ASX-listed developer Cedar Woods is progressing its plans for its Southbank arts precinct site.&nbsp;

The developer has filed plans, which are now with the&nbsp;Department of Transport and Planning, for a new 20-level tower at&nbsp;<a href="https://www.apartments.com.au/new-apartments/141-151-sturt-street-southbank-vic-3006">141–151 Sturt Street</a>, a 2,718 sqm block opposite the Habitat Filter sculpture.

The proposal seeks to demolish the two-level&nbsp;commercial building, including a small supermarket and medical tenancies, and create a new building with 180 apartments and a focus on an&nbsp;active public realm and arts integration.

&nbsp;

<img alt="Southbank site" data-entity-type="file" data-entity-uuid="76a72db6-91ef-43ae-827d-a9cfa72893d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Site.png?VersionId=DZgtB4K6BswVh0QtCs3iLjXaLp0CbcEb" />

&nbsp;

There will be a full mix of apartment configurations, including 28 studio apartments, 16 one-bedroom, 104 two-bedroom, and 32 three-bedroom units.

Retail, creative arts, and residential amenity functions are integrated across the lower levels. A food and drink tenancy is planned to front Dodds Street, while a retail tenancy fronting Sturt Street will be accessed via an elevated walkway. The first floor includes a substantial 734 sqm creative arts space, envisioned to support Melbourne’s growing cultural and digital industries.

Architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has put together the plans. In their&nbsp;Urban Design Report they highlighted the project’s ambition to embed itself within Southbank’s evolving cultural fabric.

A central feature of the design is a through-block link connecting Sturt and Dodds Streets, landscaped with native plantings and embedded with universal access ramps.

“The ramp has been thoughtfully integrated as the primary access point, ensuring universal accessibility for all users,” the report noted, with the link offering “a direct response to the urban planning scheme of creating more green spaces within our communities”.

<img alt="Southbank podium" data-entity-type="file" data-entity-uuid="4d24b1b2-d69c-4a11-a11d-ec6df432221c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium.png?VersionId=geWoJyZDmPSLODZ_.PNJ0LvpOmyyCdpo" />

The building’s podium form responds to the mandatory height limits along Dodds Street and maintains a fine-grain interface to adjoining developments. Above the podium, the tower is articulated with recessed balconies and a focus on views toward the CBD and surrounding arts institutions. A communal rooftop recreation deck and indoor lounge are positioned on level four, adjoining seven apartments and providing over 900 sqm of resident amenity space.

Vehicle access and loading will be provided via Dodds Street, with 155 resident car spaces located across two basement levels and the first three above-ground floors. Bicycle storage is more generous, with 226 spaces distributed across resident, staff and visitor needs.

Rothelowman describes the architecture as “humanist,” with ground-level interfaces designed to encourage social interaction and provide a dignified entry for both residents and passers-by. “All street interfaces are crafted to invite and nurture human connections,” the design report states. “The façade transitions to a human scale, providing an approachable and engaging streetscape”.

Cedar Woods, while well-known for its large communities it develops outside of Australia's capital cities, they have recently developed in Melbourne's inner-ring before. They are approaching completion at <a href="https://www.apartments.com.au/new-townhouses/88-leveson-north-melbourne-88-leveson-street-north-melbourne-vic-3051">88 Leveson</a>, just 15 townhouses in the heart of North Melbourne.

Joel Robinson

Cedar Woods progresses with new apartment plans in Southbank arts precinct

Brisbane developers Core Property Partners and Vector Property Australia has teamed up for Brisbane's newest apartment development.

The duo identified <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as their preferred suburb, on the fringe of the Gabba Precinct, where they've just revealed BANKSII, 72 apartments opposite Raymond Park.

[smartcode_project:default project_id=136432 project_image_fid=5481]

The one-, two-, and three-bedroom apartments will sit in a glass-wrapped building that will also feature a rooftop with an&nbsp;infinity-edge pool, a BBQ area and alfresco dining spaces, sun lounges, and a sauna, as well as a resident-only gym and a ground-floor cafe.

Rhett Williams, Director of Vector Property Australia, said the project will lift the quality of the East Brisbane community and set a new benchmark.

"In Brisbane’s current property landscape, <a href="https://www.apartments.com.au/new-apartments/banksii-east-brisbane-169-wellington-road-east-brisbane-qld-4169">BANKSII</a> stands out through its emphasis on lifestyle-oriented living, connectivity and sophisticated design," Williams says.

[smartcode_project:default project_id=136432 project_image_fid=5479]

The 10-level building has been designed by MAS Architecture. Their designs were inspired by the native Banksia flower, with the architecture and interiors reflecting the organic symmetry of its namesake flora. MAS has interpreted this throughout the building’s curved form, façade detailing and interior palette.&nbsp;

The building’s flowing geometry and natural tones are complemented by large balconies and floor-to-ceiling glazing, maximising cross-breezes, daylight and views over the city, parklands and river.

“Having a strong narrative for a building helps us architecturally,” MAS noted. "We can choose colours that come off that species of flowers. The trunk and the trees and the flower elements all are now visible in our joinery on the inside and in our architectural finishes on the outside."

[smartcode_project:default project_id=136432 project_image_fid=5485]

Apartments will feature timber floors, soft porcelain tiles, brushed bronze fittings, and stone benchtops with warm veining.&nbsp;

Kitchens feature premium SMEG appliances and generous storage, while bathrooms have been designed as calming retreats with curved cabinetry and twin sinks in the master ensuites.

The building will feature a suite of rooftop and wellness amenities. Residents will have access to an infinity-edge pool, BBQ and alfresco dining areas, sun lounges and a rooftop sauna.&nbsp;

A residents-only gym will be located on the podium level, while a ground-floor café and landscaped laneway will further activate the site and improve neighbourhood connectivity.

[smartcode_project:default project_id=136432 project_image_fid=5488]

BANKSII will rise from a prime Wellington Road site, with the building oriented to overlook the adjacent Raymond Park and take in extensive city views. It is also on the doorstep of key&nbsp;lifestyle infrastructure, including the future Kangaroo Point Green Bridge, The Gabba stadium, and the planned Brisbane Live arena.&nbsp;

Public transport options, including ferry, bus and rail - including the future Cross River Rail Woolloongabba station - are all nearby, supporting a car-optional lifestyle just minutes from the CBD.

Williams said the team spent over a year searching for the ideal site before securing this location.

"We were attracted to <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as it is a vibrant and growing community that offers a perfect balance of urban convenience and natural beauty with the parklands and river on our doorstep.”

The project is part of the broader Woolloongabba Games precinct, which is undergoing significant investment in the lead-up to the 2032 Brisbane Olympics. This urban renewal, coupled with infrastructure upgrades, is expected to enhance long-term liveability and capital growth in the area.

Given the wide max of configurations, BANKSII is expected to suit everyone from first home buyers and investors to families and downsizers.

[smartcode_project_cta:default project_id=136432]

BANKSII sales launch in booming East Brisbane apartment market

The Minns Labor Government will deliver Sydney’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around Woollahra and Edgecliff stations, right next to the CBD, to tackle the housing crisis and rebalance growth across the city.

Recent reports by the NSW Productivity Commission have warned that Sydney is losing twice as many young people as it is gaining, while also finding that Woollahra is the most feasible Local Government Area (LGA) in New South Wales to build new housing.

Despite this, housing approvals in Woollahra consistently lag well behind other LGAs, and the population has declined by 11 per cent over the past 50 years while Greater Sydney as a whole has grown by 74 per cent.

The new station that will be an eight-minute trip from Sydney CBD, will be located on the Eastern Suburbs train line in Woollahra, where a station build was started in the 1970s but never completed.

To enable the delivery of new homes the NSW Government will lead a rezoning of Woollahra and Edgecliff stations similar to other state led rezonings to allow additional homes to be built around the stations.

Affordable housing will also make up a proportion of development on the site with the final amount of affordable housing required, to be determined as part of the rezoning process.

The area surrounding the new station is within walking distance of major green and recreational space including Cooper, Trumper, Rushcutters Bay and Centennial Parks.

The Eastern Suburbs train line between Bondi Junction and Sydney CBD also has the lowest passenger usage rates during the AM peak of any line on the Sydney network, with only 43 per cent of operating capacity during the AM peak currently being utilised by passengers.

Sydney Water and Infrastructure NSW have confirmed there is capacity in the water and wastewater systems to accommodate the proposed 10,000 dwellings without major upgrades.

The rezoning is expected to take around two years and will further support the Government’s housing targets that rebalance the delivery of new homes around existing infrastructure.

&nbsp;

&nbsp;

Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney

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Fresh off completing its mixed-use Malvern project Malvern Collective, Kokoda Property Group has acquired a prime site on Richmond's Bridge Road.

They are planning a mid-rise residential development with&nbsp;integrated wellness amenities and a vibrant ground-floor retail and dining offering.

The site, at&nbsp;487–495 Bridge Road, spans&nbsp;1,650 sqm with 50 metres of dual frontage across Bridge Road and Palmer Street. It is currently leased to Adairs, and has a large retail building and 20 onsite car parks.
</section>

<section data-element_type="section" data-id="534a164">
Kokoda Property Group’s acquisition forms part of a broader phase of growth in Melbourne, building on momentum from the completion of Malvern Collective and the recent purchase of a Burnley Street site for the developer’s first commercial project.&nbsp;

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating.

“Melbourne is regaining momentum,"&nbsp;Stevens said.

"After a cautious period post-COVID, we’re seeing buyer sentiment stabilise and capital leaning back into well-located, quality projects. Victoria now benefits from deep builder capacity and competitive delivery pricing, creating a rare opportunity to bring design-led inner-city developments to market without compromising on craftsmanship.

“Richmond ticks all the boxes for us – connectivity, culture and everyday amenity – making Bridge Road the perfect address for an amenity-rich, multi-use development."

<img alt="Kokoda" data-entity-type="file" data-entity-uuid="9a8de51d-8092-480a-8b7e-e081816692c2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-08-29%20at%208.54.27%E2%80%AFAM.png?VersionId=VRHpV5.6beOu2cieKHWrw3ErMPuVOAuj" />

Envisioned as an “urban lantern” the building will bring a distinctive new presence to Bridge Road with a sculptural retail frontage, designed to honour the street’s heritage character while contributing to its renewal.

Stevens said the acquisition reflects the developer’s commitment to design-led addresses in Melbourne’s inner city.

“Drawing on Richmond’s rich heritage and dynamic character, we’ve envisioned a contemporary building that respects the past while elevating the way people live today. With dual frontages, curated ground-floor spaces, and a focus on wellness, this project will contribute to the neighbourhood’s evolution, appealing to both downsizers and a new generation of professionals.”

Kokoda Property will now progress concept design ahead of a future planning process.
</section>

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating

First look: Kokoda secures Richmond site for new apartment development

Gold Coast developer Drew Group is fast approaching sell-out at its Main Beach apartment development, Lagoon Main Beach.

In the last nine months, Drew Group and sales partner Pezet Matheson have secured 31 sales totalling over $75 million, as the two-tower development advances towards completion under the expert eye of Hutchinson Builders.

“Today's buyers are more discerning than ever," Drew Group Managing Director Jon Drew says.

"It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."

[smartcode_project:default project_id=108747 project_image_fid=193023]

Just over 50 per cent of recent&nbsp;sales have been to local buyers, reflecting the deep trust and connection within the Gold Coast community that Drew Group has developed over the years.

Demand has been particularly robust at the top end, with two of the three exclusive penthouses already sold, alongside five sub-penthouses. Only seven apartments remain in Lagoon's Signature Series — one&nbsp;penthouse and six sub-penthouses.

[smartcode_project:default project_id=108747 project_image_fid=284864]

Drew Group has also removed the much-maligned sunset clause from all contracts at Lagoon. The sunset clause — although rarely invoked, yet on occasion known to have been — allows developers to take back contracts on apartments should the building not be completed within the timeframe specified in the contract.

Pezet Matheson Co-Director Jayde Pezet says the fact Lagoon is&nbsp;within a year of completion, and has no sunset clause in contracts, provides certainty to buyers.

"This is paramount in the current market," Pezet says.

Drew Group has committed to providing the highest level of security inclusions — none more impressive than the Ubiquity Access Control System, a cutting-edge facial recognition technology that is one of the most state-of-the-art keyless entry systems on the market.

[smartcode_project:default project_id=108747 project_image_fid=190743]

One of the biggest drawcards to Lagoon has been the size of the apartments.

"It is unlikely that any future new development in Main Beach will be able to offer such spacious living at this price point," Drew says.

"Today's buyers are more discerning than ever, carefully evaluating amenities like gyms, spas, workspaces, and beach lockers, along with quality finishes. It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."

Lagoon is set to complete construction in mid-2026.

[smartcode_project_cta:default project_id=108747]

Lagoon Main Beach approaches sell-out as local buyers drive $75m in sales

Spring Street

Box Hill, the thriving suburb just 14 kilometres east of Melbourne, is undergoing explosive growth and major generational change.

It is set for the even further growth due to its recent crowning as a Metropolitan Activity Centre.

One of the most sought-after apartment developments on the market in Box Hill is&nbsp;Spring Street,&nbsp;ideally located to take advantage of Box Hill's future growth prospect.

From its Spring St location, the Elenberg Fraser-designed apartment project is just a short walk from Box Hill Central, one of the city's busiest train stations connecting the suburb to the rest of Melbourne.&nbsp;Box Hill&nbsp;is also served by the route 109 tram and a number of bus routes.

[smartcode_project:default project_id=100675 project_image_fid=167528]

As the suburb’s cultural diversity and growing appeal have made it one of the more desirable places to live in Melbourne's east, Spring Street has set itself apart in both price and amenity for&nbsp;Box Hill.

The ground level of Spring St is also home a number of retail and dining options.

Within a few hundred metres is the Box Hill RSL and Bowls Club, which meets Box Hill Gardens, a one kilometre urban park with sports courts, a running track, barbecue areas, ponds, and a playground.

[smartcode_project:default project_id=100675 project_image_fid=167531]

The 312-apartment development by Orion International&nbsp;features a number of resident&nbsp;facilities, including a&nbsp;25-metre swimming pool with spa, a sauna, a gym and a yoga room.

It is also home to further&nbsp;amenity, such as private dining spaces and connected environments that offer&nbsp;hotel-style entertaining, ideal for hosting guests.

The low price point in the project, the first in Box Hill designed by the renowned architecture firm Elenberg Fraser, has had buyers of every demographic at the ready. One-bedroom apartments start from as low as $395,000.

[smartcode_project:default project_id=100675 project_image_fid=170523]

Two-bedroom apartments start from $545,000, with three-bedroom apartments ranging from $1,175,000 to $2.23 million. There's a small selection of four-bedroom apartments, which start at $3.98 million.

Completion is set for 2024.

[smartcode_project_cta: project_id=100675]

As the suburb’s cultural diversity and growing appeal have made it one of the more desirable places to live in Melbourne's east, Spring Street has set itself apart in both price and amenity for Box Hill

jordan_55689

How Spring Street apartments are primed to take advantage of Box Hill's future growth plan

Founded as a township in the 1850s, the Melbourne suburb of Box Hill has&nbsp;grown in to a small city in its own right.

In the 1950s, Box Hill was absorbed into Melbourne as part of the eastward expansion. Now the area is home to Melbourne&#39;s&nbsp;tallest high-rise buildings outside the CBD, creating the Victorian capital&#39;s second city just 14 kilometres east of Melbourne&#39;s city centre.

A major transportation hub for Melbourne&#39;s eastern suburbs, Box Hill is home to one of the city&#39;s busiest train stations, located beneath Box Hill Central.

Box Hill&#39;s newest apartment development, Spring Street, has investors and first home buyers looking for value in an area which is only continuing to grow.

Developed by Orion International Group and designed by the award-winning architecture firm Elenberg Fraser, the tower will have 312 one, two and three- bedroom apartments as well as a number of amenities, including a pool, gym and sauna.

[smartcode_project:default project_id=100675 project_image_fid=167528]

Future residents will be within touching distance of a number of amenities, starting from the ground level of the tower, which will home a number of retail and dining options.

Spring St, on the corner of Spring and Nelson Street, is just&nbsp;a couple of hundred&nbsp;metres away from the Box Hill RSL and Bowls Club, adjacent to the Box Hill Gardens, a one kilometre urban park with sports courts, a running track, barbecue areas, ponds, and a playground.

Spring Street is located just across from the Hospital district of Box Hill, with Box Hill Hospital down the street, as well as Epworth Eastern and Eastern Heart Victoria. Just down Whitehorse Road are the Box Hill Library and Police Station.

[smartcode_project:default project_id=100675 project_image_fid=170528]

Spring St is close to a number of Box Hill&rsquo;s most well-known restaurants and cafes, including Fountain&#39;s Licensed Restaurant, Second Wife, Nelson and Dainty Sichuan Food - Box Hill.

A short distance away is the bustling Station Street intersection, home to a part of the Box Hill nightlife with a number of bars and clubs.&nbsp;Box Hill Central, just a short walk, has a number of retailers and is anchored&nbsp;by a Coles.

Educational institutions for all ages are a short distance away, including MONT ALBERT Primary, Our Lady of Sion College, Box Hill High and Box Hill institute.

[smartcode_project:default project_id=100675 project_image_fid=167532]

Other than the choice location, Spring Street&rsquo;s affordable prices are also contributing to its popularity, with one-bedroom apartments starting from $395,000 and two-bedrooms priced from $545,000, well below Melbourne&#39;s median of $610,000, calculated by CoreLogic.

The generously sized apartments start from 52 sqm for the one-bedroom apartments, with a further eight sqm of balconies. The average size of one-bedroom apartments in Melbourne is sub-50 sqm.

Spring Street is set for completion in 2024.

Set in a quiet and leafy area in the bustling heart of Box Hill, Spring St provides convenient public transport, with the 109 tram, trains and buses nearby, as well as local shops and cafes

Box Hill walking tour: What can I walk to from Box Hill's newest apartment development, Spring St

Located in the heart of Box Hill, Spring Street is the latest Melbourne development delivered by Orion International Group.

Set over 29 levels, the tower is set to include 312 one, two and three-bedroom apartments within a five-minute walk from Box Hill Central.

[smartcode_project:default project_id=100675 project_image_fid=167529]

Designed by Elenberg Fraser, the development delivers a luxury living experience with spacious floorplans and numerous amenities.

Levels three and four boast an indoor pool, sauna and spa, function rooms, game room, private dining room and multifunctional outdoor space.

[smartcode_project:default project_id=100675 project_image_fid=170528]

A communal terrace sits atop the tower with a rooftop garden, private dining zone, communal barbeque area, outdoor kitchen and entertaining zone.

Urban takes a look at three of the featured floorplans available at Spring Street. Penthouse floorplans are available upon request.

1. Rebirth: Two-bedroom, one-bathroom

<img alt="" height="938" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/two_bed_one_bath_spring_st.jpg" width="1200" />

Located on levels three to 18, Rebirth boasts one and two-bedroom low-rise apartments within the Spring Street project.

This two-bedroom, one-bathroom apartment is set over an internal area of 67 sqm and includes a 9.2 sqm balcony area.

The configuration includes recon stone benchtops, generous storage space, built-in robes and an open-plan living and dining area.

[smartcode_project:default project_id=100675 project_image_fid=170524]

There are 60 two-bedroom, one-bathroom apartment configurations available in the complex.

2. Rejuvenate: Two-bedroom, two-bathroom

<img alt="" height="964" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/two_bed_two_bath_spring.jpg" width="1200" />

Only available on levels 19 to 26, Spring Street&rsquo;s high-rise range, Rejuvenate presents more luxurious apartments for the discerning buyer.

Set over an internal area of 79.7 sqm, the floorplan displayed is a two-bedroom, two-bathroom residence that delivers a holistic living experience.

This range includes gourmet kitchens with natural stone benchtops, open-plan living and dining, a master-bedroom with ensuite and an 8 sqm balcony.

<img alt="" height="1592" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/springstboxhillapartment_highrisekitchenanddining_final.jpeg" width="2500" />

Other features in the large residence include the choice of warm and cool schemes, engineered timber flooring, and 2.72-metre-high ceilings.

3. Rejuvenate: Three-bedroom, two-bathroom

<img alt="" height="900" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/three_bed_spring_street.jpg" width="1200" />

Also situated on levels 19 to 26, this three-bedroom, two-bathroom residence is one of just 30 available at Spring Street.

Set over an internal area of 118.8sqm, the apartment includes a large open-plan living and dining area with large floor-to-ceiling glass.

Windows enhance natural light while offering views across the surrounding suburbs.

<img alt="" height="1184" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2021-08-08_at_7.27.51_pm.png" width="1852" />

Bedrooms include built-in robes, and feature forward-looking design trends including wool carpet, porcelain tiles, and the choice between a warm and cool colour scheme.

[smartcode_project_cta: project_id=100675]

Urban takes a look at three of the featured floorplans available at Spring Street. Penthouse floorplans are available upon request.

max.kwok_55688

Floorplan focus: Uncover the rejuvenating apartments at Spring Street in Box Hill

The Melbourne off the plan prestige market is continuing to see heightened demand.

Two whole-floor apartments in&nbsp;Cbus Property&#39;s exclusive 17 Spring Street residential tower&nbsp;have just sold&nbsp;for a combined total of $25 million, within two weeks of each other.

The Garden Residence, spanning the whole of level 10 with a private 280 sqm plus terrace with landscaping by Paul Bangay, sold even before its marketing campaign.

Following The Garden Residence sale, another whole-floor apartment on the 31st level sold. There&#39;s now just one whole-floor apartment remaining in the whole 73 apartment building.

Adrian Pozzo, chief executive of Cbus Property,&nbsp;said the sales showed that overwhelming confidence in the market remained for well-placed product, despite the challenges generated by the COVID-19 pandemic throughout the past 18 months.

[smartcode_project:default project_id=8666 project_image_fid=77387]

&ldquo;Cbus Property continues to experience strong owner-occupier demand for premium residences in prime locations and our purchasers see immense value in buying at the top end of Melbourne&rsquo;s CBD,&rdquo; Pozzo said.

The $300 million 17 Spring St, architecturally designed by Bates Smart at the end of Spring Street, is set to be built on the 1,270 sqm site that was formally&nbsp;occupied by the Mercure Melbourne Treasury Gardens.

It comprises 73 two- and three-bedroom, and half- and whole-floor residences, each with views overlooking the Treasury and Fitzroy Gardens.

Construction is anticipated for completion in late 2022.

[smartcode_project:default project_id=8666 project_image_fid=77388]

It&#39;s Cbus Property&#39;s second success on Spring Street, having sold out their 35 Spring Street well before its 2017 completion.

Colliers International&nbsp;brokered the whole-floor sales, with their director of residential Brett Griffith&nbsp;saying that despite the challenges brought about by COVID-19 throughout the past 18 months, they cannot keep up with the demand from buyers seeking premium residences in Melbourne CBD&rsquo;s premier streets, such as Spring Street.

&ldquo;Quality apartments from quality developers are extraordinarily resilient in all markets; they very rarely shift or drop in price,&rdquo; Griffith said.

Adrian Pozzo, chief executive of Cbus Property, said the sales showed that overwhelming confidence in the market remained for well-placed product

Melbourne's prestige off the plan apartment market booms with $25 million sales at Cbus Property's 17 Spring Street

Cbus continues construction on 17 Spring Street, a 36-level apartment tower in Melbourne.

Just one apartment remains for sale following its 2019 launch.

There is a $12 asking price for 2901/17 Spring St, Melbourne through Colliers International.

It is an expansive full floor residence with four bedrooms study with views across the Treasury and Fitzroy Gardens, within the heart of Melbourne&#39;s Paris-End.

Designed by architecture firm Bates Smart, the apartment encompasses a total footprint of 478-square-metres, with the living areas and master bedroom flowing directly onto three private terraces.

Completion is expected in 2022&#39;s second half.

The pricing for the two bedders started at $1.9 million following its launch.

<a href="/developments/melbourne-vic?source_news_article_id=105148&amp;ref=news_body_link"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/template_photoshop_melbournecbd_9.jpg" width="1200" /></a>

It has 74 apartments.

The complex will have a 25 metre lap pool, wine cellar and residents&rsquo; lounge.&nbsp;

There will be a shared dining room and a wine cellar with a tasting room that is linked to a landscaped outdoor terrace.

There will be a sumptuous lobby on the ground floor and porte cochere.

Architects studied some of Melbourne&rsquo;s most esteemed palazzo stone-faced buildings to design the entrance to the buildings.

The result is a grand entrance greeting the corner of Throssell Lane and Spring Street.

The apartments will feature parquetry oak flooring, custom-designed door hardware and tapware, and granite kitchen benchtops.

Exhibiting quintessentially Spring Street ambience, the living areas, dining and main bedroom connect seamlessly to private terraces

jchancellor

$12 million asking price for last apartment at 17 Spring St, Melbourne

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More than half of Cbus Property's new development, 17 Spring Street, has sold since it launched last month.
The $300 million luxury residential tower designed by Bates Smart has 73 apartments over its 33 levels, although a number of apartments have been amalgamated already.
Construction on 17 Spring Street will commence in September 2019 by the industry super fund backed developer.
Cbus has issued a notice to vacate to Mercure Treasury Gardens, the current site occupant.
Sales so far have been dominated by the local owner-occupier market.
The tower has been proving popular with upgraders already in the city, affluent downsizers and purchasers looking for a new city base.
Cbus Property’s CEO, Adrian Pozzo says 17 Spring will "undoubtedly be the jewel in our crown."
"Purchasers have recognised the unique opportunity offered through 17 Spring Street’s unrivalled location and exclusive offering," Pozzo said.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/13/17Spring2.jpg" alt=""> The penthouse living space
“We amalgamated a number of apartments at 17 Spring Street prior to launch, creating additional half floor configurations in anticipation for demand for oversized residences, particularly from the downsizer market.
"This strategy has proved successful with strong sales results for larger format apartments within the first month of the project going on market,” Pozzo added.
Brett Griffith, who is handling the marketing, says Spring Street was "highly sought after."
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17 Spring Street will comprise a mix of two and three bedroom apartments, the two beds ranging from 105 to 160 sqm and three beds from 134 to 245 sqm.
There are a number of half and whole floor residences ranging from 245 up to 441 sqm internally.
The penthouse spans 468 sqm and has a 240 sqm terrace and a private pool.
Construction completion is anticipated for mid-2022.
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Cbus Property sells over half of Melbourne's 17 Spring Street

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Jeff Xu’s Golden Age is pushing ahead with its $500 million luxury residential tower on the eastern edge of Melbourne’s CBD.
But he has redesigned the Spring Street project for top-end owner-occupiers.
There are 145 apartments proposed for the 39-storey building.
Surrounded by heritage-listed buildings and overlooking Parliament House, the project has an end value of approximately $500 million that will add a significant bow to Golden Age’s $4.2b portfolio.
The 85 Spring Street project was bought from Grocon who had approval for 225 apartments, after trimming its earlier proposal from 305 apartments over 44 levels when it had failed to gain the green light from Victorian Planning Minister Richard Wynne.
Golden Age has a $4.2 billion residential and commercial portfolio.
Its suggested prices ranging from $698,000 for a one-bedroom up to $8 million for the top three-bedroom in the Bates Smart designed project.
“When undertaking this project we looked at the existing product mix and completely redesigned it for our target market,” Mr Xu told The Australian.
“We set about reducing the number of apartments and making each more spacious with a dedication to additional living, dining and leisure rooms.”
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Golden Age's Spring Street project redesigned for top-end owner-occupiers

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The country's top academic couple, University of Melbourne vice-chancellor Glyn Davis and wife, vice-chancellor at Monash University Margaret Gardner, have sold their Melbourne CBD apartment.
The Bates Smart-designed 35 Spring Street apartment that cost the couple $3.24 million off the plan just last year went to private mid-week auction.
There was price guidance of $3.45 million to $3,795,000.
Abercromby's agents Jock Langley and Sam Goddard have not revealed the price secured for the 34th floor three bedroom, two bathroom apartment that came with two terraces with views that span to the Dandenong Ranges.
Davis and Gardner are well regarded as the ultimate power couple, acting as the vice-chancellor's of two of Australia's largest and most highly ranked and esteemed universities.
Davis has been vice-chancellor and Principal of the University of Melbourne since January 2005 and is the Professor of political science in the faculty of arts.
Gardner has been vice-chancellor of Monash University since 2014 having previously worked at the Royal Melbourne Institute of Technology for nine years in the same role.
She has served in executive positions with Deakin University, Griffith University and Queensland University of Technology.
This article first appeared in The Weekend Australian Mansion Australia section.
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