This article is from the Australian Property Journal archive
DEVELOPER Goldfields will cap its $300 million office tower in Melbourne’s fringe suburb of South Yarra with a rooftop restaurant and bar, after obtaining approval from the Victorian Civil and Administrative Tribunal.
Due for completion in November, the 24-level building topped at 627 Chapel Street topped out in June with over 24,000 sqm of commercial space. Among those is developer Oreana, which committed to the 1,179 sqm whole floor office on level 16 for five years.
It is one of several new and in-pipeline commercial projects in the area. Vicland Property Group this month sold off a brand-new office building to German fund manager Real I.S. Group for $75 million, while Newmark Capital has partnered with developer Tim Gurner and real estate fund manager Qualitas to reinvigorate its $1.4 billion plans for an overhaul of the mixed-use Jam Factory precinct.
Under the approved permit, the 627 Chapel Street rooftop venue will have a seven-day operating license and capacity to cater for up to 200 patrons. It will open in time for summer and offer an open-sided pergola, lounge seating areas and canopy trees, uninterrupted panoramic views over Melbourne, and “capture the al fresco spirit of South Yarra with a contemporary Mediterranean aesthetic”.
“We have already shortlisted three well-known local groups and one international operator from Los Angeles to potentially partner with,” Marco Gattino, managing director of Goldfields said.
“The feedback from day one about this opportunity was overwhelmingly positive and now we know the exact parameters we can work in, we look forward to choosing the right partner to bring this vision to life.”
It is the second win at the tribunal for Goldfields this year, after it obtained permission for a 12-storey hotel tower with 198 rooms on a former Matt Blatt furniture showroom in nearby Richmond.
The Cox Architecture-designed project was referred to VCAT after Yarra City Council did not come to a decision within the statutory period.
Late last year, Goldfields unveiled plans for a $270 million apartment project to be built on a large block in another close-by suburb, Windsor, that will include over 300 luxury apartments as well as 2,500 sqm of retail and hospitality floor space.
