This article is from the Australian Property Journal archive
ORCHARD Piper has been granted a planning permit for one of the last developable parcels fronting the Fitzroy Gardens, extending its reach into Melbourne’s luxury market.
The amalgamated 1,200sqm site, at 364-270 Albert Street, East Melbourne, is set to be developed into a nine-storey mixed-use building, after Melbourne based architectural developers Orchard Piper acquired the three-adjoining sites from a family that had held the properties for over 40-years.
Orchard Piper are hoping to tap into East Melbourne’s luxury market, where the median house price is around $3.3 million.
“This East Melbourne project has been designed in direct response to more than 13 years of market feedback from our local owner occupiers. Living spaces will be ample, with home offices and master suites just as you would expect in a detached house,” said Luke Mckie, director of Orchard Piper.
The mixed-use site will be comprised of private offices and 14 residences across six levels, with no more than three apartments per level. The first three-levels will be made up of the original Victorian townhouse on the site, which will be restored and will include basement car parking and a lift.
“We have continuous demand from our buyers and repeated enquiries for an Orchard Piper offering in East Melbourne. This site is as good as it gets, and we are excited to be able to soon offer these properties to the market,” added Rick Gronow, co-founder and director of Orchard Piper.
The developers will work with frequent collaborators Jolson Architecture and Interiors to to design the project.
“This is our sixth project with our long term design partners, Jolson. The collective knowledge from this partnership places our projects in rare territory where historic feedback from our residents continues to shape our future offerings,” said Mckie.
This site will be the largest in the developer’s portfolio and is according to Mckie a strategic acquisition, representing a major step towards larger mixed-use projects.
“We have been actively acquiring sites through COVID with a view to significantly bolstering our pipeline as we move into more substantial projects in Melbourne’s best locations.”
The new development will add $120 million to their pipeline, which now totals more than $750 million, across completed and future projects.
The East Melbourne project will be launched in the second half of 2021.
