying, increasing as the building height increases</li>
	<li>GFA: 44,119m2</li>
	<li>Car parking spaces: 290 / Motorcycle spaces: 16</li>
	<li>Bicycle spaces: Total 312 / resident bicycles overbonnet: 201 / resident bicycles communal: 85 / visitor bicycles: 26</li>
</ul>
While 1 Collins Wharf is now selling, the entire Collins Wharf development is expected to be completed within 10 years.
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The beginning of the end: No.1 Collins Wharf

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Upholding a long standing political tradition of announcing newsworthy items just prior to extended break periods, news surfaced last Thursday evening of Planning Minister Richard Wynne's decision to reject Cbus Property's proposed skyscraper at 447 Collins Street. This is the second such refusal for the developer on what is a marquee development site.

Referred to as the 'Pantscraper' in Fairfax publications due to the unique shape of the now defunct proposal, Minister Wynne's refusal of the project is one of boldness or foolishness… depending upon one's perspective on the matter of course!

There are valid arguments for both approval and rejection of the building, which if approved would have most definitely given Melbourne's skyline a unique focal point from various angles. The matter has been and continues to be hotly debated on Apartments.com.au's forum, a petition is circulating in the vain attempt to save the design; it's altogether very emotive topic for what is generally a cut and dry sector.

So was Minister Wynne's disapproval a wise decision?

I lean towards no, based upon how vocal Lord Major Robert Doyle has been in the days since the decision was made public. For so long the 'canary down the mine shaft' on all major inner city development proposals, Melbourne City Council are always willing to sing a song of discontent when it came to assessing the worth of any given planning application.

That they were fully behind this particular proposal said enough in itself.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image70_2.jpg" rel="gallery-all" title="Schematics of the rejected proposal"><img alt="" class="image-article-full-width-580px" height="359" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image70_2.jpg?itok=hc8FNVw5" title="Schematics of the rejected proposal" width="580"></a>

<figcaption>Schematics of the rejected proposal</figcaption></figure>Now invariably comes the compromise design that will try to conjure the best possible outcome for all involved. But why should it?

From Cbus Property's perspective the entire exercise has been an expensive one thus far, particularly in terms of securing the site and funding the subsequent onsite demolition which was overseen by Probuild. Any revised development scheme would require that initial outlays be recouped, along with any expected return on investment.

Can this be achieved with the notional parameters now set over the site? 120 metres being the approximate height at which any towers could reach prior to stumbling into overshadowing issues.

Thus far it has been a case of Cbus Property seeking dispensation for height in return for maintaining 2,000sqm of open space fronting Collins Street; an excessively rare chance to provide Melbourne's premier thoroughfare with a new park.

No height dispensation should essentially equal no 2,000sqm park fronting Collins Street; at least that would be my stance if I were in the shoes of Cbus Property - fool me once, fool me twice… or something along those lines.

In order to reap what they expect from the site I wouldn't be surprised if the development takes on a more typical design outcome, say similar to Cbus Property's past development at Grand Central (181 William Street). While it wasn't architecturally stunning it got the job done, and that may just need to do for a revised 447 Collins Street… unfortunately.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image71_2.jpg" rel="gallery-all" title="SHoP Architects' render of 447 Collins Street from a ground level perspective"><img alt="" class="image-article-full-width-580px" height="227" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image71_2.jpg?itok=Bk5v05dQ" title="SHoP Architects' render of 447 Collins Street from a ground level perspective" width="580"></a>

<figcaption>SHoP Architects' render of 447 Collins Street from a ground level perspective</figcaption></figure>So as it stands the 'Pantscraper' looks to be a very rare opportunity to deliver a unique built form and unique urban realm that will go unfulfilled.

It will be fascinating to see if any compromise can be reached from this point on; no Collins Street park would be an exceptionally poor outcome if it were to go that way. Lord Major Robert Doyle described 447 Collins Street's rejection as a terrible result for the city and I tend to agree.
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No pants and no park: where to now for 447 Collins Street?

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A development application which would see a 54 level mixed-use tower built at <a href="/buildings/568-collins-street-melbourne">582-606 Collins Street</a> has been lodged with the Planning Minister on behalf of proponent <a href="/developers/landream">Landream</a>. The lead architect has been named as <a href="/architects/zaha-hadid-architects">Zaha Hadid</a> working in collaboration with <a href="/developments/st-kilda-vic-3182">St. Kilda Road</a>-based <a href="/architects/plus-architecture">Plus Architecture</a>.

A media release distributed on Monday morning states the proposal is set to include retail, commercial and resident components with a diverse range of apartment typologies and that "the built form seeks to align with the new <a href="/developments/melbourne-vic">CBD</a> planning reforms introduced by Planning Minister Richard Wynne".

The site sits between the recently completed <a href="/buildings/568-collins-street-melbourne">568 Collins Street</a> and Liberty Tower (620 Collins Street) on the Collins and Spencer Street intersection.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/01_aerial_sunrise_cropped.jpg" rel="gallery-all" title="582-606 Collins Street. Render supplied"><img alt="" class="image-article-full-width-580px" height="780" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/01_aerial_sunrise_cropped.jpg?itok=lvEm5fWS" title="582-606 Collins Street. Render supplied" width="580"></a>

<figcaption>582-606 Collins Street. Render supplied</figcaption></figure>The following description of the proposal was included in the media release:

<blockquote>
The <a href="/developments/melbourne-vic-3000">Collins Street</a> façade is comprised of an elegant colonnade of sculptural, curved columns that supports Zaha Hadid Architects’ unique façade system. These solid elements seek to embody and emulate the finest examples of historic architecture that can be found within the Melbourne CBD, yet reinterpret them in a contemporary solution that is driven by the building’s structural integrity and the logical division of its overall volume.

A delicate filigree gently envelops the building, including the Francis Street service areas to ensure there is no sense of “back of house” to the surrounding areas. Designed to use 50 per cent less energy than a conventional mixed-use tower, this filigreed façade contributes to a reduction in the direct solar gain of the building and emissions. High performance glazing system, high efficiency central cooling, high efficiency lighting and grey-water reuse systems are also proposed to reduce consumption of resources and further lower the emissions.

Evolving from the city’s very distinct urban fabric, the arrangement of the proposed tower takes inspiration from its mixed-use program, converting the building’s overall volume into a series of smaller stacked ‘vases’. Central to the concept is the break-down of the vertical volume by the design team to establish a coherent relationship between tower, podium and surrounding streetscapes.

In addition to housing a different programmatic element, each ‘vase’ gently tapers inwards to offer additional open space at its base. Within the proposal there is a significant proportion of the ground plane given over to public realm, with external area dedicated to a plaza accessible 24 hours a day.

The design intent is to open up the ground plane improving the flow of pedestrian traffic and enriching connectivity with existing transport infrastructure, which includes the adjacent Southern Cross railway station and existing tram network that runs parallel to the site.

The design also proposes the creation of a new pedestrian route that would connect Collins with Francis Street, further alleviating pressure at the Collins and Spencer Street junction. 350 bicycle parking spaces and bays for electric vehicles and shared car clubs are included within the design.

Within the proposal, junctions between each vase invite the interaction fostered at a street level to continue inside the podium, where a rich mix of retail and commercial offerings as well as easily accessible communal spaces have been included in the proposed structure to promote public engagement.
</blockquote>

<a href="/">Apartments.com.au</a> will cover the proposal in more detail in the new year.
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Alastair Taylor

Landream, Zaha Hadid and Plus Architecture come together to produce 582-606 Collins Street

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The CBD's west end is set to receive an ultra-luxury development with plans afoot for a 70 level mixed-use tower carrying in excess of 1,100 apartment and hotel rooms. Based on St Kilda Road, established developer Vic Investments Management Group (VIMG) is behind the plan which is expected to crown their expanding development workbook.

Formed near on a decade ago the firm is active in both the Melbourne and Sydney apartment markets, and has seen both the frequency and size of their projects increase over time.

The subject site of VIMG's intended blue ribbon development is 600 Collins Street which was <a href="http://www.smh.com.au/business/investors-move-into-collins-street-as-values-build-up-in-central-melbourne-20150324-1m667g">reported</a> as sold during late 2014 to a syndicate of Chinese, Malaysian and German investors for $60 million. Currently a low-rise commercial office and day care facility, the expansive site sits alongside the under construction 568 Collins Street which is due for completion in coming months. 600 Collins Street looks set to eclipse its neighbour for height, with a tower of between 220 and 240 metres a likely outcome.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image228.jpg" rel="gallery-all" title="The site as is and as expected. Images courtesy 600collinsstreet.com.au and VIMG"><img alt="" class="image-article-full-width-580px" height="281" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image228.jpg?itok=SgArD5Q0" title="The site as is and as expected. Images courtesy 600collinsstreet.com.au and VIMG" width="580"></a>

<figcaption>The site as is and as expected. Images courtesy 600collinsstreet.com.au and VIMG</figcaption></figure>VIMG have stated via their <a href="http://vimg.com.au/portfolio/collins-street-melbourne/">website</a> that the tower will carry an end value in excess of $1 billion, with a tentative completion date set for 2021. While other pending projects in the immediate area such as <a href="/buildings/west-side-place-melbourne-250-spencer-street-melbourne-vic-3000">250 Spencer Street's Ritz Carlton</a>, <a href="/developments/melbourne-vic-3000">555 Collins Street</a>, <a href="/buildings/premier-tower-134-160-spencer-street-melbourne">Premier Tower</a> and <a href="/news/besgate-group-readies-their-surge-into-the-melbourne-apartment-market">640 Bourke Street</a> jockey for position in the market, 600 Collins Street's $1 billion price tag may well usurp the aforementioned projects and pit it against <a href="/new-apartments/one-queensbridge-street-1-23-queensbridge-street-southbank">1 Queensbridge Street</a> as Melbourne's most opulent current development.

At the opposite end of the CBD the developer is pursuing another tower, albeit more modest. With the site in question sold during August 2014, a planning application was submitted during October 2014 seeking the approval of a 52 level residential tower. Covering 141-149 La Trobe Street and 25-27 Bennetts Lane, the proposal would see Bennetts Lane Jazz Club make way for 210 apartments over 51 floors with two retail tenancies at ground level.

According to VIMG 1, 2 and 3 bedroom apartments will constitute the living options within the tower. City of Melbourne currently have the proposal listed at an 'appeal' stage.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/8941dd5b118085c844a249414324433a.jpg" rel="gallery-all" title="Artist's impression of 141-149 La Trobe Street . Image courtesy VIMG"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/8941dd5b118085c844a249414324433a.jpg?itok=FAdYO9Z_" title="Artist's impression of 141-149 La Trobe Street . Image courtesy VIMG" width="580"></a>

<figcaption>Artist's impression of 141-149 La Trobe Street . Image courtesy VIMG</figcaption></figure>Nearby Hamilton Marino Builders have taken VIMG's <a href="/buildings/metrolitan-melbourne-137-bourke-street-melbourne">Metropolitan</a> on Bourke Street above ground level, on the way to delivering the 19 level dKO Architecuture-designed tower midway between Russell and Exhibition.

The remaining local VIMG project has just reached construction tender. <a href="/new-apartments/coventry-haus-33-coventry-street-southbank">Coventry Haus</a> on Southbank will see a JCB Architects-designed 20 level residential tower slot into the popular residential precinct.

Hamilton Marino Builders have also recently completed Central Gardens in Box Hill and Prahran's Scout Apartments for VIMG in addition to Metropolitan, suggesting they may be considered favourite to snare the Southbank build.​
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VIMG's latest tower valued in excess of $1 billion 

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The historic Newspaper House, at 247 Collins Street, Melbourne has been sold at around $23 million, with the $12,000 a square metre a new record for Collins Street.
It comes with mosaic mural on its front facade designed by Napier Waller in 1932.
Mervyn Napier Waller's "I'll put a girdle about the earth" features heroic human figures appear among scenes of commerce, construction and communication.
There's lots of gold, an echo of the Byzantine era, in the 1933 commission by Sir Keith Murdoch from the Herald &amp; Weekly Times who needed more than their empire on Flinders Street.
<img class="img-responsive" src="/images/2015/05/08/700_mural.jpg" alt="Newspaper House, Collins Street under offer">
<div class="row article-content">It was the former WH Rocke Ltd building on a 478 square metre holding.</div>
There had been around 12 expressions of interest <a href="/expert-insights/investing/newspaper-house-collins-street-under-offer">before it went under offer through CBRE last month</a>.
Eu Ming Lim, of Thomson Geer solicitors, represented the purchaser from Singapore, who told the Australian Financial Review his client was considering both leasing and subdivision plans for the building.
<a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-501464323" target="_blank">Set near Swanston Street with a 2084 square metre floor area</a>, it was marketed as an irreplaceable seven level sandstone retail and office building, fully refurnished and upgraded.
Agents suggested it was a genuine “blank canvas” providing strategic opportunity for multi-level retail and/or residential/hotel conversion.
In 2010 Savills Australia had brokered a five-year lease deal for 250 square metres to Nespresso, who have now departed.
Its latest sale price has not been revealed but the former Herald and Weekly Times building sold for $11.08 million to a private investor, Melbourne horse-racing identity Ken Biddick in 2006 through Knight Frank, fully leased for $403,600 a year, reflecting a yield of 3.6%.
The then vendor, Desmond Oppenheimer had bought the building for $7.55 million in 2002.
The ground floor of 247 Collins Street had been previously leased to the House of Cashmere, and the upper levels to Sydney International College.  
HIDDEN TREASURES OF NAPIER WALLER
1926-27 MURALS Melbourne Town Hall, Swanston Street.
1927 MURAL Menzies Hotel, cnr Bourke and William streets (building demolished in 1969, mural sold privately).
1928 MURAL Better Than to Squander Life's Gifts Is to Conserve Them and Ensure a Fearless Future T&amp;G Life Building entry foyer, cnr Collins and Russell streets.
1928 MURAL Peace After Victory State Library of Victoria, first-floor landing near La Trobe Reading Room, cnr, Swanston and La Trobe street.
1933 MOSAIC I'll Put a Girdle Round the Earth Newspaper House facade, 247 Collins Street.
1934 FLORENTINE MURALS Florentino Restaurant, now Grossi Florentino, first floor, 80 Bourke Street.
1935 STAINED GLASS WINDOW Wesley Church, Pioneers window, upper gallery, north wall, 148 Lonsdale Street.
1935 STAINED GLASS WINDOW Ian Potter Museum foyer, Swanston Street on university campus. (Designed for Wilson Hall, University of Melbourne, which was destroyed by fire in 1951. Window was retrieved from the ruins.)
1935 MUIRALS Myer Melbourne Mural Hall dining room, sixth floor, 314 Bourke Street.
1937 STAINED GLASS Orchid Window University of Melbourne Botany School.
1940 MURAL Australian Symbolic Figures University of Melbourne Achitecture, Building and Planning Library (Orginally on display at Royal Insurance Company, 414-418 Collins Street, but donated to university after building was demolished in 1969.)
1963 MOSAIC The Eight Aboriginal Tribal Headmen Temple Court foyer, 422 Collins Street.
1967 MOSAIC Prometheus Monash House foyer, 15 William Street.
List Source: Fairfax Media
 
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